Investment Time?
October 12, 2007 by JonBenya · Leave a Comment
It seems to me like the number of clients looking to purchase a primary residence right now are outnumbered by investors looking at the current market as the perfect opportunity to find long term investments.
Although I have a few people interested in picking up renovation projects, more of my investment clients are looking for that property that can be rented for more than the annual cost of a mortgage at 100% Financing. What is even more exciting is that we’re actually able to find and assess the viability of these properties quickly and accurately. It’s the concept of strength in numbers. Because I have multiple clients looking for the same type of properties, homes that may not work for one may work for others, so it seems that I am constantly going to the same properties 3-4 times to show different clients.
What does concern me about it is that there is still a general increasing trend in the number of available properties while sales figures continue to dip slightly. The bit of good news about it is that Greenspan seems to feel that the mortgage market has been through it’s worst, but now we need to see how quickly that will translate to the sales market directly. Included are the sales trends statistics from the last 7 years, where you can clearly see the difference in how the market has turned.
~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell
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