Home Sales Are Up and Inventory is Starting to Drop
Home Sales Are Up and Inventory is Starting to Drop
The National Association of Realtors just released their latest report on December 2008 home sales, and there is good news. Home sales rose 7% in December 2008 compared to November 2008. Inventory dropped 11.7% to 9.3% months of supply at the current sales pace.
Reasons Behind the Increase In Sales
Investment opportunities in Florida, California, Nevada and Arizona and other speculative markets can be attributed to the increase in home sales because prices in those areas have been declining for awhile and unemployment is rising. Lower interest rates and affordable homes are driving buyers and investors to the market place at the moment especially in these areas. The National Association of Realtors reported that the national median existing home price in December 2008 was $175,000, a whopping 15.3% lower than December 2007.
REO’s, short sales, and foreclosures are major factors in the increase in sales and the drop in inventory making affordability once more a reality for today’s home first time home buyers. Take for instance the Las Vegas market. According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index about 60.6% of homes for sale in the Las Vegas metro area as of the third quarter 2008 were affordable for median income wage earners. In 2007, only 18% of homes for sale were affordable.
Affordability to Continue
In my opinion we can expect to see the affordability continue the first and second quarter of 2009. That’s why now is the best time ever for buyers/investors to buy Florida properties. So what’s the best way to do this if you have never bought real estate before? The answer is simply. By working with an experienced and knowledgeable real estate coach or mentor. Right now, I am working with a select group of new investors who want to take advantage of the opportunities that are available in the market, but are not sure how to start. I am looking for a team of individuals who want to change their life forever.
Real Estate Junkie Systems
Interest rates are expected to remain at all time lows for quite awhile so there is no excuse not to invest in real estate now. The Real Estate Junkie’s proven systems will teach you everything necessary to become a financially successful investor in the shortest period of time. Real estate investing is a business. The Real Estate Junkie System will also teach you how to set up your business, your business plan and business model, accounting systems, select a management company and team of contractors and how to do foreclosure short sales.
There are hundreds of gurus and systems out there but knowing what is the truth and what is a lot of puff and hype is the key. It took me years and a lot of wasted time and money to figure out what was the truth about real estate investing- what works and what does not. That’s why I decided to share my knowledge and information with others by coaching and mentoring students that wanted to learn about the right way to invest in real estate. So what are you waiting for? Let’s get started!
For more information about my courses and other seminars, please contact me at my website at http://www.realestatejunkie.com.
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