Top Tips for Investing in the 2015 Real Estate Market
If you are planning to invest in real estate, this is a great time to do so. The 2015 real estate market has been seeing considerable changes. Real estate rates are rising, construction is mounting, and the economy has stabilized.
However, the 2015 real estate market is a little different from the pre-recession market of 2009. Industry experts like Jeff Adams urge caution. At the same time, Adams shares a few valuable real estate investment tips with us.
Tip #1 – Use Your Feet
Almost 90% of people go house hunting online. This is a great way to find investment properties but it is not a perfect method. Adams recommends you close your laptop and search for properties the old-fashioned way. If you like a neighborhood, all you have to do is walk down and knock on a few doors to chat with neighbors. You may not find the perfect property but loose tongues will definitely point you towards great deals.
Do not forget to canvass open houses as well and make sure you are the first person to view the house. First offers are usually accepted quickly, and you may end up with a great deal.
Tip #2 – Educate Yourself on Real Estate Market Rates
Buyers need to be familiar with the local real estate market. If you are planning a real estate career, make sure check, and find local rates. This will definitely help you quote a price to the seller right away. You can refer to online websites, but it is a far better idea to find an industry mentor or qualified realtor to help you.
Tip #3 – Hook That Mortgage Right Now
Mortgage rates are at an all-time low and they are expected to remain the same until late 2016. Companies like Fannie Mae and Freddie Mac also offer special loan deals that require minimal down payments. According to the Federal Housing Authority, annual insurance premium rates have decreased from 1.35% to 0.85%.
These deals offer a huge advantage to first-time homeowners and real estate investors, and they can think about investing in two or three properties.
Tip #4 – Look at the Foreclosure and Short Sale Real Estate Market
Short sales and foreclosed properties are available for sale. If you want to buy an affordable property, you should think about researching the foreclosure real estate market as much as possible. Foreclosure markets have changed since 2009 and the statewide distribution of foreclosed properties tends to change with the local economy.
At present, New York, Miami, etc. have the highest amount of foreclosed properties ready for sale. Do not forget to check short sales and zombie properties (properties that are stuck in the foreclosure process) as well.
Jeff Adams #1 Real Estate Trainer states that anyone can become a real estate investor provided they do their research correctly. He recommends you attend a few real estate investment classes, and find a mentor who can help you with your investment choices. With the right research and real estate expert guidance, you can definitely find good investment properties in the US.
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