Good evening and Happy Mother’s Day!! I hope all of you moms out there had a great day. Here is your weekly Hinesville/Ft Stewart residential real estate report for the week ending May 12, 2013. According to the Hinesville MLS there are 540 active residential listings in the Liberty and Long County area which is -1 from last week, of those;
52 are foreclosures which is -1 from last week
73 are builder properties which is -5 from last week
We have 128 pending sales in the area which is -1 from last week, of those;
35 are foreclosures -5
41 are builder properties +9
We had 5 closed transactions during the reporting period.
Today I answered a question for a service member overseas and I thought it would be important to share tonight as I have not really addressed this in a while. The question was, how much money do I need to have in order to invest in real estate? Well that question has many answers, banks usually will require a buyer to have 20 to 25% equity in a real estate investment *(this can vary widely) also known as lending on a 75 to 80% loan to value “LTV”. Once you have a relationship with a lender or an established track record, sometimes they will relax the rules and require less equity. You can also use your home for part of the equity, the risk there is that if you have problems and loose the investment, you lose your home as well. Once you have acquired a few investments, you could use the equity in those as well. The one constant in all real estate investing is to have cash reserves for that broken a/c, slab leak or extended vacancy. I hope this was useful, and if you have an interest in real estate investing message me and we can talk about it. Remember I can help you buy or sell real estate anywhere in the world, so give me a call today and let me show you the way home. Have a great week everyone!http://www.youtube.com/watch?v=mh9Cz7XSnDg