You Can Sell Your Home in Today's Economy

As I write from my desk on February 8, 2011, I am finding lots of homes being sold even in these tough economic times.  You must have someplace to live and call home so why not take an opportunity to get a real bargain?  Many 1st time buyers are in the marketplace those in age from 21-36 years who see this as a tremendous advantage to acquiring wealth.  Values will rise again however since we don't know when we tend to shy away.  We hear that the stock market is rising daily so we opt for the unknown and the risk rather than the future investment that we can enjoy now.  This is particularly true of the baby boomers who are more negative than positive about the future.  Generation X and Y are finding opportunity in distressful situations and buying property to substantiate that value.  Another group of individuals taking advantage of the low prices are the international buyers.

The Asians, South Americans and the Mid Easterners are buying with cash a lot of our commercial and residential land.  Just last week a German group sold one of Fannie Mae's offices that they had purchased the year before and doubled their money.  They took advantage of our poor, wreckless habit of over extending and made a nice investment and within one year made a cool $40 million profit.  This can work when you are buying a residence as well as investment property.  Buy when prices are low not when they are high.  The object of home ownership is steady accumulation of wealth and growth in your investment and not overnight gain.  Buying when the market is low is the ideal time to acquire wealth because if you take out a loan the interest rate is generally lower and the price advantage you get from a seller is greater.

What other group of individuals is purchasing up foreclosures now?  The investors are getting some unbelievable deals on the court house steps every month in every state.  Some states such as Ca, Az,Nv,Fl and Ga offer houses for 30% or more under value.  Good investment in the future for certain and this group knows that they can rent it in a heartbeat.  So many of us have screwed up the credit that renting is the only option.  Investors realize that housing prices will rise again in the future and they want to be in a good position.  They are getting materials to fix up and repair these properties at lower costs than they had in many years.  The helpers they are hiring to do the work are working for less money so it is win win for both sides.

Next blog we will talk about three more groups of people who are making money in real estate now.
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