Ilyce Glink Show – Now is the Time for Real Estate Investment – April 29, 2012

Now is the time for real estate investment. The foreclosure crisis and short sale crisis have been hard on homeowners but there is great opportunity in the housing market for those with the means to buy property. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show April 29, 2012 on WSB Radio.

Today is the first day of the beginning of the rest of your life as a real estate investor. I was giving a series of speeches this week and I met all kinds of people. We talked about the foreclosure crisis, the short sale crisis and the $25 billion mortgage settlement among other topics.

It remains a critical time for many homeowners but did you know that in Phoenix, 45 percent of all buyers in the housing market are investors? These people are buying property they are not going to live in. What’s going? Simply put, those looking for investment opportunity are waking up to a startling fact: there has never been and there will never be another moment like the one we’ll see over the next six months to a year. Now is the time for real estate investment.

That $25 billion mortgage settlement is going to result in a major push of halted foreclosures through the pipeline. And those properties will be available for people with the cash and credit score, who are only earning a half percent with their money in a savings account. For those who can, now is the time to build a real estate empire. It’s a time for continuation of the American Dream, a modern version of Manifest Destiny.

Warren Buffet said a few months ago (I’m paraphrasing) that real estate is on sale and when assets are 50 percent off, you buy them. Eventually you’re going to make money.

Callers and I discuss the hot topic and what the next year holds for the evolving housing market.

You can get more personal finance advice, real estate advice and consumer advice by listening to this radio show and by listening to my other radio shows.  Simply download them to your phone or audio player. You can also read our articles on real estate, credit, and consumer advice articles as well.

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One Response to Ilyce Glink Show – Now is the Time for Real Estate Investment – April 29, 2012

  1. Lucas says:

    In some locations, housing prices are still way too high, when compared to local median wage. People with money have no good place to put it these days. They can outbid the person who just wants a home. Sure, these investors pay too much (creating a comp problem for real home buyers), but since the investor’s only skin is the down payment, they do not care. They know that someone else (the tenant) will actually be paying the mortgage payment. Even if rents do not quite cover expenses, eventually these investors will be able to sell at a profit. They buy these houses, make them barely habitable and rent them out. In some communities, there is very little rental inventory, so tenants are compelled to rent substandard housing. Choosy tenants in these communities cannot hold out for a decent place. The normal competition that encourages landlords to offer decent housing for fair rent no longer operates.

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