Is there any good news in Real Estate

With all that is going on in the world and in the markets today, my Dad called me yesterday to ask if anything is selling, is there any good news?  He has property in Michigan and Florida and needless to say, the present market where he is isn't pretty.  However, there is good news.  Interest rates are still at record lows, running between 4.5% and 5%.  Inventories are still good and there are plenty of good deals out there for the person that is looking to move up or to invest.  Downsizing is not a great idea in this market unless you absolutely have to.  If that's the case, contact me asap.  I have some suggestions that may help.   

From an investment standpoint, with all the people that have had the misfortune to lose their homes in recent years moving in to the rental market plus financing tightening up some, there is a shortage of rental property and rental rates are high.  I was with an investor over the weekend looking at some homes that he would have under 50K invested in even after repairs and he expected to get $700 to $800 per month in rent.  They presently have 21 properties and they are ALL rented.  Think about those numbers.  Less than 50K invested and getting an average of $750 per month.  That's $9,000 per year income.  And that doesn't even include the tax advantages with depreciation, etc.  How many of us have gotten 9K in income from a 50K investment in one year any time in the past 10 years.  I'll go out on a limb and say not many.  How many of us have lost 9K in the past few weeks on a 50K investment in the stock market or a 401K.  Let's not think about that.  It's too depressing.   

The point is, there are some great opportunities in real estate out there, especially if you have cash to invest.  If not, I have investor contacts with money to invest.  If you're interested and in the Indianapolis area, contact me and we'll set up a time to get together and discuss your particular situation over lunch.  I'll even buy.  See, you're already making money!

By the way, get market updates and trends as well as find homes for sale along with a ton of other valuable information on my website at http://www.mybestbuy.org/. 

Enjoy the rest of the summer.  There's not much left.