According to a recent article, some interesting things are happening in some previously devastated real estate markets:
- Housing sales are up over 20% from last year in Las Vegas, Nevada!
- Housing sales are up over 79% from last year in Riverside, California!
Both of these ares have been very hard hit by “mortgage meltdown” - and both of these areas are definitely behaving in a “whipsaw” fashion, with the massive and rapid declines giving way to similarly violent moves upward in market activity.
One of the primary pieces of evidence of the bottom of a real estate market is when serious investors begin buying in markets that are popularly considered to be “distressed”. And that is definitely happening in some of the decimated real estate markets like Las Vegas.
My friends, I’ve been saying for months now that this may be the best buying opportunity you’ve ever had for residential real estate. And I’m sounding the call again now: The time is now.
Thanks for reading FreeRealEstateTraining.com!
SECURE & CONFIDENTIAL
2 Comments So Far»
Hi Bryan, thanks again for your encouraging newsletters you provide to us investors. You’re right, now is the time to invest or we will regret it someday.
It seems that the Las Vegas NV housing market has declined to the price support levels required by investors. Houses that sold for high $400K to $500K are now available in the high $100K to low $200K range, which means an investor can lease out the property for a modest positive cash flow at current market rents (people still need a place to live in that market).
The real issue for investors is the credit crunch. Lender requirements for high FICO scores (above 720 for non-owner-occupied), larger down payments (20% on average), full documentation, large seasoned reserves in the bank, are putting pressure on real estate investors to look elsewhere for financing. Now is a good time to start farming private lenders, especially those folks that have self-directed retirement accounts looking for a safe haven from the stock market.
Leave Comments Below»
Gravatar are enable in this blog, if you want a picture associated with your comments, register yourself a gravatar here