realtyreport
Home, Sweet ... Investment Property?
The U.S. real estate market is changing faster than ever before. Depending on your state, city, and individual neighborhood, real estate prices may have dropped, increased or remained stable over the past few months.
Due to this variance, real estate sales representatives like to remind clients that all real estate is local, and that national trends summarized in the news media can often be out of sync with what is happening in your particular area. So, it's a good idea to consult a real estate sales representative for local insight when thinking about a move, or when considering the purchase of an investment property.
The inventory of homes available at reasonable prices, coupled with today's record-low interest rates, has many people considering investing in a second property. After all, consider the many times you've heard the lament, "I should have bought when prices were down - look at what that place is going for now!"
A psychological advantage for many people investing in real estate is the knowledge that they are investing in something tangible. Unlike "paper" investments, which can fluctuate on a daily basis, property is something investors feel more in control of - it has a more stable value.
A practical advantage for today's real estate investors is the low interest rate they may be able to negotiate, allowing more of what they're paying toward their mortgage to go toward paying off the actual loan, instead of the interest.
If you're considering a second property as an investment, you'll need to talk to seasoned professionals, including a lawyer, an accountant and a local real estate sales representative, to make sure you're clear on all the issues involved. Why not start by getting the latest update on your local real estate environment? Call the number on this newsletter to set up a no-obligation information session.
