forecloused-home

Lately it seems that every offer on homes that I have made on behalf of my clients have met with an offer already submitted or multiple offers being submitted. Move.com states that investors are really getting into the market with housing at such affordable prices.

According to a homeownership survey released Wednesday by Move.com, the number of consumers interested in investing in real estate has doubled since March 2009. The number of buyers planning to purchase a home as an investment property increased to 12.1 percent, compared to 5.6 percent just seven months ago.

Buyers purchasing foreclosures account for 25.3 percent of those interested in purchasing a home, the survey said. Of these buyers, 42 percent are purchasing properties as investments.

As investment properties, 13.2 percent of buyers intend to convert foreclosures into rentals, 11.3 percent will fix them up for resale, and 17.4 percent plan on using the property to house a family member until the home can be sold for a profit, according to the survey.

Through a combination of deeply discounted purchase prices and stable appreciation rates over the next five years, the Move.com survey found that foreclosure buyers are expecting to profit from their purchase.

Source:  Dsnews.com