It’s safe to say, we are all spending more time with our families during this pandemic. Together, we are watching the housing market appears to be struggling as we are approaching the third quarter of the year. Many would define this period of time as a recession as two consecutive quarters with negative growth. It really doesn’t seem like a good time to invest in a property, right? Let’s discuss in further details.
Investing in real estate always has an element of risks. It can be crucial to look at the basics of investing first and set the stage for the current real estate market. During a recession, the market turns into a buyers market. In a buyers market, supply exceeds demand. This gives purchasers an advantage over sellers in price negotiations. There has been reports of mortgages interest rates reaching a record low of 3%. Over time, buying into real estate will be one of the best decisions you’ve ever made.
If you are a Real Estate Investor and need further legal assistance, contact Martin Law Group. We our offering free consultations for the month July.