Market seems to be changing again
In my investment market I am starting to see signs that the market is changing again. In the early part of 2009 if you had cash you could close on some very nice deals. Then the world changed with supply constraints and artificial demand looking to scoop up cheap homes.
As an investor I am happy to report that I believe the market is changing as I am starting to see inexpensive homes come on the market in greater numbers. I am also seeing small multi families (2-4 units) come on the market in great numbers. The final bit of good news is that small commercial buildings are being listed (5-20 units) at reasonable prices.
I have looked at several apartments that appear to be ok deals but they require 25%. The market in this space will turn when the bank holding the property chooses to finance the building at 10%. If they simply changed the required down from 25% to 10% they could move some properties. Hey they could be like the FHA and only require 3.5% down…
Good Investing
Comments (1)
They want to avoid some of the problems with the home RE market in this Comm RE market. A lot of the home market is still having problems because of the assistance available to the buyers making it like having nothing down at all. So they are keeping the down high in the comm area to make sure only those that truly can afford will be able to purchase.
Jim Wineinger, almost 16 years ago