A while back I blogged about the foreign investors who came through looking at property, mostly land, and looking for "deals." Since then, it seems like our "home-grown" investors are out scouting out the deals as well.
Is this the "turn-around" we've all been waiting for? Who knows. But, it certainly is encouraging to see that the investors are starting to invest in real estate once again. There are probably as many reasons as there are investors...but, in my local area it seems like investors are looking to "pick up" residential income property. The Border Patrol here is apparently expanding and the general consensus is that they'll be bringin in additional personnel who will, of course, be needing a place to live.
Problem is, there really isn't a whole lot of the usual residential income properties, i.e. apartment buildings, multi-plex type housing, around here. So, I'm having investors looking at single-family homes as potential rentals again. This has not really happened around here for the past couple of years and it's very encouraging.
Hopefully this does signal a market that's ready to rebound. No one expects that it will happen overnight, and certainly we will not return to the feeding frenzy of several years ago...but it does appear that properties are starting to move again. And that's a very welcome thing.