We all know we need to invest, but how do we do it safely. Most people invest in stock market in one way or another, but how do we know we are buying at the right time. Investment advisers and the financial news tell us we need to invest steadily to take advantage of the market’s ups and downs. But what happens after we are retired, and we can’t handle the down part. For the last 10 years interest rates have been so low that it’s been almost impossible to get a decent return. The stock and bond markets are full of problems right now.
Real estate is a different story. When you buy property you’ve got something tangible. You’ve got something you can see, feel and use. You can live in it, or you can lease it out, or you can sell it. Right now if you’re investing in Palm Desert California property, you can get a great deal. There are thousands of properties, in Palm Desert, that are either in foreclosure are headed for foreclosure.
Prices have gone down so far that it’s easy to find properties that are valued at 50% of the previous loan value. Looking at ForeclosureRadar today, I found a property on E. 19th St. that has $567,000 worth of loans on it and is currently valued at $186,000. That’s the price they expect to get for it at auction. there is another on South Shelton Street as a current value of 160,000, but it has loans on it for $511,000. These places are going to sell to the next buyer at a fraction of what the last buyer paid.
Real Estate has always been a primary investment. Everyone needs a roof over their heads of some type. Over the last few years, new home owners were forced into ridiculous mortgages that created un-affordable balloon payments within 6 to 10 years. This has all come crashing down now, and these unhappy homeowners are bailing out of their now un-affordable homes. This is causing a glut of homes on the market and reducing prices so that investors can now buy a California properties that they can now rent out for a positive cash flow.
So if you can buy property for half what it sold for five or six years ago you can probably afford to lease it to the same people who tried to buy it back then. They can easily afford to pay the rent on a property that was purchased at half the price it was a few years ago.
Low interest rates are combining with the low prices to really help the investor out. (This rate probably won’t last long, but my sister just got a 30 year fixed rate loan for 4.62%. That was in Palm Desert, CA.) This really helps investors finance homes so that they can rent them out very profitably.
It’s easy to see that you can get a great deal on foreclosed property in Palm Desert, California right now. If you want to see how good of a deal, just use one of the free financial calculators on the Internet to crunch the numbers. You can find the estimated value for these foreclosed properties www.PalmDesertForeclosures.org.
Get free ForeclosureRadar search at www.PalmDesertForeclosures.org. Get the ultimate low down instantly in our Palm Desert Foreclosures guide.
Tags: bank owned property, Foreclosure, Foreclosure/Repossession, foreclosures, General Real Estate Tips, home, house, investing, property, real estate investing, REO