Home Bidding Wars Make a Surprising Comeback amidst Bank Bailouts, Mortgage Rate Plunge, and FED Rate Hikes
Is now still a good time to buy real estate? In any real estate market, buying and holding real estate for the long term always wins! If you are looking for buy-and-hold cash flow investments in a market with a surging job market and population growth, or if you are a homebuyer who can get a fixed-rate mortgage for a fraction of what you pay in rent, now is a great time to buy real estate! In contrast, the house flipping business is dead! High-risk investors are losing their shirts and then some! Hard money loans are crashing in today's market. Luxury real estate markets are also crashing! E.g., here in California, homes valued at $2 million and up have already taken a 25% haircut! Always remember, real estate is localized, and every market is different. What might not make sense in one market might make sense in another. You must do your due diligence, understand how to evaluate a market, and run the correct projections on each property you are considering (preferabl...