It is an interesting time in our area and the country as a whole. As a real estate investment advisor in Reno, I have seen many fascinating changes that we may never see again in our lifetime. These changes have definitely been a boon for investors.
One of the things I have noticed as a real estate investment advisor in Reno is that investors often get a bad reputation for various reasons. However, during this economic time, investors are actually helping the real estate market.
For example, if a foreclosed house comes onto the market and has a Fannie Mae or Freddie Mac loan, you are not allowed to purchase that home from anywhere as an investor. They are looking for a primary or an owner occupied purchaser for that home, which seems like a good idea. However, by doing that they maybe prolonging how long the house stays on the market by cutting out a segment of buyers.
When you really look at it, investors are what are going to help to turn the economy around. They are going to help get us out of some of the doldrums that we are having with the housing market. In fact, in my opinion as a real estate investment advisor in Reno, if we did not have investors right now the housing market would be much worse.
Many investors are buying homes that many people cannot afford to buy because they need so much work. A person might be able to get a house that needs a lot of work for less expense but the owner then needs to come up with $40,000-$50,000 out of pocket just to make the house livable. Investors go in and buy those houses, rehab them and get them back on the market. Those houses that have been rehabbed are attracting more buyers, more quickly. Investors are also buying properties and turning them into rentals. They are offering some great properties out there for people that are looking for rental places.
As a real estate investment advisor in Reno, I see the value of what investors are doing and want make sure other people see the value too.
Your Savvy Real Estate Investment Advisor,
Greg Hughes
Serving the Greater Reno, Sparks, Carson City, Fallon, Fernley & Elko real estate markets
