Low Prices Draw Investors Back to Market

Sales on Charleston's barrier islands are increasing as each month passes.  The primary reason is that real estate investors are moving back into the market to take advantage of some of the incredible deals that come about as a result of short-sales and bank owned properties.

According to a recent Move.com survey, 12.1 percent of home buyers today plan to buy a home as an investment property, compared to 5.6 percent in March 2009. The survey found that 15.8 percent of those interested in investment property were men and 8.1 percent were women and 52.6 percent of the investment buyers were between ages 35 to 49.

Of the 25.3 percent of buyers who are focusing on foreclosure properties, 42 percent regard the purchase they are considering an investment and don’t plan to live in the property themselves; 13.2 percent plan to rent out the property; 11.3 percent are going to fix up the property and resell it; and 17.4 percent plan to house a family member until the property can be sold profitably.

Buyers of investment and personal property say they are motivated by these factors:

• Prices are as low as they will go, 23.6 percent

Foreclosure prices are a bargain, 18.7 percent

Great selection of homes for sale in their target community, 21.2 percent

Concerned interest rates will rise, 14.2 percent

Comments

[Property]

Nice posting ..........it seems investors are in hurry to buy island

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