If you want to know what I think about the housing market....
As a the result of a couple things house prices are not gonna “crash”
1st SUPPLY AND DEMAND
Believe it or not there are not a lot of people selling right now (because of the pandemic etc) which makes for low inventory, which results in higher prices and if they are selling they usually have a lot of equity so look out for seller financing.
2nd PAYMENT FORBEARANCE
Banks are allowing home owners to “delay”mortgage payments due to the pandemic. We will see some foreclosures etc. start to pop up late next year accompanied by hungry investors with cash in hand. Also remember if you are taking advantage of forebeafance in most cases, it will prevent you from being qualified for refinancing over the next 6 months or so because it shows that you couldn’t make your payment. Which means that you will not be able to take advantage of the best interest rates I have ever seen. Which brings me to me next point.
3rd The LOWEST LOWEST INTEREST RATES
I have ever seen. That’s right, consider this FREE money. When interest rates are below inflation rates... get it for as long as you can! Because when the rates go up, which they eventually will, you will be like that granny with a $500 Mtg payment, perspective and respectively but you see my point. Because the stock market it so unpredictable right now, investors and people with money are taking it out of the stock markets and placing it in more tangible/ predictable assets like gold and silver and guess....... houses!
So in my opinion, don’t wait for the market to “crash” because you may never pull the trigger.
And equity won’t feed your family unless you pull it out and use it to reinvest (not buy toys). Remember that equity may be here and gone tomorrow.
When I looked at the 3% return my 401k was producing I personally took advantage of the CARES act which allowed me to pull out my retirement without penalty (I did let my CALPERS ride) because I know that I can make 12-20% returns in real estate.
So if you have equality in your home, are tired of renting and making others rich or want to start getting into real estate (even if you are a 1st time buyer) let us show you how.....start by visiting our website:
If your looking for great real estate agents in the area:
If you are looking for a local lender that is knowledgeable about real estate investing, can get you great rates, fast close and a seamless process:
Mario Stowers MLO
Everyone have a wonderful Christmas
Let’s keep those in the fright in our prayers 🙏🏼
Let’s make 2021 a better year!!