Thinking about buying a second home or an investment property in the Coachella Valley? A recent article by Realtor Magazine shows big drop in inventories of for-sale homes across the nation has led to a buying frenzy in some sought-after neighborhoods, real estate professionals report. A gradual gain in home prices is also following suit, they say. If you've been putting off investing in a second home or investment property, now might be the time to take the plunge.
New construction has slowed dramatically over the last few years and there's an anticipated back log of distressed homes that have not yet hit the market. Some homeowners who have been holding on to homes that are worth less than what they paid for them have been waiting as long as they can in hope for a change in the market. But most are now coming to the realization that there won't be any drastic changes in the market anytime soon and will be finally be abandoning the hold they've had on their homes.
So should you wait for those homes or move forward with your investment plans? There's a trend showing homes under $250,000 are คอนโด กรุงเทพ moving quickly so there's a rush to pick them up. The distressed homes aren't anticipated to hit the market in bulk so with the demand for those types of homes it likely won't affect the pricing further. In other words, even though there will be a number of distressed properties hitting the market, it won't reduce prices any further than what they already are.
My advice is to secure your investment properties now - I'm anticipating a busy season with lesser inventory driving home prices up. At the moment inventory is low and there are some unrealistic sellers on the market. But there are still good deals to be made, especially if you are in position to put together unique offers with quick escrow or cash offers. Ironically distressed homeowners walking away from their properties are contributing to a hot rental market is so if you're looking to invest in a property you should have a relatively easy time leasing your property. If you don't want the hassle of managing a rental you can hire a property manager to care for the home.
At this point we've hit the bottom of the market and if you hold out too long an a good deal, it might just end up slipping right through your hands.
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