Real Estate Market Ready For Investors
March 12th, 2007
The foreclosure rate is fluctuating in the first of the new year, as Real Estate Executives in some markets are reporting a drop while others are experiencing significant gains.
These fluctuations mark an excellent time for investors to dive into the market.
The real estate firm Default Research reports that in locations like Michigan, Real Estate Executives are experiencing an 8 percent decrease in foreclosures, while Washington state is been hit by a 15 percent increase.
“There are no sure bets now when it comes to which states experience an increase or decrease in foreclosure activity,” explained Serdar Bankaci, president and chief executive officer of Default Research, Inc.
According to Bankaci, two states hit hard in 2006 by foreclosures – Florida and California – are experiencing the opposite effect in 2007.
“Just last year, most areas of the country were suffering with foreclosure activity,” Bankaci said. “Now, unfortunately, the country is in a national housing slump, which produces decreased home sales and reductions in home prices.”
According to Bankaci, this recent dip in home sales combined with a leveling off and stabilizing of interest rates, provides an excellent opportunity to make money in the housing market now.
“Investors can find a home for below market value and they can really profit,” he advises.