How Much Is A 30-Year Fixed-Rate Mortgage Going For Real Estate Investors: Buy, Sell or Hold?

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Real Estate Investors: Buy, Sell or Hold?

Brandi Brand is the Director of Sales for Breakwater Mortgage in Virginia

Beach, Virginia. Brandi and her husband Scott also restore and resell

real estate investment in Southeast Virginia. The following interview

consists of common questions real estate investors have right now,

when mortgage rates appear to be rising.

Question: What is the general tenure of the real estate and mortgage industry in the

Virginia in late 2005 and into the first quarter of 2006?

A: The domestic market in Virginia has slowed over the past six months.

Houses stay on the market longer. This means there is more time

involved for real estate investors looking to sell.

Q: Are the real estate and mortgage markets going down?

then?

A: The market is still very strong despite the slight decline in activity. in

In Southeast Virginia, home sales fell by roughly 3% last year

November 2005, indicating a slight correction.

Q: Is it a buyer’s market now?

A: The market is leveling off right now. When it was a seller’s market,

contracts were signed for homes and properties before anyone had one

opportunity to fully consider the purchase. Now investors have

opportunity to price the necessary repairs and renovations to get

most return off-property.

Q: Is it a good time to buy?

A: Yes. The market is adjusting and there are great deals for

the real estate investor. There are always good deals to be found. Ann

an investor is looking to buy a property below market value, that is

how they earn Buying a property with cosmetic problems,

recovery and resale is one strategy. Other good deals can be found

with For sale by owner real estate.

Q: What makes the Virginia real estate market different from say

market in the northeast?

A: In general, the Northeast market is more expensive than

Southeast, except Florida. Southeastern Virginia for real

properties are more affordable, so investors are coming from the Northeast to buy

here.

Q: What do mortgage lenders look for when considering underwriting loans

for real estate investors?

A: A mortgage lender looks for a solid work history and six

times the monthly payments in residual assets after paying off money owed to

closure. For 100% funding the applicant may be required to have a

680 credit score or higher. Lenders ideally want to see two years

experience in rental properties if the real estate investor is trying to do so

buying multiple properties. On average, a property that carries a

return at least $200.00 per month (for maintenance and repairs).

considered a stable investment. The new investors will be the banks

tend to limit the investor to two properties in the first two years.

Q: What are the best real estate markets to invest in?

A: One of the highest real estate investment areas is near the military

bases. Southeast Virginia has a wealth of bases. Soldiers of theirs

they often prefer to live in base hoses. Those with families often choose

for rent to have more privacy or yard.

Q: What are the current trends in mortgage financing for real estate?

investors?

A: Before the summer of 2005, many investors chose interest

only loans or 2,3 or 5 year adjustable rate mortgages (ARMS) that

required little money. Most investors buy a property with 5

years in the mind. Home values ​​will continue to rise, but

investors see 30-year fixed loans as more solid, while interest rates

are on the rise. Young investors seem less concerned about the rise

mortgage rates. Many experienced investors remember when interest

rates were 13-14%, but investors under thirty have not seen comparables

interest rates during your adult life.

Q: What are the refinancing trends for real estate investors?

A: Many investors choose to refinance by switching from short-term

term mortgage to long term loan. Investors with rental properties will

to lock in rates with 30-year fixed loans. Investors who want

restoration and resale of properties will be refinanced to obtain money for

other real estate investment. In general, the refinancing boom has

funny.

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