CENTURY 21 Almar & Associates - North Port Dream Team Blog

It appears the government is finally stepping in and admitting that we are currently not only in a credit crisis and economic downturn but that way too many people are losing their homes to foreclosure.  The new plan they are calling "Project Lifeline" has now gone active and appears to give borrowers an extra 30 days to try to renegotiate with the lender before the foreclosure process goes through.  I feel that this is not going to be enough help to anyone that is in the situation of losing their home.  If the government really wants to help, maybe offer interest free loans for a short period of 3 - 5 years on homestead property?  I would love to hear what the public has to say about this one, something needs to be done and fast!  To view the article from the Herald Tribune please go to Project Lifeline.

Brian

    That's right, even the local news is commenting on the fact that the sales amounts are up and the prices are down!  What does that mean for all the buyers out there that are on the fence?  You better buy now or you will miss the "wagon".  Statistically speaking this is what happens to most people, they wait too long, they will wait until the news reporters start talking about how great the market is, then everyone jumps on board about 6 months later, and the market corrects itself because of it.  Those people end up losing money and wondering why everyone else makes money in real estate and they don't!

    The truth of the matter is, right now is the time to invest in real estate.  I truly believe that the bottom prices are the bottom, and sure the middle and upper priced homes will have to continue to adjust downward and this will probably take another 12 - 24 months with the supply we currently have on the market, but the truth is the absolute steals are getting harder and harder to find and Realtors across the board are noticing this. 

    So let's say you buy a property today as an investment, keeping in mind that a smart and good real estate investment is held for at least 5 years.  You purchase the property for $200,000 knowing that property was worth $350,000 in 2005, and believe me there are plenty of properties out there like this.  You hang on to it for 5 years and the property increases at nominal amount of only 3% per year and you are able to collect $1,200 a month in rental income.  In 5 years your property appreciated roughly $35,000 and you took in $72,000 to offset your expenses.  That is not a bad return on investment at all, but imagine in 5 years the value goes back to what it was in 2005 and you make $150,000 in appreciation plus the $72,000 in rental income, that is a potential that you stand to gain.  Either way your money is still much safer in the real estate market by purchasing today and holding your property for a minimum of 5 years.  Even in this market, people who purchased their property 5 - 10 years ago still have equity in their homes and are able to make a profit from what they paid 5 to 10 years ago.  Keep this in mind when looking at the market, this is one of the greatest earning potential markets we have seen in a very long time, there will be many millionaires made from this real estate market downturn, and they are the ones who are buying property right now!

    To get started buying property contact me right away.  I can get you signed up on my VIP Buyer program and just for mentioning that you found me on my website and signing up I will make sure that you get a home warranty on any home that you allow me to assist you in purchasing.  You will also be one of the first people to know when hot properties hit the market.  All of this for no cost or obligation to you. 

Brian Kile