The book I recommend on the subject is above.
If you’re debating why you should be interested in investing in Boise area multi-units & apartment buildings when the prices of single family homes is so cheap, this article from moneywatch.com should help you out”
“…{a} nation of renters has emerged as more Americans rent by choice or due to unforeseen financial difficulties. And yet, renting is only less expensive than buying in four of the cities covered in the study, including New York City and San Francisco.” To read more, click the icon above.
People are CHOOSING to be renters instead of homeowners! The true fortunes are made in the down markets. We see rental units here in Eagle, Meridian, and Boise Idaho get tenants the day after they are made ready. The rental market is very tight and the “real” investors are playing ball.
In 76% of the top 50 U.S. cities, declining values have made it cheaper to buy a home at the median list price than to rent a two-bedroom home. Cities such as Miami, Las Vegas,Boise and Phoenix that have been flooded with foreclosures are now much cheaper places to buy, even with the cost of private mortgage insurance, homeowner association fees and property taxes.
Call us to discuss this or any subject in further detail @ 888-506-2234.
THE TIME TO BUY ANYTHING IS WHEN THERE IS “BLOOD IN THE STREET” – BUY RENTALS NOW!
There’s good news in the latest housing market forecast for 2011 from the National Association of Realtors (NAR). After dipping 4.8% last year, sales of existing homes are predicted to grow 7.9% this year, to 5.3 million. The gain for 2012 is forecast to be a little less, up 4.5%, to 5.53 million. The existing home median price went up 0.3% in 2010, a nice recovery from the 12.9% price drop of 2009. For 2011, the NAR sees it rising 0.5%, to $173,000, then another 2.4%, to $177,900, in 2012.
New home sales are forecast to come back more briskly, up 17.7% in 2011, following their 15.5% drop in 2010. The 2012 projection is for a strong 51.1% sales gain, to 565,000 homes. The median price for new homes, which gained 2.2% last year, should go up another 1.8% in 2011, to $224,700, then 1.9% in 2012, to $229,000. The NAR’s chief economist says this rebound in home sales does depend on an improvement in the jobs market. Affordability also matters and in Q4 of 2010 housing was the most affordable on record, according to NAR numbers going back to 1971. The NAR feels the current situation of low home prices along with low interest rates should continue.
Review of Last Week:
HELLO, 12,000!… Last week saw strong corporate earnings, more indications the economy is healing, and Ben Bernanke telling the National Press Club the Fed won’t be withdrawing its policy support anytime soon. The net result? The Dow shot up five days in a row, crossing the 12,000 threshold and staying there, trading near its highest levels since the middle of 2008. All three major indexes delivered impressive gains, with the S&P 500 enjoying its best January since 1997. Investors shrugged off worries the Egyptian protests might further de-stabilize the whole Mideast.
Corporate earnings are running way ahead of expectations and, even more encouraging, future earnings estimates are up. The week’s star performers included mammoth Exxon Mobil, drug biggie Pfizer, and video gamer Electronic Arts. The vast majority of companies reporting beat their Q4 earnings expectations, as retailers chimed in with better than expected monthly same store sales results for January.
Investors also liked the economic data. Q4 productivity was up 2.6%, proving that, yes, we ARE working harder. But we’re also being compensated for that extra effort, as personal income rose in December along with personal spending, which helps fire up the economy. But things aren’t overheating yet, since Core PCE Prices, the inflation number the Fed watches, was up just 0.7% the past year. ISM Manufacturing and Services indexes both showed strong economic growth. The January Employment Report showed a gain of just 36,000 jobs, but this was put to the unusually bad weather preventing people from working — several hundred thousand more than usual. Private sector payrolls were up 50,000, their 11th monthly gain in a row, which helped drop the unemployment rate to 9.0%.
For the week, the Dow ended UP 2.3%, at 12,092; the S&P 500 was UP 2.7%, to 1,311; and the Nasdaq shot UP 3.1%, ending at 2,769.
While stocks soared higher, bonds got hammered. Even the Egyptian unrest couldn’t ignite a flight to safety, as investors wanting to catch the rising wave of stock prices took their money out of bonds. The FNMA 4.0% bond we watch ended down 187 basis points for the week, closing at $97.22. In spite of this drop, news of an improving economy and low inflation kept mortgage rates at historically low levels. Freddie Mac’s weekly survey of conforming mortgages reported average fixed-rate mortgage rates pretty much unchanged.
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