Sacramento Investor News
The California region's home prices are 16% undervalued, says IHS Global Insight, an economic forecasting firm. It bases its calculations on the historic norms of home prices, interest rates, area incomes, populations and past discounts.
However, the company says prices still may not have reached the bottom because of job losses, weak consumer confidence and surplus inventories.
Many of you are waiting for the bottom...
As an Investor, if you buy an investment home today at below current market value... doesn't that mean you got the market's bottom price (or close to) TODAY? Most investment homes in our area get the best cash flow at a purchase price up to $150,000.
This section of our local real estate market is on fire right now as many of you know!
The current Shadow Inventory (homes that have been taken back from the bank but have not been put up sale) are being held back by the Banks and that leaves us Investors with less deals to choose from! It is also drives up prices in that price range.
What have you done to prepare for the next wave of bank owned homes?
Now is the time to pick your neighborhoods so you can start watching for deals. I am talking about pin pointing the exact cross streets that you are going to become an expert in (or find a Realtor who is).
Contact your Realtor and have them set you up for automatic email notification when homes come on the market and are sold in your target area.
As always... I recommend that you meet with your Sacramento mortgage professional to get pre-APPROVED! It will strengthen your offer and having your duck in a row will allow you to take the home down quickly.
Happy Hunting!
Want to get out in the streets and look at real estate? Join us this Saturday for our Sacramento Investor Boot Camp. We will take you out in the streets and look at all of the Sacramento real estate opportunities currently available!
I think we may have room for 1 or 2 more...
ENLIST TODAY>> www.SacramentoInvesorBootCamp.com
This blog by:
Team Newington
Sacramento Mortgage Planners
First Priority Financial
(916) 687-6868
Happy Hunting!
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