COVID-19 Real Estate Investments
Although people are quick to compare the 2008 global financial crisis – that originated in the property market – to the current COVID-19 downturn, experts have come to the consensus that the housing market will not be impacted the same way. In this case, short-term pain means undervalued assets, which in turn will produce long-term gains. So then, is COVID-19 a great opportunity to buy an investment property? Absolutely. Now is the time to invest. However, in order to do so successfully, one will need a well thought out plan, critical thinking skills, a healthy degree of liquidity, and a decent comprehension of the highest return market.
Global markets have been thrown into turmoil by the COVID-19 pandemic, leaving all of us questioning our investments during these unprecedented times. However, according to financial experts, it’s safe to say the property market has remained strong and looks promising for the near future. The reported spike in average housing price is in fact good news for investors, and real estate continues to stand as the wisest investment for Americans, as opposed to stocks, savings accounts and gold.
In attempts to stimulate global economies, interest rates have lowered – which means the cost of borrowing has become significantly cheaper, and as a result makes mortgages more affordable. While the world adjusts to living with the pandemic with uncertainty in the air, the aggressive, savvy buyer will prey on the uncertainty.
it seems as if now is actually may now be the perfect time to buy and sell. For sellers, the market is high when compared to the last seven years, however, interest rates are at an all-time low for buyers, which equates to big savings.
Prior to the COVID-19 outbreak, South Florida was considered to be especially appealing for reasons such as state taxes and leisurely lifestyle.
Fortunately, the impact of the pandemic in South Florida hasn’t been felt as strongly as other parts of the US. Potential homebuyers from major, densely populated metropolitan cities seem more ready than ever to make the jump from grey, wet, bone-chilling weather to the sunny Florida beaches. It’s no surprise that after being forced to spend so much time at home, people are now placing greater
importance on where they live.
Real estate experts also predict an especially busy fall & winter season in South Florida due to the fact there will be a decrease in international travel for Americans, and because after months of being pent-up and confined to their homes, people are feeling the need for a change, such as a second home for a break from the brutal winters. Once restrictions are lifted, South Florida is bound to see an extreme increase in consumer spending. This flow in spending and rebound in the stock market is anticipated to stimulate a restoration in the housing market.
Recognized as a memorable and highly successful real estate agent, Tammy Hernandez will tenaciously work to get you everything on your wish list, at your price-point. She will be able to best advise and assist you in navigating the property market – in real estate sales, residential, commercial and rentals. Whether you are looking for particular information on properties, or a consultation to discuss the current market, Tammy Hernandez Realty strives to give clients the most accurate and efficient information and insight in order to help you make the right deal.