It’s Time to Get Back in to Single-Family Southeast Michigan Real Estate
Posted in Southeast Michigan Real Estate by Michigan Real Estate Expert on April 16th, 2012 Are you unsure about buying Southeast Michigan real estate in Oakland County? Warren Buffet was recently quoted as saying, “If I had a way of buying a couple hundred thousand single-family homes…I would load up on them and… take mortgages out at very, very low rates…it’s a leveraged way of owning a very cheap asset now, and I think that’s probably as attractive an investment as you can make now.”
Homeownership in the United States is dropping and we are becoming a society of renters, according to a Morgan Stanley Housing Market Insights report. Why is this happening?
- It’s harder to get mortgages: Banks have made it more difficult for people to become homeowners. If they have marginal credit or small down payments, they won’t get approved.
- Some have a fear of buying: The economic and real estate market collapse caused many people to fear buying a home. Many who could buy Southeast Michigan real estate right now are sitting on the sidelines waiting for the market to recover. If your credit is good and you have the money for a down payment, all reports are saying, do not wait!
Here are a few tips to help you make the most of this real estate market:
- Act now: Savvy investors know the market has started to recover. If you wait for the media to say it’s ok to start investing in Southeast Michigan real estate again, it’ll be too late.
- Earn rental income: If you buy a second (or third or fourth) home or a home you don’t want to live in, rent it and generate income. Large investors are saying single-family real estate is the way to go right now.
- Take advantage of low prices: Prices have fallen dramatically in a lot of markets, while rental rates are increasing.
To find single-family investment properties or your own new home, call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com. I’ll help you find the property that meets your investment goals.
Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney
RE/MAX Showcase Homes, Birmingham, Michigan
Call: 248-514-2640
www.NorthWoodwardHomes.com
