This is the best place to find Real Estate in Modesto Ca
Are you looking to buy a home in the Modesto real estate market? Then let one of our knowledgeable and caring agents help you locate the best home for your needs. We have been matching people with their dream homes for decades, and want the chance to do the same for you. We pride ourselves on putting your needs and interests ahead of anything else. We want to work for you, as you would work for you. With the economy back on the rise, there has never been a better time to buy in the Modesto real estate market.
The housing market is reporting something different every month as sales slow down or pick up. The state that suffered the most in terms of foreclosures is the California. However, trends show that there are certain metropolitan cities that are making a slow recovery, and with changes every month who is sure that a slowdown in foreclosures is here to stay? Here are some things to remember when shopping for a home in the Modesto.
Why Buy in Modesto Ca?
Modesto Ca has been noted as one of the most popular places to live simply because it is bustling with activity. It is the 105th largest city in the US. Modesto was affected just as the rest of the countries cities with the foreclosures and drop in home values. The housing bubble caused the values to skyrocket in years past, but toward the end of 2007 we started feeling the pinch. As foreclosures began to rack up, sales were slowing down, and home values began dropping. The end result was many homeowners were now underwater on their mortgages, meaning that they now owe more than the home is worth.
The most affected cities in California were Merced, with a drop in home prices by more than 67%, and right behind it were the cities of Modesto, Salinas and Stockton. The challenge is with more than 23% of homeowners underwater on their mortgage, how will anyone get out from under their home loans unless they try to negotiate a short sale?
However in the last couple of years, the housing market has taken a huge turn. Not home values are on the rise again. And in a big way. The prices are still at a very affordable low, that first time home buyers, or real estate investors can once again start to make sound and affordable purchases. Whether you are looking at a short sale or not, there are some great buys out there.
Purchasing homes for sale in Modesto isn’t an awful thought essentially in light of the fact that it has one of the biggest inventories of homes accessible. This is still an incredible time to purchase, on the grounds that rates are still at a sixty year low. This is definitely this generations time to buy! 8 years ago, buying homes for sale in Modesto Ca would have meant that your mortgage for a mediocre home in a mediocre area would probably be the cap of what you can afford and leave you with very little left over for saving. Even condos for sale in Modesto Ca were outrageously expensive. This drove many people to look for apartments. And as the cycle goes, increasing the monthly rent on apartments.
But now the Modesto real estate market in booming. Home owners are now averaging an equity increase of $4,000-$5,000 per month. This is a very small but lucrative window to purchase real estate in Modesto Ca. Not very often is there time when you know that your home value will only be increasing. Usually real estate is an investment gamble. But right now, it is about as close to what gamblers would call a “sure thing” as you will ever get. And it is guaranteed to not last forever. So as the saying goes, “get it while it’s hot”.
This is a decent open door for the individuals who wish to put their resources into land to purchasing, or even the individuals who are looking to upgrade to a larger or newer home.
Modesto Real Estate Housing Market in 2015
The market is unpredictable at best, and with rates on the rise, it’s just another great reason to buy a home in Modesto ca. Those who have considered refinancing would also be wise to do so before rates go up. Equity is the biggest challenge in this case, but those who do have it, and wish to pay off revolving debt like credit cards should do so now. With Real Estate slowly making a recovery. There are options now to getting ones self out of debt, that there wasn’t just a few years ago. With the market keeping steady on it’s rise, you now refinance with little worry about whether or not you are taking your equity out and not see any more build.
What will you choose?
With many different areas in and around Modesto Ca, where will you choose to live? We have the inside scoop on where the good, bad, and ugly deals are. You might have an area in mind. If so great. If not, then let us show you the ups and downs of different areas and help you make an informed decision on where you want to live. As the saying goes, it’s “location location location”.
Call us today, and let’s schedule a time for you to meet our great team members, and find someone to take you on this journey with knowledge and care as you search for your dream home in the Modest area Real Estate market.
One of the biggest benefits of owning rental property is the prospect of earning passive income. This is a good reason why a large number of investors are choosing real estate as an investment avenue. Even so, there are lots more benefits that go beyond rental income. Outlined below are additional benefits linked to rental properties. So, continue reading to discover more.
1, Mortgage Reduction
As your tenants keep making monthly payments, your mortgage balance reduces particularly if you have an amortized loan that is fixed. As your mortgage balance reduces, you get more equity in your rental property at your tenant’s expense. The thought of someone else paying your bill can truly be exciting. There are plenty of investors who choose to buy rental properties as their retirement plan and let tenants settle the mortgage after which they sell the property. Others also use the rental income for their retirement.
