Remember the headlines-SKY IS FALLING, Condo market is going to crash and party is over for condo investors-FALSE, NOT TRUE because the reality is many condo investors are generating stronger returns than ever in condo market. Here are the three reasons:
1. THE MARKET IS SLOWER----Seasoned investors know that the best time to buy real estate is NOT when there are lineups down the street, but rather when the headlines are telling you not to buy!!!
2. THE RENTAL MARKET IS STRONG---While condo sales have come down from their highs to level more in the historical norms, the rental market for condos is stronger than ever. While the sales are down, rentals are up, showing high demand.
3. LEVERAGE---Buying pre-construction condo allows you to leverage your money against as asset for typically 3-5 year without having to be a landlord. Price on new condo have risen about 8 percent per year for several years.