Profits from Property
Prime Properties For Sale
I've often wondered why bingo players call out "house!" when they realise they've won. My own explanation, as a property investor, is that there could be no better prize than a house. A house is always a valuable asset and a shrewd investment whether the housing market is on a high or has hit rock bottom. But the recent pessimism on both sides of the Atlantic has made prospective buyers a little too wary as most are waiting for real estate prices to plummet even further.
Take No Notice of Media Sensationalism
According to the press - that always sensationalise doom and gloom because bad news sells more papers, there will be further drastic drops in property values looming on the horizon.
Most real estate agents, however, share a more optimistic view. As with all things financial, property prices are cyclical and prior to 2007 had been proven to double in value every seven years even taking into account any dramatic fluctuations during that period. But then along came the credit crunch and everything changed, property prices losing a large percentage of their value.
Wise purchasers who think in the long term know how to make the most of the situation in times of both boom and bust; their strategies can be compared to the seven lean years and seven fat years in The Old Testament.
There's never been a better time to buy anywhere in the world, and there are many hot spots not to be missed. Apparently, Detroit is a landlords' paradise and if lived there I'd most likely take the opportunity to buy several houses. Take a look at sites like The Move Channel There are decent family-sized houses for sale priced at just over 8,000 GB pounds - so, in theory, you can even buy a house in Detroit on your credit card. Whether you're an investor or you just need a place to call your own don't miss this window of opportunity to start a business in property rentals or become a first-time buyer.
Property is always the wisest investment; no-one can steal it from you; if it is vandalised the insurance will cover the loss; you can live in it yourself and enjoy it or you can let it and live on the income.
Money left sitting in the bank is earning zilch interest and is being constantly devalued; stocks and shares never meet up to initial expectations and insurance plans and pension schemes hardly ever reach their projected target. I have just had an insurance plan mature after twenty-five years. I remember the salesman's exact words when I first purchased it: "You'll have enough spare cash from this plan to pay off your mortgage and go on a world cruise too." In reality, it actually paid out several hundred pounds LESS than promised!
The only other options are to put your hard-earned money under the mattress, invest in stocks and shares, share it with friends and family or spend it.
Purchasing a foreclosure means you'll be able to call the shots and negotiate a good deal with a building society - they don't concern themselves with bricks but just want to get their cash back so it can be borrowed again. This means you can easily find a below market property and snap up a bargain. Many repossessed houses are in reasonable condition even though they may be priced considerably lower than similar properties in the same road.
As with everything, you should draw up a plan of action and consider all the possibilities in order to make an informed decision. A house purchase is probably going to be the biggest financial commitment you'll ever make so it's little wonder first-time purchasers are wary of taking their first step on the ladder in today's climate of spiralling prices.
There will never be a better time to buy. Nowadays, the prospective buyer has far more choice and information at their disposal when it comes to real estate investment and related finance and if property prices really have hit rock bottom then the only way is up!
The Keys to Your Future
You can Run a Property Business from Home
Making Profits from Property (UK)
Making Money in Real Estate (USA)
© 2015 Stella Kaye