Believe it or not, 8 in 10 Americans believe that purchasing a home is still a good idea, even in the face of the economic challenges facing the housing market. According to the 2010 National Housing Pulse Survey, which is a report sent out by the National Association of Realtors. The survey takes a look at how finding housing affects people. Nearly 80% of respondents reported that job layoffs and unemployment are huge concerns that they feel is barring them from homeownership.
Foreclosures and REOs are locked down, and banks often won’t lend to individuals such as this. Regardless, 68% of those polled believes that his is a great time to purchase a home. In 2008, only 66% believed this to be true. People recognize that low home prices and mortgage rates make a steal, and nearly one-fourth of people who are renting said they would consider buying a home now.
As investors, these lower home prices has changed the perception of our inventory favorably. Yet, only 2 in 10 renters responding felt they had a large enough down payment to cover the down payment and closing costs. Would’t a lease option be an ideal situation here? By providing a “homeowner in training” an option would provide them with a timeframe to build up this important cash reserve.
Another obstacle facing would-be homeowners is a lack of confidence that they would be approved for a loan. The beauty of being an investor is that we can be our own banks and create our own loan standards…we offer options to people who have few choices.
The market is ripe with opportunity for those who know how to capitalize on these changing trends. Have you learned how to take advantage of these ideas yet? Anyone can do this, you simply have to have the right education. There are still a handful of seats remaining for the REI Rainmaker Retreat, where Steve Zehala, Eddie Speed, Walter Wofford, and myself will be showing you how to cash in, right here in this market. The theme for the event is “Alternative Financing: Finding What Works Today”, and we’ll cover sandwich options, creative financing, notes, seller financing, lease options, wrap mortgages, and more. All the tools you need to prepare yourself for the alternative financing boom will be at your fingertips.
I like to reward action-takers. And by making it to the end of the article, I know you’re someone who cares about their education. Tickets for the event are selling for $297, and I’d like to extend you a $100 discount to encourage you on your path to knowledge. Visit http://www.reirainmaker.com and add a ticket to the shopping cart. Enter this code to get your $100 discount: RRFB197.
Don’t delay! As of this morning, two seats remained. TWO. The size of our room is limiting how many students we can accept, so act now.