Some Recent Data: US household consumer debt.
Average credit card debt $15,863
Average mortgage debt $156,584
Average student loan debt $33,000
The National Association of Realtors and Forbes
reported that just recently the plans for home ownership have increased. In the buildup before the crash, homeownership reached close to 70%. It then declined to the low 60s and now is headed back to 65%. Apartment dwellers recently decided to shop for homes due to: high rents, low availability, low interest rates and the other benefits of home ownership – growth, tax benefits, etc.
The forecast for home prices is to rise 4.6% per year through 2018. The improved economy and slightly higher wages has resulted in aspirations for homeownership.
Where can investors find properties in a hot market?
Distressed sellers. Bank REO's. FSBO's
Wholesalers Rehabbers Bird dogs
Craigslist, etc. Code violations Mailings
Realtors Probate Doorknocking
Tax Deeds Attorneys CPAM
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A large group of investors was asked which strategies they used. They averaged four different methods to purchase properties.
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