Investor Interest Rising - this will help Daytona Beach Real Estate

According to a new Move, Inc., survey, interest in real estate as an investment has more than tripled in the past year. In fact, 17.2% of potential home buyers today say they plan to purchase a home in the near future as an investment compared to just 5.6% in March 2009.

RisMedia released details of the survey, which is good news for our Florida market. Some of the highlights are:

1. "The survey found just over ten percent (12.3%) of Americans planning to purchase investment property in the near future say they will pay for the property using 100% cash, and 12.8% will use cash for more than 50% of the purchase price and finance the rest. Almost half (49.2%) say they will buy the property with less than 50% cash down and finance the remainder. The U.S. Census Bureau reported that one in three U.S. homes are owned free and clear, without a mortgage.

2. "Nearly half of these potential real estate investors (46.5%) say they plan to own the property for six or more years, 16% expect to hold the property between two and five years, while 10.6% plan to own the property between six and 24 months.

3. "While interest by potential home buyers in purchasing a foreclosure to live in themselves has dropped 31.1% in the past five months to 26.5%, this newest Move survey found interest in purchasing a foreclosure as an investment is on the rise. In fact, interest in purchasing a foreclosure as an investment to fix it up and resell it rose from 11.3% in October 2009 to 16% in March 2010, a 42% increase.

4. "Approximately half (49%) of all homeowners would buy another home today if they could sell their current home for what they paid for it or more. This is especially true for homeowners ages 25 to 34 (68.2%)."

The good news is that a median income family today, $52,029, can afford approximately 70% of the homes for sale on the Move Network.

And we know Florida has plenty of homes in that 70%. Investors - don't wait while rates and prices start up. Contact me to day to discuss how you can find a home for sale that is a great bargain and will appreciate in our Daytona Beach market.

Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.ormondbeachscene.com