Right now is a GREAT time to start investing in land (and in any real estate for that matter)
No matter what real estate industry you are following, participating or dominating, right how is the best time to get started.
Why is now the perfect time to invest?
Well, it’s very simple. Real estate prices have gone down for three years – since 2006, basically. At the end of 2006, real estate prices peaked, and since then, real estate prices have gone down.
In about mid-2009, real estate prices for most of the market, especially for the lower priced market, reached the bottom. (and for commercial and multi-family in many markets that low is still yet to come).
We’re also experiencing a severe overcorrection of the market.
Everyone you talk to says it is absolutely ridiculous where prices are going right now.
People are currently buying properties, land and houses in many areas of the country, sight unseen for prices that were unthinkable just a few years ago.
But we all know that this overcorrection cannot last forever. As a result – we’re seeing it already – there is a dramatic increase in competition going on in some market segments – particularly the lower priced properties (houses and land).
But what does this mean for us?
This means that right now, we are in the perfect position for buying, because prices are at the lowest point they have been in decades.
At the current price levels in the housing area it is only a matter of time until (a few months) most of the excess capacity in affordable homes is absorbed (meaning sold). That means that builders will HAVE to come back and start building affordable houses again. And when that happens, (we are very, very close in many markets then land prices will jump up again.
Wouldn’t it be nice to be able to go in and buy land properties right now for pennies on the dollar and be able to sell it for many times what we bought them for just a little later?
At the same time, the media has just started to switch gears. The media just announced that we’re at the end of the recession. More and more positive signs are showing up. Ford Motor Company just announced their first operative profit since 2005. This gives people confidence that they can again invest in something that is good for them for the future.
Therefore, I can’t imagine that there will be any better time to get into Real Estate investing than right now, because all the starts are aligned for you to succeed.
