Brandi Brand is the Director of Sales for Breakwater Mortgage in Virginia.
Beach, Virginia Brandy and her husband Scott also restore and resell
Real Estate Investment in Southeast Virginia. The following interview
Here are some common questions real estate investors have right now:
As mortgage interest rates rise.
Q: What is the overall lifespan of the real estate and mortgage industry?
Virginia By the end of 2005 and leading into the first quarter of 2006?
A: The local market in Virginia has declined over the past six months.
Homes stay on the market longer. This means more time
Involved in real estate investors who want to sell.
Q: The real estate and mortgage markets are headed for a recession.
A: The market is still very strong, although activity has slowed down a bit. in
In Southeast Virginia, home sales fell roughly 3 percent
November 2005, which indicates a slight adjustment.
Q: Is it a buyer’s market right now?
A: Currently, the market is standardized. When it was a seller’s market,
Contracts are signed on houses and properties before anyone exists
The opportunity to fully consider the purchase. Now they have investors
The opportunity to pay for the necessary repairs and renovations
Most of them return from the property.
Q: Is it a good time to buy?
A: Yes. The market is settling in, and there are some great bargains to be had.
The real estate investor. There are always good deals available. An
The investor is looking to buy a property that is below market value, that is.
How to make a profit. Buying property with cosmetic issues;
Refurbishing and reselling is one strategy. Other good deals can be found
For Sale By Owner Real Estate.
Q: What makes the Virginia real estate market different?
A: In general, the Northeast market is more expensive than the price.
Southeast except Florida. Southeast Virginia Real
Property is more affordable, so investors come from the Northeast to buy
Q: What do lenders look for when they consider writing a loan?
For real estate investors?
A: A loan lender is looking for a strong work history and six.
After paying the down payment, the remaining assets will double the monthly payments
to close. For 100% financing, the applicant may be required to have a
680 credit score or higher. Lenders like to see a two-year term
Experience in renting properties if the real estate investor is trying
Buy multiple properties. A property that yields an average of a
It is a minimum of $200.00 per month return (for repairs and maintenance).
It is considered a good investment. For new investors, they will be 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 top places for real estate investment is near the military
Foundations. Southeast Virginia has many foundations. Soldiers on them
Theirs often prefer to live in Base Hong. Those with a family often choose
Rent to have more privacy or yard.
Q: What are the current trends in real estate mortgage financing?
A: Before the summer of 2005, many investors were choosing demand.
Loans Only or 2,3 or 5 Year Adjustable Rate Mortgages (ARMS)
Minimum amount required. Most investors buy property at 5
years in mind. Housing prices continue to rise, however
Investors see interest rates on 30-year fixed mortgages as stronger.
They are increasing. Younger investors don’t seem too concerned about the increase.
Mortgage rates. Many experienced investors remember when the need is
Rates were 13-14%, but investors under thirty did not see the equivalent
Interest rates during adult life.
Q: What are the renovation trends for real estate investors?
A: Many investors are choosing to move from short-term to refinancing.
Long term loan tenure. Investors with rental properties are allowed
Locking in rates on 30-year fixed mortgages. Interested investors
They refinance to get money for restoration and resale
Another real estate investment. Overall, the remodeling is booming.