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Davis County Utah Investment Property Not all homes in Utah are single family detached. If you're looking to invest in real estate there are many options to purchase residential multi-family properties. There are many duplexes, triplexes, and fourplexes for sale In Utah. A property is considered residential if it has 4 or less units. Utah Investment Properties
Davis County Foreclosure Homes for Sale The term "foreclosure" is not synonomous with "deal," but often times Utah Foreclosure homes can be purchased at a discount. From pre-foreclosures and short-sales, to HUD homes. Foreclosure homes can offer investors and first time home buyers alike an interesting real estate opportunity. Davis County Utah Foreclosures
Davis County Utah Condos for Sale Condos offer an excellent solution for the Davis County home buyer who doesn't have a lot of time for yardwork and home maintenance. Condos usually allow buyers to be closer to city centers, and get a much nicer home for the price. Condos are usually smaller than houses, but not always. Condos for Sale in Utah
Davis County Houses for Sale When most people buy Davis County real estate they are looking for a single family detached house. A house generally comes with a yard, and more freedom to do what you want to your real estate investment. To view houses for sale in Utah click this link: Houses for sale in Utah
It's a buyers market in Davis County
A buyer's market is technically defined as: "A market condition characterized by an abundance of goods available for sale."
The in-depth definition from the same source is: "When a buyer's market exists in commodities, the buyer is able to be selective in purchasing contracts, as there are many individuals wishing to sell. Furthermore, these buyers will generally be able to purchase contracts at lower prices than those that were previously prevalent."
The challenge with that type practice in real estate is that you can't slip into real estate investing. We don't buy our housing investments month after month with prices up and down. Instead, we slap down the down payment when it's time to buy. And wherever the market is, is where we start.
The best strategy for real estate and the best way to make money in real estate is to buy low, when the conditions are in the favor of the buyer to buy. Your start-up purchase is where you "begin" your investment growth -- and that's why I submit to my buyer friends the above headline question, again: "It's a buyers market. So when are you going to buy?"
Today in many markets you can buy a house for 5 to 10 percent below asking price. For a $300,000 purchase, that's between $15,000 and $30,000 off your mortgage. On a 30-year fixed rate mortgage at 6 percent, that reduction in mortgage amount would save about $180 per month (more than $2,000 per year).
In addition, many sellers are willing to help with closing costs just to sell their house. For example, in Fairfax County, Virginia (just outside the Washington, D.C. area) half of the 3 bedroom 2 bath single-family homes sold in the last 30 days included a seller subsidy ranging from $500 to $15,000 (the average seller subsidy was $8,790).
Then there are the prices. While they have been flat over the last couple years, they are starting to increase. This is where you're research on the housing market must turn local. The national numbers mean nothing to you when it comes to investing in real estate. Where are your average prices? Are they flat, deflating or appreciating?
Nevertheless, there are hot pocket markets. In the DC area, there are several zip codes that, when looking at the numbers, are technically in sellers markets. In these areas, homes are selling in under 60 days, prices are up, unit sales have outpaced the level from a year earlier and total sales volume is expanding. The thing is, though, the pressure from surrounding zip code markets keep the prices from escalating as fast as their potential.
Let's review -- you have plenty of housing inventory from which to choose. Sales are slow, so sellers are offering thousands of dollars in incentives to tempt you to buy. Prices are flat. Interest rates are still historically low. Sounds to me like the buyer who has been waiting on the sidelines needs to get off the fence and pull out his checkbook.
Written by M. Anthony Carr
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