If you haven’t noticed lately, there are some great deals in real estate! Look around—it’s a buyer’s bonanza! If you’ve got the finances, real estate is a great investment—take advantage of the low rates.
Holly Yelton recently reported that lending is loosening up. She is doing quite a few loans on condos, FHA and VA loans, construction loans for both primary residence and second homes, and down payment assistance for first-time homebuyers (yes, though the Federal program has ended, there are ongoing programs for first-time homebuyers). So that’s good news for real estate buyers. Furthermore, there is a home fix loan, which is designed for a distressed property, such as a foreclosure.
The foreclosure properties out there are often great deals, but may need a little work. The home fix conventional loan product Holly mentioned is only available for a primary residence, but it is well-suited for buying a house that’s been foreclosed on, making a great deal even sweeter!