How long will this market last?

I'm often ask when will the real estate market turn? Great question and I'm going to do my best to answer it in this blog.

The answer I believe is lending. People need to be able to get mortgages to buy homes right? Remember all the different loans they used to have to choose from? Interest Only, Buy Down, Stated income, Straight 30 year, 15 year, no doc and many other different types.

These types of mortgages would stimulate people to actually look for properties they could buy and know that they could get the money to do it. So to me that is the answer lending must to be more available. I not saying they need to go back to those bad loans, but lending needs to be more available. They could set up 4% down-10% down-20% down deals that would help people buy their own homes.

With the economy and job market the way it is it may take a while for that to happen. The great thing about real estate is people need a place to live. Even though they may not be getting a mortgage they still need a place to live.

That is why we are doing a lot of lease options for our investors. We are finding that people still want to buy real estate and own their own home. We require $1500-$2500 down, we also get a credit check to know how long before they can re finance the home. We base the length of time of the option on that data. For example if their credit report says it will take them 12 months to get their credit repaired, we give them 12-18 months on their option. A Lease Option will get you top of the market price on your home, and the optionee will pay top rental rates for the property. No realtor commissions at when you close your property. That saves you thousands of dollars. The monthly cash flow on our properties averages $600 net a month or $7200 a year.

We do have a website set up were you can see these types of properties www.Rooftopvideo.com . Go check out some of the properties we are doing and have done. This site is jammed packed with great information for you the investor! Brett Young Valley Realty