Thursday, November 12, 2009
Investors Finding Deals in Real Estate Market
Posted by: Christina Dove
Although the housing market has taken some criticism and has struggled recently in the ongoing economic crisis, there is a glimmer of hope for some real estate investors. Many investors who have the money are able to take advantage of the slow economy's low prices and are getting great deals on houses. Especially with so many people foreclosing their homes and turning them over to the bank, it creates a lot of opportunities for people looking to buy a home or just a place to invest their money.
Housing prices are at an all time low and are attracting several types of people - those looking to buy their first home, those looking to relocate and those looking to invest their money and have a payoff in the future when the market returns to its normal conditions. Another benefit of entering the real estate market at this time is for the wide selection of homes that are on the market, with so many people getting out of their homes because they cannot afford them, it really opens up the doors for people with a little extra cash to get some great discounts on homes.
One issue in the housing market is that investors believe that the banks are being too leinent on people who cannot afford their homes. The banks are continuing to give out questionable loans to avoid foreclosures, but this is not helping the economy or the people who are living in these homes, strapped for cash. In order for our economy to get back on its feet, we will have to take stronger actions on people living in homes that they cannot afford and open them up to investors who have the fund to live in that caliber of homes. Therefore, in order for the real estate market to prosper and investors to get the most of their money and take advantage of the low housing prices, banks must be more aggressive in getting people to pay for their mortgages.