Elaine M Bry…, Home Buyer in West Hartford, CT

What is the "weather" at this time for real estate investing? Does it look like the buyer's market will change for sellers?

Asked by Elaine M Bryant, West Hartford, CT Wed Apr 11, 2012

I would like to invest in some properties in low income areas, is this wise for me to do right now?

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BEST ANSWER
Hi Elaine,

Naturally, Realtors will always say it's a good time to buy! But yes, it actually IS a good time since inventory remains quite high and with the spring market started, more and more properties will come on the market. That will continue to tip the scales in favor of buyers.

There's also the pent-up supply of sellers who have been holding off but are growing tired of waiting for the market to turn in their favor. There are lots of multi-family properties on the market and many of them are short sales...good deals are ripe for the picking.

Rents are continuing to hold strong as many people who went through short sales and foreclosures are now turning to rentals.

Bottom line: I don't see the buyer's market changing for sellers in the Greater Hartford CT area for at least a couple of years.

Please feel free to contact me through my website for assistance.

Lisa
Lisa Giller, MBA, Realtor
Gillette Real Estate
0 votes Thank Flag Link Thu Apr 12, 2012
Thank you, Miss/Mrs. Giller,
I am seeing that it truly is a buyer's market. I will be happy to look at your listing inventory.
Flag Sat Apr 14, 2012
Market has picked up considerably...lots of deposits but prices have not escalated
as yet but if properly priced, sold within 2-3 weeks.

Its still a good time to buy because the rates are so low..3 to 3 l/2%.
If you are selling and buying..sell low and buy low...interest rates low.
Call me for a free market anaysis or market value of your home ..
860-647-8000..no obligation.

anne
0 votes Thank Flag Link Sun Apr 15, 2012
Its a great time to purchase investment properties. Low iterest and forclosures. Its a win win.

Call me Im closing on one today.

Peter Plourde
William Raveis Real Estate
860-377-9185
http://www.PeterPlourdeRealty.com
0 votes Thank Flag Link Thu Apr 12, 2012
I will be happy to look at your inventory, Mr. Plourde.
Flag Sat Apr 14, 2012
Thank you, Mr. Plourde. I appreciate your affirmation about this season for buyers investing in real estate, presently.
Flag Sat Apr 14, 2012
Here at Keller Williams we call 2012 "The Year of the Investor'. I don't know about Connecticut but in New Jersey there is a fire sale on multi-family short sales. I would explore that idea with a local realtor if I were in your shoes. Rents are going up, prices are going down, interest rates are at an all time low. Wise? It's a no-brainer!
0 votes Thank Flag Link Thu Apr 12, 2012
The same is true, here in CT, Suzanne. There are many multi-family apartments, and fixers. Is it possible to buy a fixer house thats' priced for $29,900 and ask for $5k to $8k back to bring it to an habitable live-in conditon?
Flag Sat Apr 14, 2012
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