Thursday, January 13, 2011
Depending on who you talk to the real estate market for 2011 is either going to improve or continue to lag. In 2010 we saw interest rates at all time lows at 3%. One thing everyone agrees will happen is that the interest rates in 2011 will continue to increase. The soonest we can expect to recover from the real estate crumble is 2013.
With many people having their homes foreclosed some people are using this situation to their advantage. There are those that are in the mindset to invest in real estate while the interest rates are low and the houses/property are at a low as well. In other words buy at a low price, fix it up and sit on it for several years then sell when the market is up again. Not a bad plan in my opinion, but who has that kind of money to invest in commercial property or a house your not living in? You would definitely get into a landlord/tenant situation to help with this investment. I am not so sure that buying commercial real estate and getting into retail leasing wouldn't be more profitable.
We can always dream and have fun looking on the internet at homes and retail property we would love to own. If a suddenly come across an inheritance from a long lost great aunt, then I would seriously give real estate investment some thought. Until then, happy dreaming of my new investment idea.