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  • Larry Anweiler

    Opportunities in Real Estate

    By Larry Anweiler, Full-Time Faculty and Ana Machuca, Full-Time Faculty 
    Published December 2013

    In today's economy, there are still opportunities in real estate, and in fact those opportunities are expected to increase, whether you are looking for a condominium, single-family home, or the purchase of a shopping center. As the economy continues to rebound, the demand is anticipated to grow. Why? Because much of the real estate that’s available is still priced at less than it was during t­­­he height of the market. The potential buyer sees the difference between the purchase price and the price at the height of the market as a solid potential gain, even if it is only in equity. One of the things that we’ve seen is the blossoming of the “fixer-upper” property. In cases where the “fixing” is basically paint paper and yard cleanup, the potential for gain could be as much as 300 percent. One way to potentially gain equity in today’s market (especially if you are handy) is through a purchase of a “fixer-upper.”

    Real Estate Today

    In many areas of the country, real estate is rebounding slowly; however, in the sunshine belt real estate is recovering much more quickly. Affordable housing nationwide existed during the 2006 timeframe when interest rates were low and credit was extremely easy. In fact, at that time, it was easy to purchase a house with what was called a “no doc” loan. This type of loan did not require verifications on income, job stability, and so on. Today the banks have tightened their requirements and full documentation is required. As a result, new home prices today are lower than we saw at the height of the market 5 years ago.  This is obviously a concern to those homebuyers who bought at the top of the market and held on to their homes during the bad times. While some products have been virtually eliminated, like the interest-only loan, standard products like the 30-year fixed loan, the 15-year fixed loan, and adjustable-rate products are still available. These products allow homebuyers to upgrade to newer neighborhoods that are still within their budget. 

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