Real Estate Investment Opportunities on the North Fork, Long Island
April 25th, 2008 category: East End LI Foreclosures, Real Estate News
Matt Woolsey, at Forbes.com says in his article Market looks good for landlords , that more Americans are renting as foreclosures and risky lending roil the housing market.
Whether they’re waiting out the housing storm, or smack in the middle of it, an increasing number of Americans are choosing to rent, not own. And that’s good news for landlords and investors.
Foreclosures and risky lending have dogged the housing market. As lenders have tightened their standards, attractive mortgages have grown harder to come by. Yet rental fundamentals have remained strong, especially in the 10 areas that made our list of Best Markets for Landlords.
While many potential sellers have made the decision to hold off selling their properties for now, it would appear that the blossoming opportunity to provide housing for renters may well provide some relief for a tumultuous real estate environment.
Which then compels the question: when will the investors be returning to the market?
The presence of investors snapping up distressed properties is nothing new, so with an increasing number of people unable to purchase, the financial benefit of owning a rental is becoming apparent. While many of todays renters were buyers a few years ago, they are no longer able to qualify for properties.
A new homeowner of a few years ago is a capable renter today, and with increased numbers coming from this contingent, owning a rental property is making more financial long term sense than it may have a few short years ago, at least for me.
It really is true- ride out the cycles, and locate opportunity in real estate regardless of the market- for a long term investment, real estate offers an upside even in a downswing.
Call us if you are interested in an investment property on the North Fork of Long Island, and check out this great opportunity at 7720 Soundview Ave. in Southold, New York: 7720 Soundview Ave. V-Flyer
flower photo : copyright Maria Andersson
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