‘Mortgage crisis may prompt Fed to cut rates’ read more was an interesting article about a nice benefit of the current crisis in the lending industry. Should the Fed follow this advise we will see lower rates for ‘a-paper’ buyers.
Yes, the current crisis in lending will have a major influence in the current market, however, if you are an investor or are looking for a ‘good deal’, now is a good time to jump in and buy. With first time home buyers not being able to buy and keeping on renting, investment property will do well the coming years with better CAP rates than seen over the last years. Also the current glut of REO (bank owned) property gives a great opportunity for the sophisticated buyer. Since the purchase of a REO is not without risks, it might not be the best buy for the first time homebuyer, however they do make great opportunities for investors or even contractors who are not afraid and can deal with the risks involved. Just contact us for some great opportunities in Sonoma County.
Mirjam