Stop us if you’ve heard this one before. Okay, don’t, because super successful investor Warren Buffett just exclaimed that he’d “load up” on single-family homes at distressed prices”
Now, another well-known millionaire and New York City real estate mogul, Donald Trump, is hitching his investment trailer to the distressed bandwagon. “The Donald” recently revealed his housing-related investment strategy on CNBC:
“Housing is one of the great investments right now. I tell people all the time when they come up to me, they say, ‘What should I do, Mr. Trump?’ I say go buy a house.”
Diana Olick, a real estate expert who contributes frequently to CNBC, among other industry outlets, reminds potential investors about the many benefits of investing in real estate, including, but not limited to:
- About 73 percent of homes sold in Jan. 2012 were less than $250,000
- 47 percent of those homes were distressed (e.g. foreclosure, short sale, etc.)
- FHA-backed loans allow for low down payments, low interest rates
- Timing the exact moment to “dive in” right now could be a mistake/non-issue
Olick predicts that the housing slump on a nationwide scale will likely slightly continue until the end of 2012; however, she points out that there are areas in which the market will begin to recover faster. And if you’re targeting one of those areas, and are planning to buy a home, you better act now before it’s too late.
In fact, waiting for the bottom to completely drop out, if it hasn’t already, could be a mistake. Especially if it means you save a little bit on the house, but miss out on all the other benefits such as low interest and insurance rates.
In other words, start your search today and act sooner rather than later to avoid missing out on these ideal buyer-friendly conditions. Foreclosure.com is free to search for seven days, as well as offers free email listing alerts that will notify you when new deals pop up in your neck of the woods.