Current Opportunities For Property Buyers

December 13, 2007

   The next 18 months will be a particularly good time to buy real estate, according to Jim Wagner, an attorney specializing in real estate investments and retirement planning issues. He notes the following reasons:

Home construction starts are now at the lowest volume in the past 14 years. Foreclosures are on the rise, providing many good buying opportunities. Inventories of available homes are at a very high volume. And housing prices are declining in most markets. Also, he noted that mortgage interest rates remain at historically low levels, and could go a bit lower. Many banks now offer non-recourse loans.

He recommends the use of a self-directed retirement plan to generate capital for investing in real estate. "The ability to access IRA monies to purchase foreclosed homes or other properties, or to offer private loans when credit is tight, puts the self-directed IRA holder ahead of the game," Wagner said. Whether using IRA funds or financing properties with conventional mortgages, there are strong market factors that point to exceptional opportunities for today’s real estate buyers.

Posted in All Things San Diego, Local Business, Real Estate, Things of Interest