Good Time for First Time Buyers and Investors
July 12th, 2011 \\ Buying and Selling, Home Ownership, Rental Property, The Real Estate Market, Twin Falls Real Estate \\ Tagged: foreclosures, investment property, Mortgage Rates, Rental Market, Rental Property
Is there any good news in the real estate market lately? Actually, there is, and on a couple of fronts.
First of all, Freddie Mac economist are optimistic that the housing market and the economy will both improve in the second half of this year, 2011. They are also predicting that the current historically low mortgage rates will continue in the 4.5 to 5% range for the rest of the year.
In addition, even though prices will begin to move up, there will still be many bargain priced properties on the market. For those who can qualify, there has never been a better time to buy!
The rental market is getting better and better for those investor buyers wanting to get into an investment property. The increase in foreclosures has contributed to what can only be described as a “boom” in the rental market. As vacancies are shrinking, many property managers are increasing the prices of their rentals, and they are generally not having a problem finding takers at the higher prices.
Single family homes and duplexes continue to be sought after as rentals for many people. If you are considering purchasing a rental property, now may be the best of times to make the move.
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