Today’s Real Estate Market: The Right Time to Buy is Right Now
December and January will be great months for real estate investing, and here are five ways an investor can make the holidays happy.
Cleveland, OH, November 28, 2006 --(PR.com)-- The months of December and January are generally good months for home buyers, but given current conditions in the real estate market, now is even a better time than usual to buy a home. Here’s why:
■ Mortgage rates are currently lower than they’ve been in almost a year, making homes more affordable.
■ Inventory is once again on the decline. After months of record numbers of homes on the market, the number is dropping. As it does, the selection of homes will again become limited. For prospective buyers, now might be the best time ever to buy a home.
■ With the market correction nearing an end, home prices are expected to rise again. According to the National Association of Realtors, research shows that home prices will not go any lower, and the median home price is expected to rise 1.6 percent for 2006 and will again increase in 2007. That means waiting could be a costly mistake.
■ Real estate remains the best investment available. The average home purchased five years ago has appreciated 49 percent, according to the NAR. While year-to-year fluctuations do occur, real estate remains one of the best-performing, most consistent long-term investments.
Savvy real estate investors will be in buying mode this winter, said Cleveland broker Rob Minton, a real estate investment expert and President of Paramount Wealth Group. The savviest will keep these five things in mind to make their holiday investing season a happy one:
1. Negotiate the best deal possible. Sellers are motivated this time of year, and with the number of sellers out there, there is room to wheel and deal.
2. Do your homework and some legwork. There are plenty of options for low-interest investor loans; find the best one for you. Get pre-approved before shopping for a house. Find an agent who is investor himself or herself, and work with a lender who has a track record for working with investors. Research the market and buy in an area where there is demand.
3. Don’t make the mistake of thinking you need to be rich to invest in real estate. Many investments can be made with little money out of pocket. Don’t waste valuable time because you think you must save more money before getting into the game.
4. Find a system that works and stick with it. Many people have made a lot of money investing in real estate, so don’t try to re-invent the wheel. Decide on your tolerance for risk and invest accordingly. Rehabbing houses might turn the best short-term return, but it is risky. Single-family homes are more stable and provide returns over the long term.
5. Get over your fear. Many will never think twice about signing a check over to their stock broker, but they hesitate to enter the much more stable world of real estate investing. With this unique buyers market, this is the worst possible time to let your fear paralyze you.
“It is my firm predication that 2007 will represent a fantastic buying opportunity for real estate investors, and the months of December and January are a great time to get started,” Minton said. “The question is: Will you leverage this opportunity to its fullest potential? This buying opportunity may be like buying Microsoft stock back when Bill Gates was just getting started. How many shares of Microsoft would you like to have purchased back then?”
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About Rob Minton: Minton is a CPA who left the world of public accounting to pursue a career in real estate. The president of Paramount Wealth Group, he has since been a successful Realtor and Broker. In 2004, he sidestepped conventional wisdom by narrowing the focus of his brokerage practice to the real estate investment realm. An investor in all types of properties himself, his Income for Life program focuses on single-family homes in desirable locations bought and sold with a proven rent-to-own method.
Paramount Wealth Group’s client base has grown to more than 400 in Northeast Ohio, and those clients earn an average profit of more than $28,000 on each home they acquire. Paramount earned a 2006 “Fast Track 50” award as one of the 50 fastest-growing companies in Lake and Geauga Counties. Minton is author of the book “Income for Life,” and is an expert on all areas of real estate investing. He has helped more than 50 other brokers establish Income for Life Centers in other markets across the United States and in Canada.
■ Mortgage rates are currently lower than they’ve been in almost a year, making homes more affordable.
■ Inventory is once again on the decline. After months of record numbers of homes on the market, the number is dropping. As it does, the selection of homes will again become limited. For prospective buyers, now might be the best time ever to buy a home.
■ With the market correction nearing an end, home prices are expected to rise again. According to the National Association of Realtors, research shows that home prices will not go any lower, and the median home price is expected to rise 1.6 percent for 2006 and will again increase in 2007. That means waiting could be a costly mistake.
■ Real estate remains the best investment available. The average home purchased five years ago has appreciated 49 percent, according to the NAR. While year-to-year fluctuations do occur, real estate remains one of the best-performing, most consistent long-term investments.
Savvy real estate investors will be in buying mode this winter, said Cleveland broker Rob Minton, a real estate investment expert and President of Paramount Wealth Group. The savviest will keep these five things in mind to make their holiday investing season a happy one:
1. Negotiate the best deal possible. Sellers are motivated this time of year, and with the number of sellers out there, there is room to wheel and deal.
2. Do your homework and some legwork. There are plenty of options for low-interest investor loans; find the best one for you. Get pre-approved before shopping for a house. Find an agent who is investor himself or herself, and work with a lender who has a track record for working with investors. Research the market and buy in an area where there is demand.
3. Don’t make the mistake of thinking you need to be rich to invest in real estate. Many investments can be made with little money out of pocket. Don’t waste valuable time because you think you must save more money before getting into the game.
4. Find a system that works and stick with it. Many people have made a lot of money investing in real estate, so don’t try to re-invent the wheel. Decide on your tolerance for risk and invest accordingly. Rehabbing houses might turn the best short-term return, but it is risky. Single-family homes are more stable and provide returns over the long term.
5. Get over your fear. Many will never think twice about signing a check over to their stock broker, but they hesitate to enter the much more stable world of real estate investing. With this unique buyers market, this is the worst possible time to let your fear paralyze you.
“It is my firm predication that 2007 will represent a fantastic buying opportunity for real estate investors, and the months of December and January are a great time to get started,” Minton said. “The question is: Will you leverage this opportunity to its fullest potential? This buying opportunity may be like buying Microsoft stock back when Bill Gates was just getting started. How many shares of Microsoft would you like to have purchased back then?”
###
About Rob Minton: Minton is a CPA who left the world of public accounting to pursue a career in real estate. The president of Paramount Wealth Group, he has since been a successful Realtor and Broker. In 2004, he sidestepped conventional wisdom by narrowing the focus of his brokerage practice to the real estate investment realm. An investor in all types of properties himself, his Income for Life program focuses on single-family homes in desirable locations bought and sold with a proven rent-to-own method.
Paramount Wealth Group’s client base has grown to more than 400 in Northeast Ohio, and those clients earn an average profit of more than $28,000 on each home they acquire. Paramount earned a 2006 “Fast Track 50” award as one of the 50 fastest-growing companies in Lake and Geauga Counties. Minton is author of the book “Income for Life,” and is an expert on all areas of real estate investing. He has helped more than 50 other brokers establish Income for Life Centers in other markets across the United States and in Canada.
Contact
Paramount Wealth Group
Mark Koestner
(440) 549-5945
quitworksomeday.com
Mark Koestner
(440) 549-5945
quitworksomeday.com
Contact
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