There is more evidence to suggest that in last 7 months before 2019, there will be little of slight changes that will be in the positive which is set to occur later in the year. Many forecast and predictions like these have surfaced over the last couple of months pointing to the fact that it is time to start shopping.
In accordance to a recent analysis from CoreLogic; since the start of the financial crisis in September 2008 led by the sub-prime mortgage crisis, there have been a total of 3.5 million residential homes been foreclosed in the US itself.
Zillow chief economist Stan Humphries said that it was time for those shoppers who have been waiting to purchase their home because the market is close to the bottom. However, when the rock bottom hits, it is nearly impossible to make a purchase at exactly the right time where the price is at the lowest.
Thousands of people are starting to invest into real estate because of the recent events happening in order to capitalize on the massive transition taking place. Research done by the Commerce Department shows that over 92% of Americans attain their wealth from equity that they own from their home. Owning a home is the main priority for the working class, and so millions of people tend to wait for a suitable time to make a residential purchase.
On the other hand, if you look at real estate to earn some fast cash, you are at the best time frame in 2018. Fast profits can be attained in property by purchasing at Below Market Value prices from sellers whose priority is to let go whatever property that they have as soon as possible. Where to look for these motivated sellers is another question entirely, but the main thing is that these properties could be sold for a good and substantial profit.
In addition to that, people are finding success in making fast cash by purchasing properties that are "physically" dilapidated. Although it might be pretty run down and would require a lot of maintenance and utility repairs, hundreds of thousands of American real estate investors are purchasing these types of real estate properties below the market value. They would then fix it up and sell it for substantial profits.
From a property investor's perspective, the current events happening is a very positive indication that the buying season is getting underway. This is evidently a spark of revival in the housing market that has been in a very bad shape since September of 2008. The Zillow report also pointed out that in the 1st quarter of this year, the rate of homes foreclosed fell to levels that were exactly in 2009. This meant that in every 10,000 homes, there were 7.4 being foreclosed.
Overall, there were over 65,000 completed foreclosures in March of 2018 compared to last year, which was at more than 80,000 homes. This marked an improvement of over 15,000 homes being foreclosed. Two of the biggest improvements were seen in the states of Nevada and also Arizona.
All the facts and figures from the property investment outlook this year promise a gradual recovery. Prices of real estate are on the rise indicating a vital sign of revival in the housing market. Even in states such as Phoenix, one of the worst hit areas in the 2008 downturn is showing signs of gradual improvement. Middle income earners are aiming to make money on rentals because of the improved affordability. Due to these circumstances, first time buyers are beginning to make a move for rental homes, which is really boosting the housing market in 2018.
Therefore, the property market in 2018 is allowing lots of people in all walks of life to make a difference in achieving financial stability through the investment of real estate. It is by simply understanding that the time is right now for property that truly is important to note because you will have to wait for the next suitable time frame in order to make an investment.