Now is the time for real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. investment. The foreclosureForeclosure is the legal action taken to extinguish a home owner's right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property, so that the property can be sold in a foreclosure sale to satisfy a debt. 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 mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. 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.
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