By Scot Campbell Source: National Assn of Realtors
On February 27, 2012 Warran Buffet, CEO of Berkshire Hathaway, said that buying single-family homes is such a great investment right now, if it were practical, he’d buy a couple hundred thousand of them. Given how low rates are for a 30-year fixed-rate mortgages (3.95 percent, according to the Freddie Mac Mortgage Index), Buffett told CNBC’s Becky Quick that homes, held over the long term, provide a better investment than stocks. If you factor in that prices in some areas are at a 10-year low and inventory levels are high, the conditions are ideal for buying. Here is a link to the story: http://speakingofrealestate.blogs.realtor.org/2012/02/28/warren-buffett-says-hed-buy-a-couple-hundred-thousand-homes/
According to Dataquick, Orange County home payments adjusted for inflation are down 64% from the 2007 peak. And, in many neighborhoods the rent payment on a home is equal to or more than the monthly payments for owning.
Absentee buyers – mostly investors (and some second-home purchasers) – bought a record 29.7 percent of the Southland homes sold in February 2012.
Investors are taking the advice of Mr. Buffet by the thousands here in Southern California. If you are interested in learning how to buy rental homes in Huntington Beach and other areas of Orange County, we can show you how to do it!
For questions about buying and selling real estate in Orange County, contact Scot Campbell. He is the President of The Scot Campbell TEAM at Coldwell Banker-Campbell Realtors in Huntington Beach, CA. He has been a licensed broker for over 21 years and has brokered over 1000 homes and just about every type of transaction imaginable. Read his profile and client reviews at www.ScotCampbell.com He can be reached at 714-960-0700 at the office, 714-336-0394 on his mobile number or via email at Scot.Campbell@ColdwellBanker.com
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