Eric E. Huish
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The housing recovery is (really) here
October 12, 2012
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It doesn’t matter which housing report you look at. Whether it’s home sales, home building activity or the inventory of properties for sale, the housing recovery has finally arrived. Here are the opportunities that people are cashing in on right now:Super low mortgage rates. Home owners and buyers are locking in at never-seen-before rates. Mortgage rates remain near historic lows, but most experts agree they won’t remain that way forever. Eventually, as the economy improves and the government stops taking steps to keep borrowing costs low, home loan rates most certainly will increase.
Low home prices. Fence-sitters beware: Waiting may not get you a better deal on a new home — in fact, it’s likely you’ll pay more if you do. Housing prices have bottomed and are increasing in many areas of the country. While no one is predicting housing prices to increase like they did during the boom, prices are projected to rise in most areas in the coming years.
Cheap rental properties. Investors are snapping up properties nationwide because of the strong demand for rental housing is expected to continue. Many renters are looking for single-family homes instead of apartments.
New homes. Many builders are offering great deals on new homes that, combined with low mortgage rates, make it a great time to build.
Want to learn more about the recovery and the opportunities it creates? Read more about the housing recovery in this report.
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