Timing’s right for investing in rental property
If you’re thinking about investing in a rental property, experts say low home prices combined with low interest rates make this the best time in years to become a real estate investor.What’s more, the real estate market is starting to recover: U.S. houses lost $489 billion in value during the first 11 months of 2009, but that was significantly lower than the $3.6 trillion lost during 2008, according to real estate Web site Zillow.com,
“We haven’t seen home prices this low in so many years — coupled with the rates being so low,” says Jill Sjolin, an agent with Windermere Real Estate in Woodinville, Wash., who specializes in investment properties. “When the money is cheap to borrow and the houses are cheap to buy, it’s absolutely the best time to invest.”
Perspective is everything in real estate. While some would say the market couldn’t be worse, other say it couldn’t be better….It’s all in how you see the world. This is a fantastic time to buy for first-timers and investors. There are some amazing Colorado Springs homes for sale right now. And despite the recent drop in inventory on the market due to the tax credit, there’s still a lot of potential out there. Lower interest rates and housing prices translate into first time buyers and investors being able to do more with their money….a lot more. So if you’re feeling the need to try your hand at investing or just want to get out of a rental situation, this is your time to shine. But make sure you don’t wait too long to start looking. This market may be around for the next few months, but it certainly won’t last forever.
