It’s no secret that home prices in most parts of the country have taken a beating over the past few years. And while most of us might feel sharp pains in our sides when we think about our current home values, there are some great opportunities out there to capitalize on current market conditions. If you have ever considered buying a rental property, now might be the time.
Fannie Mae recently released its National Housing Survey which took the pulse of survey participants on housing related matters. Nearly 43 percent of respondents believed that rents are going to increase in the fourth quarter of 2011 and the average increase is predicted to be close to 3.2%. Why the increase? Well, uncertainty in the real estate market is likely playing a major roll as many buyers are reluctant to move forward as values continue to fall in many pockets of the Nation. Another major reason is that income, credit, and down payment requirements have all become more conservative in recent years making buying a home increasingly more difficult. The result being more renters and higher demand in the rental marketplace. If you are in a position to put down the needed equity investment on an rental property, it might make sense to speak with a financial advisor to determine if an investment property could be a good fit in your financial portfolio.
Prices in many areas have not been this low in half a decade and it is certainly a buyers market in most areas.
If you would like to find out about various Texas investment property financing solutions, please do not hesitate to give The Decker Group at First United Ba,k Mortgage Company a call at 972-591-3097.