Ron Isana was on the Today Show this morning talking about his new book, "How to Make a Fortune From the Biggest Bailout in U.S. History." His #1 piece of advice? To rethink real estate in 2010. Check out the segment here.Ron says, "2009 was a great rebound for Wall Street, but 2010 will be a rebound for Main Street." While we're still not out of the woods yet, he believes that the worse of the recession is behind us. In his opinion, the biggest opportunity is in Real Estate, which is producing "generational" opportunities. With the market at or finding its bottom this year, both homeowners and investors are offered the unique opportunity to buy at the market's lowest point.
And that lowest point is more than just price. There's also historically low interest rates that are enabling far greater buyer purchasing power. And don't forget about the Federal tax credit. The IRS is allowing a range of home buyers generous credits that can either be used as a portion of their down payment or to help offset the end of the year tax bill. The extension that was passed in November of '09 now allows both first time AND existing home owners to take advantage of the credit, while raising the income limitations. Truly historic times.
So if you're a renter, now is the time to consider buying your first home. If you're looking to upgrade, today's market is providing enough buyers to unload your current residence and generous incentives and opportunities to find a bigger house in a nicer area with better schools.
If you've ever thought about investing in real estate, you won't have a better time to get started for at least another 7-10 years. Both inside and outside of your retirement account, real estate is a broad and valuable asset class that can deliver strong cash flow AND long-term appreciation.
If real estate was a part of a New Year's resolution in any way, the time to to take action is now. It all starts with an email or phone call, so please don't hesitate to reach out and learn more.
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