It's been a troubling time in the real estate market during the last few years. If you had invested in real estate you'll have lost your shirt. And if you were a homeowner who bought late in the boom times you are underwater now and owe more than your home is valued.
Pretty much everyone in the real estate market got hurt. Even though you stood on the sidelines in that time, if you're the owner of a home it?s probably worth less than it was 5 years ago? Perhaps a lot less.
But if you managed to make it the last few years and have some money to invest and still have excellent credit, you may be able to take advantage of a few of the lowest housing prices in several years? Perhaps the lowest they're going to be ever.
Down in Florida where I live, we are starting to see the investors come out. With a lot of troubled houses in foreclosure and so many houses underwater, there are some wonderful deals to be had.
One big New York investment firm by the name of the Blackstone Group has acquired up 536 properties in 11 counties just in the month of October 2012. This is obviously a sign of the market changing. And if you have got some money to invest here?s the sort of deals you might be looking for.
Short Sales
Many homeowners owe more on their homes than they are worth in the marketplace now. If they can wait it out they might be fine again sometime. But if they have to move or can't make their payments, then they could have to consider selling for a bit less than their mortgage is worth.
These short sales can be great investments if you know the way to get them.
That is the reason why short sales in Tampa are increasingly becoming a boom industry. Stockholders know a deal when they see one and many of these short sale houses are selling for 1/2 to 2/3 of what they were valued at 3-5 years back. Like the Blackstone Group, backers with money to invest are looking for these short sales and foreclosure properties.
But the problem is purchasing a short sale is not so simple. The lenders wish to get as much money as feasible for their loan properties so any person who wants to buy must be ready to negotiate with the lenders. Banks want to get as much of their cash back as practical. Having a good property consultant who understands short sales is vital for these investors. Even better, having a good property lawyer who knows foreclosures and short sale negotiations is even a giant plus.
Foreclosure Sales
Yes foreclosures are still going on in Florida. It could be years before the glut of adversity homes goes away. So there are still foreclosure auctions to be found. If you can be in the right spot at the correct time, you can snap these up.
Of course, with investors a foot it implies the costs of all homes will be going up. This is excellent news for nearly everybody. Particularly if it continues and we can get the excess of troubled properties cleaned up.
Except for now, this means it is a purchasers market? If you have the cash to invest.
Rick Hart is an online business consultant. He provides tools for short sale lawyers in Tampa that help with loan alterations, short sales and foreclosures.
Source: http://hotarticledepot.com/real-estate-investing-in-todays-market-2/
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