I wrote the following article in October of 2011. I wish people would have listened. Now that we have arrived into 2013, prices have gone up over 20% in the last year alone. Multiple offers are very common and prices continue to climb. Don’t miss out in 2013!!
The sky is falling, the sky is falling but real estate prices are starting to go up. I know that the bears are out on Wall Street and the news media keeps telling us that the double dip is around the corner but did I mention that real estate investors are coming out in droves. Bleieve it or not there are several cities in California when multiple offers have become the norm rather than the exception. Cash deals are showing up all over the place and most of the buyers are using their new purchases for rental income. It seems like the lower end homes that are selling for less than $300,000 are the main focus for these investors. Rents are averaging around $2,000 for a clean 3 bedroom 1,800 square foot home in most Northern California cities. Our office is dealing with many investors who rather collect rents than to wait for a dividend check ever month. If you have some extra cash lying around then now might be a great time to invest in a home that will give you a steady income for a long time