The interest rates remain low for mortgages and it looks as though it may stay that was for awhile. For two months now the 30-year fixed rate mortgage has been below 4 percent and the 15-year fixed-rate mortgage was down to 3.24 percent at the end of January.
These interest rates are just in time; as millions of baby boomers prepare to retire and many are predicted to enter the vacation home market. These buyers are purchasing second homes now while prices are low in anticipation of retirement.
Buying a second home in today’s market is a smart investment, especially if you are considering retirement in the foreseeable future. When purchasing a home for retirement make sure to carefully assess desired location and lifestyle. If you are active, Central Oregon the ideal outdoor playground for all ages and has 300+ days on sunshine per year. In addition Bend, Oregon has a variety of gated and golf communities perfect for a luxurious, leisurely lifestyle.
Category: Real Estate Investing
Need another reason to purchase real estate?
Apartment rents continued to rise. Nationally, rents rose 4.7% in 2011.
Rents are up 7% since hitting a low point in late 2009.
And if you’re in the market for an apartment in 2012, brace yourself: Occupancy will inch higher, and rents are expected to rise another 4.5% this year, according to MPF Research.
Consider purchasing a home, Mortgage Interest Rates Are Low Again and Real Estate Prices Are at a Low.
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Why now is a great time to Invest in Real Estate
We may say that this recent recession caused a real estate mess, however consider this, it also produced plenty of opportunities for those with the financial resources and means to buy real estate.
Mortgage Rates Are Low and are most likely to stay that way (under 5% for a 30-year fixed-rate) throughout the 2012 year.
Real Estate Prices Are Also Low; in many markets, including Central Oregon real estate is much more affordable than it was 5 years ago. Considering that housing is generally your biggest expense, you might want to consider relocating to an area where you can get a nice property for a reasonable price. Considering that Central Oregon has over 300 days of sunshine and is an outdoor enthusiast playground, it is a prime place to call home.
Real Estate is a Great Long-Term Investment
Regardless of the recent predicament; real estate is still a good, long-term investment. If you look back 30 years, real estate is still valued much higher than it was.
If you are thinking about purchasing a home in Central Oregon, it is important to put your trust in a trusted real estate agent who can help you in the ever changing dynamics of the real estate market. They often know when properties are about to go on the market and may have a lead on a short sale property that can be a great buy.
