Anyone thinking about buying a home should read below what a business, whose business is to buy homes, says. Great deals will not last forever, so if you have thought about buying, this is the time to make a decision to move forward.
I read an article today from Bloomberg with a story line about Blackstone Group, a mega hedge fund that is buying up home and putting them into rental service to then sell when values rise again. These guys alone have spent $1.5billion on 10,000 this year. They are buying at a rate of $100 million houses per week.
Their Head of Real Estate said that the opportunity for their hedge fund to buy houses and get them at discounts will last less than 2 to 3 years. Low mortgage rates and prices at 40% off peak values have buyers buying like a rush at Christmas for the toy of the year. Many wait for the right home only to find someone else got there before they did.
Looking to buy whether an investment home or primary residence then let us help.