People across San Diego are renting apartments, houses, and condos.
In doing so, they�re really tossing their dollars out the car window. If
you can realize that real estate is now and will forever be a long term
investment, investing now is definitely the best decision. ESPECIALLY
NOW.
Interest rates are lower than they have been in decades and housing
prices have also fallen. Never before have we seen such opportunity when
it comes to investing in real estate. Even people with less than great
credit can find a mortgage with a competitive rate in the market today.
Lenders are tripping over themselves to make attractive offers to
potential customers.
Foreclosures have reached an all time peak all over the nation. States
such a California, Florida and Nevada have been hit the hardest. Upscale
homes are in foreclosure like never before. Years ago, you only saw
foreclosures in blighted areas. Today, you see them all over the place.
New construction is suffering to a point where housing starts are at an
all time low. The market is very gloomy for sellers, real estate agents,
lenders and developers. The market is absolutely wonderful, however, for
buyers. This is your market. You can not only take your pick when it
comes to housing choices, but also when it comes to home loans. There
truly has never been a better time than now to invest in real estate.
Though you may think of your house as your home, in addition, you should
also think of it as an investment. If you are renting a house or
apartment, you are not investing. You are paying rent to someone else
who is investing. They are using your rent to pay off their mortgage and
making money off of you. In addition, you are not even allowed the tax
incentive for home owners. Any interest that you pay on your mortgage
can be deducted from your income tax. So can your property taxes. This
can make a substantial difference in your income tax.
Right now is the time to invest in real estate. Take advantage of the
fact that there are not many buyers on the market and a lot of sellers.
Also take advantage of the fact that the interest rates are so low that
lenders are dying to make you a loan. Even if you have a past bankruptcy
you can still get a mortgage in the market today. There is money out
there for everyone, you just have to look.
Make sure that you search around before purchasing your home. Location
is everything when it comes to real estate. You are better off to have a
shoebox condo in a nice area than a spacious home in a blighted area.
The shoebox will appreciate in value, the spacious house may actually go
down in price. Take a look at the areas where the school districts are
much sought after if you are wondering whether the area is a good area
or not.
If you are afraid to invest in real estate, stop being scared and paying
a mortgage for someone else. Start taking advantage of the low interest
rates and purchase property for yourself. Eventually, the property will
appreciate in value giving you a place to live as well as a long term
investment.
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