How To Cash In On The Burgeoning Rental Market
There’s no doubt it’s been a tough ride for the property market the last few years. Everyday we are bombarded with news of house prices plummeting, and foreclosures skyrocketing. With the Global economy in such dire straits, the real estate market has not escaped unscathed…so where do we go from here?
Well, there is a glimmer of hope where real estate is concerned…the rental market. Where once the rental market was relatively slow moving, providing a stopgap for those who had yet to climb on the property ladder, the recent economic circumstances have created an in-demand market with rental prices on the rise. The upturn is due in part to the influx of foreclosures, turning previous homeowners into renters. But there is also a widespread concern among prospective homeowners and investors that the property market will plummet even further. The worry of job loss and bad debt has created a sense of reluctance among prospective buyers, leaving the market open for strategic investment. In fact, if you are thinking about buying a rental property as an investment, now could be one of the best times to do it. The ability to secure an investment property while other buyers are sitting on the sidelines is a very compelling opportunity.
Why You Should Buy Now
There are several reasons now is a great time to purchase an investment property. Interest rates are lower than they have been in the last 40 years. If that’s not reason enough, homes in many areas of the country are very cheap and you are likely to secure high quality homes for much less than you previously could. Further to that the rental demand has rising across the board meaning landlords are able to charge more than they previously could, and that rental income will make your investment sustainable. According to the National Association of Realtors, it is now estimated that the average investor today plans to hold their investment for a minimum of ten years, so a steady rental income will ensure your investment is a good one until the market bounces back.
If you are in a position to hold an investment property for that long, you are far more likely to see return profit, especially if you’re financing the purchase. There are, however, a few caveats: financing a property is much more difficult than it once was and you are likely to face some tough vetting. You will need to have at least 20-25% to put down and financial partners will need to be satisfied that you can cover at least six month of the mortgage, tax, and insurance. If you have the ability to hold the property for the duration of this tough economic period, you are already in good stead. Read the rest of this entry »
Spectrum Enterprises Launch New Website and Mobile App!
After a major overhaul, Spectrum Enterprises launch their brand new website and mobile app! Packed with the latest technology and developed with the user in mind, their Internet home is live and online now. Visit http://www.spectrum-realestate.net to get plugged in and find your perfect property!
The Maryland and Washington real estate markets are about to get a whole lot more productive! It’s been a long time coming, but well worth the wait… Spectrum Enterprises launch a professional, responsive, and forward-thinking website to match their high-quality service! For several years Spectrum Enterprises have been leading the Maryland and Washington real estate markets with their innovative approach to buying, selling, investment, wealth and property management. Their boutique 360° model sets them apart from the competition, and now we’ve got a fully featured website to match their business model.
Their new website is live and online now, and it’s loaded with the latest technology to take Spectrum Enterprises to the next level! The newly designed interactive website features an online mortgage calculator, customizable property search, payment gateway for tenants and property owners, a knowledge base including video tutorials for customers to learn and understand the real estate market, and of course information on the comprehensive range of services they offer their clients.
Directors Bert Daniel and Alethea King comment on the new site saying, “We are so excited about this! It is a great pleasure to have a new website that matches our forward-thinking approach and that can keep up with the needs of our customers as we grow and expand. We’ve really taken stock of what’s necessary to create a strong visible online presence and this new website will ensure we stay current and competitive.”
To coincide with the launch of the website, Spectrum Enterprises are also launching the Spectrum Mobile app! The location-based GPS search is perfect for managing your property search from the palm of your hand. The app works with most smartphones including iPhone, Android, Blackberry, Palm, and Windows phones and is a must-have to ensure you never miss that hot property again!
Both the website and the mobile app were created to make your web browsing and your real estate experience fast, easy, intuitive, and hassle-free. So be sure to check out Spectrum Enterprises new online home, it’s their very own online open house! Visitors welcome anytime.
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Our Corporate Relocation Team Will Make Your Move A Breeze!
Are you moving to Washington, Baltimore or the surrounding areas? Feeling overwhelmed and not sure where to start? The Spectrum Enterprises Corporate Relocation Team can help! Our experienced consultants will take the time to find out what’s important to you and help you find that perfect property. Not only that but our concierge service will help you find everything you might need. We specialize in helping families, businesspeople, athletes, and other corporate clients to settle into their new surroundings.
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