Top Tips to Investing in the Housing Market of 2015
Investing in real estate is always a good idea says Jeff Adams. As an expert in real estate investment, he points out that the 2015 real estate market has been improving steadily. With a steady economy, lower-than-average interest rates, and a healthy construction industry, almost anyone can now afford to buy a home.
However, before you jump into the investment market with both feet, he points out that the 2015 real estate market is dramatically different from the pre-recession real estate market. Rates have changed, markets have changed, and investment areas are totally different from the pre-recession real estate market in the US. If you are serious about kick-starting your real estate career, you should read these real estate tips he was willing to share with us.
Secret #1 – Foreclosed Inventory Is Still Available
Although the market has improved and jobs are available, there will always be homeowners who are struggling to make ends meet. According to RealtyTrac, more than 15% of homes in the US are still in different stages of foreclosure, and likely to be repossessed by mid-2015. The states with the most expected inventory will be Nevada, Rhode Island, Florida, Illinois, and Michigan.
Secret #2 – Construction Has Increased
In late-2014, construction rates increased; and in 2015, these rates reached pre-recession levels. As a result, buyers can choose from single-family homes, condos, luxury dwellings, and multi-family homes in several locations all over the country. Location differences have cropped up though.
Construction has increased on the outskirts of large cities like New York and San Francisco in suburban areas and in satellite towns and communities. This is because these large cities have already reached the apex of development. For investors, satellite towns and communities around large cities are the best place to find affordable property of any kind.
Secret #3 – Mortgages in 2015
Mortgage rates are at an all-time low. Websites like Kiplinger stated that the average 30-year fixed interest rate mortgage rate hovered around 4% in 2014. This rate was expected to increase by less than a percentage point in 2015. Lenders like Freddic Mac and Fannie Mae also relaxed their lending criteria and down-payment requirements to encourage buyers.
For first-time buyers, this is great news and it will definitely provide a valuable boost to the market.
Secret #4 – Rents Will Increase
In 2015, most singles and couples will prefer to rent. This is because many of these people will need to save for a down payment. Apart from finances, other factors like a stable job, marriage, kids, etc. will also result in younger couples preferring to rent until the real estate market stabilizes. This is good news as investors can easily rent their homes and gain a steady income.
As an industry professional, Jeff Adams #1 Real Estate Trainer states that anyone can invest successfully in real estate. All you have to do is research. Once you have the legwork in place, nothing can go wrong. If you still require a little assistance or mentorship before you set out in your real estate career, just drop Jeff Adams a line and he will be glad to help you out.
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