Time to Buy
WHY NOW IS THE TIME TO BUY
Once in a lifetime values
Ø Due to irrational exuberance and easy money, unneeded homes were purchased causing an overbuilt condition.
Ø Home owners purchased at prices and loan terms they couldn’t afford and now have to sell.
Ø Record foreclosures have forced lenders to tighten loan underwriting standards making it difficult for prospective buyers to qualify for a loan.
Ø The combination of excess homes and fewer buyers have made sellers desperate to consummate a sale putting downward pressure on home prices.
Ø Lenders highly motivated to avoid taking back additional properties are willing to discount their mortgage to facilitate a sale.
Ø Attractive homes in sought-after areas are now available at discounted prices of 30% - 40%.
Attractive Financing
Ø For qualified buyers mortgage money is available.
Ø Interest rates are attractively low 5.5% - 6.5%.
Profit Potential
Ø People always need a place to live.
Ø Because of the weather and cost of living the Phoenix area has been and remains a desirable place for people to come to live and play.
Ø A disproportionately high number of the 77 million baby boomers are projected to move themselves and their money to Arizona upon their retirement
Ø As in the past, the real estate market will rebound, the over supply of homes will be absorbed, and demand will reappear.
Ø Because builders have shut their doors or cut back considerably there will be little inventory to satisfy the demand.
Ø INFLATION - The Federal Reserve has given up on fighting inflation in order fend off or minimize a recession. Inflation will cause the cost of housing materials to increase and therefore the cost of homes.
Ø Real estate has been a hedge against inflation escalating in price 2% to 3% above inflation rates.
Expert Assistance
Ø Robert Long has been practicing real estate brokerage for over 30 years and has successfully navigated through numerous bubbles and busts. The know-how gained over those years is shared with our clients to guide them through the maze of safe and profitable real estate investing.
