YES! With the strong real estate recovery, many think the opportunity for investing in real estate is over. But while hedge funds may have backed off, private investors are still pouring money into the market.
Core Logic reports that 37.4% of 2013 sales nationally were cash transactions. In Florida, our cash sales were a whopping 54%. Cash sale account for most REO, short sale and condo purchases. Investors are putting their cash into real estate because they can get a good rate of return not found with banks.
The Chinese are investing here also, and have expanded their footprint across the USA. Their top ten cities of choice are: New York, Los Angeles, Detroit, Houston, Chicago, Las Vegas, Atlanta, San Diego and Memphis. (How did they miss our wonderful Jacksonville?)
Interest rates have hovered around 4.5% and have not slowed housing sales at all. It is possible to finance an investment purchase with 20-25% down, but cash may be required for bank properties needing a lot of work or condos not on a “bank approved” list (two top places to find bargains).
I love real estate and invest in it my myself! If you are considering an investment purchase, please give me a call at (904) 386-9816.