Some in need of attention and sensational news headlines have come out in the last week warning of a ‘triple dip’ for the housing market. So is this likely to happen and what will this mean for real estate investing?
These predictions forecast a continued decline in a number of markets, with some not seeing a recovery for another 12 to 24 months. However, predictions from these same sources have already been busted. Just look at areas of South Florida like Miami which was assumed wouldn’t recover for another year or more. It is already set to break all previous sales volume records this year and home prices are rising too. With the rate of speed that things are improving here it is unlikely it will slow and even if it does it would take something incredibly drastic to see another big dip.
Then you have many markets in Arizona, Georgia, Nevada and Georgia which have still been sliding. If they haven’t really ever stopped then you can really call a ‘triple dip’. It has been more like on really long one. Still these markets are offering up great bargains for real estate investing, with many homes going for 60% less than a few years ago.
While the whole world may have felt the effects of the housing crisis, it is clear that now more than ever all real estate is local. Some markets are already rebounding and fueled by positivity and the demand for returns will continue to do so. Some may not have bounced back yet, but they will. Though one thing is clear, the whole country is now extremely appealing for real estate investing to everyone around the globe. Most of these investors are looking for long term investments and returns and are not nit picking over every dollar.
So perhaps if you are really concerned about short term fluctuations you simply need to adjust your real estate investing strategy and model to minimize your holding time and focus on marketing to the right buyers.