2. Cash Flow
This is probably the main reason why most investors buy rental properties. Generally, tenants pay monthly lease that surpasses expenses and costs incurred to maintain the property. The balance will then be the cash flow for an investor. The majority of investors accumulate rent that they use to cater to their expenses while others also use it as retirement income. When there is sufficient cash flow, there is no longer need to have a job since the investments provide cash flow.
Properties tend to increase in value after a period of time. For instance, if you purchase a property worth $100,000 and make a down-payment of $10,000, then the cost of the mortgage is $90,000. After 5 years if your home is worth $160,000, you will have made a profit of $60,000 for the $10,000 investment which translates to a 600% ROI after a period of five years. You will be glad to learn that property appreciates in value after a period of time. So, this is a good reason for investing in real estate.
This is a term used by accounting professionals to allow investors to enjoy tax benefit as a result of owning property. Wear and tear caused by tenants on property causes the rental property to depreciate in value. However, the concept of amortization is popular used as a way of reducing taxable income each year. Consequently, rental property owners earn more rental income due to reduced taxes paid.
From the discussion, it is easy to understand that there are many benefits of owning rental property. Investing in real estate is an excellent way of increasing income. Furthermore, it gives you the opportunity to enjoy a tax break. With this form of investment, you can enjoy tax shelter, grow your money and enjoy increased earnings. Despite this, you need to put rules in place particularly if you would like to maximize on returns, you should come up with rules for the tenants to follow. This prevents instances where damage to property occurs due to the carelessness of tenants. Having some order means you will get an opportunity to enjoy the benefits mentioned above for a long period of time.
We also specialize in finding property for various needs. With the cost of land as low as it is, this is the best time to look into investing in land. Weather you are looking for an open lot to build a house on, or agriculture property for farming, we have a comprehensive list of available land in the greater Modesto area, ready for your viewing. So let one of our specialists help you build a portfolio of properties that fit your needs.
With the housing market dip, so went the price of open lots for building on. So if building your own custom home has ever been a dream of yours, then now is the time to look into it. Not only are the cost at an extreme low, but the availability of open lots are numerous. When the housing boom ended there were still a large amount of open lots that had plans for building. They were planned to be built on, so they are already zoned for housing. These properties have just been sitting there waiting for someone like you to come along and make an offer on. Today, you can buy a piece of land and build your dream custom home on it for around the same price that you average home went for right before the housing decline. So if you are looking for the right time to buy, now is it.
Through all the recession, the price of agriculture land did not fluctuate as much as the housing market did. However, the prices have dropped. The price per acre is down. Bringing your return on investment quicker than it used to be. To add, there has been a staggering amount of land taken for development, that never got built on. So this land has reverted back to Ag land. So there is more land to plant on than prior to the recession.
The cost of land is low right now and expected to increase over the next 10 years. There are more and more people looking to build homes on open land. Driving the price of open land back up for a nice future gain. Buy now to start your future nest egg investment.
Are you debating on purchasing a condo? We have a wide variety in our listings of very nice (some old and some new) condos in various areas of Modesto. Condos can be the perfect solution for many out there. Whether you are newly weds, who do not need a huge space for just the two of you, or a single person looking to invest their money instead of waste it in rent, we can help put you in the right condo for your needs. Our staff of knowledgeable and courteous agents are ready to start your search with you.
Why Buy A Condo?
As mentioned above, there are various reason why a condo might be the right purchase for you instead of a house. You have to consider the differences between the two, and decide what is right for you.
Condos are generally smaller than houses. Some people do not want a huge space to try and manage, keep clean, and do the upkeep on. Usually you do not have a yard to have to maintain either. The property management is in charge of that. Leaving your weekends open for your hobbies or other interests.
You can generally find a wide variety of condos for much less than a full sized home goes for. So if you feel that you are on a shoe string budget, and you can not afford the mortgage of a 4 bedroom 3 bath house, then you could look at purchasing a condo. The mortgage on your average condo is typically about the same monthly cost as rent on a 2 bedroom apartment. SO if that is the case, then why throw money away in rent that you will never see again, when you put that money to work for you in a mortgage on a condo. And very likely building equity that you can gain when you decide to sell in the future. Condos equity does not increase as much or as fast as a full sized home, but it is still gaining value that you will regain someday. That beats paying on rent any day.
With the prices of condos being lower than a house, it is easier to afford purchasing a condo to turn around and rent out yourself. Now you have someone else paying your mortgage and you get to gain all of that cost of the condo in equity. This is a great way to set up your financial future for retirement.
If any of these things sound like they are attractive to you, and you are thinking of purchasing a condo, call us and let one of our agents show you all of the beautiful and available condos for sale in Modesto. There are many different condo complexes around town. Some you might now even know about. Let’s get started building a profile of choices for you today.