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The current real estate market is ripe for investment opportunities, even with the foreclosure inventory falling and home prices rising. We are definitely on the path toward real estate market recovery with many key cities already seeing significant progress.
Below is a look at some pertinent real estate market related news.
Election Day and Interest Deductions
Both Obama and Romney have tried to avoid talking about the real estate market as much as possible, especially in the debates. However, both claim to have a ?plan? with minimal details being released on said plans. One such plan involves interest deductions. However, a closer look at who would actually?benefit from these interest deductions?uncovers that very few middle class citizens would truly reap the benefits. Why? It all comes down to itemized deductions.
A vast majority of Americans opt for the standard deduction as opposed to selecting the itemized deductions route. Since the interest deduction would only be taken advantage of by those using itemized deductions, then families making between $100,000 and $500,000 per year would actually be the one benefiting from the interest deductions plan?not struggling Americans.
Investing Opportunities Galore
In other news, real estate investing is taking off yet again. Although Florida currently has a struggling real estate market, experts predict that the state will soon see a rise in not only domestic investors but also?international investors. The same thing is happening throughout much of the country, especially in California where progress toward recovery is occurring quicker than anticipated.
The specific interest of the investor varies greatly depending upon the individual and his or her specialties and interest; however, many investors are?investing in college towns. While some investors are purchasing foreclosures and other distressed properties and renting them out to students, faculty, and staff at local colleges, others are purchasing homes below market value and flipping them for a profit.
Either way, real estate market investing is definitely a current trend.
Rise in Foreclosure Assistance Programs
Partly due to the bank settlement agreement, many states now have foreclosure assistance programs to help struggling homeowners stay in their homes. As a result, there are a number of?alternatives to foreclosure?that more people are becoming increasingly aware of, especially with many state-wide programs designed to provide foreclosure counseling for those facing the possibility of losing their homes. Everything from loan modifications to short sales are possible in the current real estate market and the increased access to foreclosure support and counseling helps struggling homeowners make educated decisions that could help them avoid foreclosure.
In conclusion, real estate market progress is underway, but make sure to pay careful attention to talks of interest deductions as a plan to help the middle class. If you are an investor then consider investing in college towns. If you are a struggling homeowner make sure to look into foreclosure counseling before making a decision on an alternative to foreclosure.
Source: http://www.wannanetwork.com/2012/10/29/real-estate-cafe-investing-foreclosures-and-more/
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