Freeman Real Estate Ltd., Salesperson with over 30 years experience
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Category — About Me

My thoughts in brief…

I have sold many rental income properties with terrific returns even in what would be described as a poor economy.  As I write this post on January 28th, 2009, the interest rate being offered by the Sutton program has just been lowered again making buying a  lot of sense.  See my financing page for detailed description of how a $400, 000 house can carry for $1596 per month.

Keep in mind that no matter what the state of the nation or individual economics, there are always people who must sell and move.  They may have already purchsed a new home that is nearing being ready or they might be seniors looking to move down to a smaller property or families needing more space due to having additional or growing children. 

The inventory in the market is there and remember that even if real estate values go down somewhat with todays interest rates, a $400 000 mortgage at 1% less in interest over 5 years actually saves you $40 000 in payments. 

If you are considering an investment property, keep in mind that the present rental market is very lean at about 2% vacancy with higher quality, well located properties being even more rare.  A home with a basement or upper apartment can make a home significantly more affordable.  It can also provide someone with the chance to purchase a home in the city sooner than they thought they could.

January 28, 2009   3 Comments