Now is the best time in years to purchase investment real estate. I was at a seminar this week in Charlotte concerning the current housing market and some interesting statistics were persented to us about the mortgage situation in the US. You know the one that every news market in the country wants you to believe is at its worst levels in history, the same one that says the sky is falling every night. Well, just to put some insight on this for you:
50% of all houses are in Prime Loans-these are your normal everyday 15 or 30 year loans.
6% of all homes are on the FHA/VA Loans
35% of all homes are owned free and clear
9% of homes are on Sub Prime loans-These are the loans that are supposedly ruining Real Estate in our country. The interesting fact with all of this is that only 4% of the sub prime loans are defaulting.
Now the last bit of information I am going to leave you with is that even with all of the doom and gloom problems you hear about, 2008 will be one of the top 10 all time years for home sales in the US. In 5 years despite what the news is saying homes will have a higher value than they have right now.
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