In the aftermath of the initial outbreak of COVID-19 and the second wave that we are dealing with now (much earlier than many expected), the stock market, investing, the economy and general public confidence are either very low or very volatile. One of the few shining lights in all of this is the real estate market. Because of the historically low mortgage rates and the steadiness we’ve seen in the property values, people are either looking to buy their first home, or refinance their home or upgrade. Investors are leaving the stock market and heading towards more reliable investing, which right now is real estate (www.aminvali.com).
In the US and in Canada, there is an increase in activity. People are asking for in-person tours or virtual tours. Real estate agents and realtors are reporting busy schedules and increased interest. Investors are looking at solo investing opportunities like buying single family homes to fix and sell for a profit or they are reaching out to real estate investing groups (Amin Vali Consulting Group) for opportunities to invest in multi-family properties or large commercial real estate projects.
This all sounds too good to be true, in a way it is. The demand for real estate is high, however, supply has not changed and may not change for a while due to COVID-19 restrictions on construction sites and new construction plans. Additionally, the record low mortgage rates will not remain this low in the long run. What does this mean? This means that those who buy and invest now have opportunities that may not exist a few months from now. You might think a few months is nothing and it won’t do anything, just remember this pandemic has been going on for “just a few months.” A lot can happen in a few months, including a possible increase in mortgage rates. You could lose out on the dream home or an investment opportunity of a lifetime or simply put pay thousands extra because the rates went back up.
We’ve said this before, we’ll say it again, talk to a real estate agent about at least locking in a rate now, at least this way even if you have few options for property to choose from, at least you will be saving on interest on your mortgage loans.
There will be a buying frenzy in the real estate market one way or another, which side would you rather be on? The ones trying to buy or the ones with potentially great options to sell at a huge profit.
Civil Engineer, MBA, Real Estate Agent, Multi-Unit Construction Project Manager in California,
USA Phone : +1(310)925-3878
Web : http://www.aminvali.com
E-mail : firstname.lastname@example.org
Realtor in Zutila Inc.