Investors - Don't Wait on the Sidelines Any More!
News released today by Realty Trac showed 1 in 54 homes entered foreclosure nationwide in 2008, up 81% in 2008, representing filings on more than 2.3 million properties. That's also a 225% increase from 2006.
Florida was 2nd highest in the country (behind Nevada, above Arizona and California) at a foreclosure rate of 4.52% (the US rate was 1.84%).
What's this do for me? you wonder - well, it means there are some fantastic buys available, it means sellers are motivated, it means banks are negotiating - all indicators of a great market for investors or first-time buyers.
Heard about the $7500 tax credit Uncle Sam will GIVE you if you purchase before June 30, 2009?
Read about the low low rates on 30-year mortgage loans?
Know about all the tax advantages of rental property you can take as an investor?
When you can buy a nice condo in Ormond Beach for under $80,000 or an oceanfront condo for $200,000, or a single family close to the beach for the low $200,000s - does it really matter if the market has "hit bottom?" Invest now, get the rent-depreciation-expense tax deductions and build your asset portfolio.
Real estate is always cyclical - values will come back!
Hey, I can suggest the properties and I can give you the reasons. Contact me about great buying opportunities in the Daytona Beach area.
Sherry Armstrong, REALTOR
sherry@sherryarmstrong.com
386-679-3191
www.sherryarmstrong.com