Philadelphia Real Estate Investors Next Two Years Prime Time
According to Inman News, the next two years is prime time for Investors of real estate. Here are the greatest hits of the article:
Philadelphia Real Estate Blog – Investment Property- Real estate investors are likely to be three times more active than other types of home-buyers in their local markets within the next two years, according to a national survey by Realtor.com operator Move Inc.
- A third of real estate investors are planning to buy in the next 24 months, compared to 8.6% of typical home-buyers— those planning to purchase a primary residence, vacation home or retirement property.
- Another 9.1% of typical home-buyers, and 28% of investors, plan to purchase between two and five years from now.
- 50% of these investors plan to hold their properties for five or more years while 11% expect to sell within a year of purchase.
- 56.5% of investors said the repair and maintenance of their property has not been difficult.
- 42% plan to spend self manage their investment properties and not hire a real estate management company.
- Of the remaining 68% – 29.5% said they would hire a contractor for repairs and 28% said they would purchase move-in-ready properties.
- About 65.7% don’t expect repair costs to surpass 20% of the property’s purchase price.
“This data suggests today’s climate is hot for investing and is attracting a lot of new people that don’t fit the stereotypical deal-driven flippers who buy and sell properties quickly,” – Steve Berkowitz, Move CEO, in a statement.
With debt service costs and vacancy rates at all time historic lows I can guarantee that I will pick up another multifamily investment property or two in the next two years.
To search Philadelphia Real Estate listings for condos, homes and apartments click here.
Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
www.CenterCityTeam.com
