Woodbridge, VA (PRWEB) October 17, 2008
The months of December and January are generally good months for home buyers, but given current conditions in the real estate market, now is even a better time than usual to buy a home. Here's why:
- Mortgage rates are currently lower than they've been in almost 2 years, making homes more affordable.
- Inventory is once again on the decline. After months of record numbers of foreclosure homes on the market, the number is dropping. As it does, your choice of bank-owned homes will again become limited. For prospective buyers, now might be the best time ever to buy a home.
- Without the market correction in sight, home prices are expected to bottom out. According to the National Association of Realtors, predicts growth in 2009 "The outer Washington, D.C., exurbs also are coming around very strongly." That means waiting could be a costly mistake.
- Real estate remains the best investment available. The average home purchased five years ago has appreciated 49 percent, according to the NAR. While year-to-year fluctuations do occur, real estate remains one of the best-performing, most consistent long-term investments.
Savvy real estate investors will be in buying mode this winter, said Prince William County resident James Best, a real estate investment expert and President of Genesis Investment Group, LLC. The savviest will keep these 10 things in mind to make their holiday investing season a happy one:
1. Negotiate the best deal possible. Sellers are motivated this time of year, and with the number of sellers out there, there is room to wheel and deal.
2. Do your mortgage homework. There are plenty of options for low-interest investor loans; find the best one for you. Get pre-approved before shopping for a house.
3. Consult your accountant. What are the tax benefits or consequences of your investment? Could you gain an advantage by buying in December rather than January, or vice versa?
4. Assemble a team of experts. Don't go it alone, especially if you're investing for the first time. Pick an agent or agents who are investors themselves and a lender who works extensively with investors.
5. Don't make the mistake of thinking you need to be rich to invest in real estate. Many investments can be made with little money out of pocket. Don't waste valuable time because you think you must save more money before getting into the game.
6. Plan for the long-term. Set a goal for what you want to accomplish with real estate investing -- whether it be for extra cash flow or equity, then invest according to what will work for you over the next year, two years, five years. In some markets, money can be made in the short term, but the overall stability of real estate makes it attractive in the long term.
7. Find a system that works and stick with it. Many people have made a lot of money investing in real estate, so don't try to re-invent the wheel.
8. Explore creative options. Did you know you can invest in real estate with your IRA? With what's called a self-directed IRA, you can fund your retirement nest egg with real estate and not have to settle for the mediocre returns and disproportionate risk of the stock market.
9. Capitalize on demand. The number of U.S. households is expected to increase 15 percent over the next decade, creating an even higher demand for housing. Look at areas where you will be filling a need.
10. Get over your fear. Many will never think twice about signing a check over to their stock broker, but they hesitate at taking the plunge into the much more stable world of real estate investing. With this unique buyers market, this is the worst possible time to let your fear paralyze you.
"It is my firm predication that 2008 will represent a fantastic buying opportunity for real estate investors, and the months of December and January are a great time to get started," Best said. "The question is: Will you leverage this opportunity to its fullest potential? This buying opportunity may be like buying Microsoft stock back when Bill Gates was just getting started. How many shares of Microsoft would you like to have purchased back then?"
A veteran entrepreneur and real estate investor, James Best is a licensed real estate agent and CEO of Genesis Investment Group LLC which acquires and manages real estate properties. Mr. Best is assisted by his wife, Judy Best. She is a military veteran with over 25 years of leadership and management experience. Together they have amassed a wealth of knowledge and experience in financing, purchasing, marketing, selling, leasing, and managing real estate.
Download a copy Mr. James Best Investment Book at: http://www.theinvestorsystem.com/
Mestizo Media Group, Inc. / Eugene O. Smith, Jr.
We manage your (SEM) Search Engine Marketing by shaping your web-presence. Then our P.R. brings you closer, by making you more available to your target. Then we launch campaigns that will make you valuable to the exact demographic that you are seeking.
corporate @ mestizomedia.com
# # #