Real Estate Investing In California Today
Why California you ask? Why now? California is used to with this existing state of recession. We have gone through our fair share of real estate booms. It seems we follow a 10 year cycle and every 10 years we encounter foreclosures through the roof. Before our current real estate situation, investors were purchasing homes in high-class neighborhoods in hopes to sell and make a large profit upon completion of the construction. However, those sales were never made because nobody came to buy. Now all these houses lie empty.
If you are thinking about retiring some day to California, you should seriously consider real estate investing in California today. You can purchase a piece of property or a home that can be used as a vacation property until it is time for you to retire. As you will need a place to live in California when you retire, now is the perfect time to buy property.
Next to California, Florida is second in the nation in foreclosures. This means that you have a choice of what you want in this sunny state when it comes to real estate investing. You can find condominiums as well as single family homes for a fraction of what they were listed at a few years ago. If you find a foreclosure, you can expect to knock off at least 5-10 percent off of the listed price. There are simply way too many more sellers than buyers in California, which makes it a great opportunity for anyone with money to invest in real estate.
Another reason to invest in California real estate today is the low mortgage interest rates. The mortgage rates are decreasing faster than they have been in 40 years. The Federal Reserve has dropped them repeatedly over the past severa months in an effort to fuel the economy. Expect them to stay the same for the next few months, at least until after the election process.
Whether you are looking for beachfront property or property inland, you can find it in California. California is a fantastically sunny and suitable state for retirement, but is very expensive in which to live. If you are looking for retirement property, Florida may be a better choice.
If you purchase your California real estate investment today, you can not only be secured of a place in which to retire when you finally don't have to work anymore, but also of a vacation home. You can actually use your investment to save you money when you vacation in sunny California. You can also rent out the property to friends and relatives so that they have a place to stay when they decide to visit this state.
Real estate investing in California today is the smartest move you will ever make if you are planning on retiring there. Take advantage of the low interest rates and great property deals in California today.
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