Here’s Why Now Is The Best Time To Invest In Real Estate
Today, more than ever, real estate is being sold well above list price, and buyers are sniffing after buying. Here’s why you shouldn’t wait to get into the action.
The federal housing finance Announced Wednesday that it has extended moratoria on foreclosures of single-family homes and evictions to “at least” September 30th. This means that mortgage debt defaults continue to prevent banks from repossessing real estate, leading to an already scarce inventory of homes in markets across the country.
However, this does not mean that the time for real estate investments is over. If you play your cards right, you can emerge from this moratorium as a winner in the market – with a great real estate portfolio.
Remember: buyers are hungry
House prices are only rising, and those looking to own a home are hungry to buy – and willing to pay. Real estate prices will only rise thanks to the moratorium extension. So if you want to build a high quality portfolio, now is the time.
Farrah Ali
“Now is the ideal time to get the most out of the high-quality real estate market.” Farrah Ali, Expert in real estate investments and author of Diaries of a real estate investor, said. “Buyers want to buy, but they fall short because the market doesn’t have enough supply to meet demand. This is the time to get top dollars for your portfolio. “
According to the National Association of Realtors (NAR) House prices have risen Double-digit in nearly all U.S. metro markets, with the average price for existing single-family homes increasing 22.9 percent year over year in the second quarter of 2021.
Given the extension of the eviction moratorium until at least January 2022, it is safe to say that these property prices will only rise and that more and more buyers will enter the market. Now is the time to get into the action.
Keep an eye on submissions at the state level
While the federal eviction moratorium has been extended to early 2022, there are several states with different policies and lawsuits pending that make a difference when it comes to investing.
In early August, for example, the Alabama and Georgia brokerage associations filed an urgent motion with Judge Dabney Friedrich of the US District Court for the District of Columbia, calling on her to enforce the latest US Supreme Court order that the moratorium will not be easily extended could new legislation. The resulting legal decision could change the game for real estate investors in these states.
“Watch local and state laws and court rulings to get a clear picture of what the future holds,” Ali said. “It’s hard to say what action states will take, but in such a fast-moving market, having all the facts counts.”
Know when to buy and when to flip
It cannot be stressed enough that real estate investors should keep a constant eye on the market. It’s a good time to buy and hold real estate, but don’t hold onto your real estate for too long. Laws and guidelines change every day, and a lack of mindfulness could cost thousands of dollars.
It is probably time to buy and convert properties asap, especially since any new property on the market is unlikely to stay in the market for long. In 2020, the housing market saw sales surge like no other year since 2006 (a historic increase of 22 percent), and this trend is continuing Census Bureau data.
In addition, the COVID-19 pandemic has not only angered the real estate industry, it has led to a rise in the price of building materials, which is expected to rise as well. If your plan to buy and flip real estate, get your chance now before you miss out on your bottom line.
The real estate market is moving faster than ever. Housing demand is high and supply is low, so there has never been a better time to start investing. Real estate is selling more than ever far above list price, and buyers chew on the piece to buy – the market has never been so ready for you.
Victoria Kennedy is CEO of Atman Real Estate. Connect with her via email.