2020 will be a year for both buying and selling real estate. There are still some great deals in the market and interest rates are still very attractive!
If your buying any investment real estate this year you will need to be looking almost daily for the deals. As a licensed Realtor that focus's on income real estate I personally see almost all the on and off market real estate. It's about 2-4 hours a day looking at the available properties and breaking them done both income and cost wise.
With the low inventory issue you have to be on the newly listed homes everyday and get them under contract as soon as possible. That will continue to be an issue for the next 3-5 years, because of the no new medium house builds from 2006-2016.
That has caused a major shortage on affordable housing and the builders have to catch up with 10 years of no new builds.
This decade will continue to try and catch up with the inventory shortage......until then there will be pressure on pricing in the mid priced homes.
The REITS are also gobbling up the inventory and leasing the properties out. This is another reason why this decade will be totally different than the last. They pay cash for their properties and have very deep pockets.
We purchased 50+ properties this year for our clients and they where all purchased with cash and have no mortgages.
There are a lot of homes being purchased with cash and no mortgages. This is a positive effect on the real estate market. These are homes that will not be repossessed and that will keep the mid priced home prices steady and going higher.
There you have it buy mid priced homes and you will be a great portfolio in the right locations. Need to know the best locations in the Cleveland Metro area? Call me I'm Brett Icon Agent at EXP Realty 2 years in a row! 216-703-5740 118 transactions in 2019....
You can also text "income" 1-937-529-0745
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Thank you