Indo-Canadian Voice Realty - Feb 22 2020

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Saturday, Feb 22, 2020

Volume 29 Number 8

Phone: 604-502-6100

Fax: 604-501-6111 Email: voicerealtyads@gmail.com

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It’s a Better Time to Buy Than 10 Years Ago A strong economy, low unemployment, low mortgage rates, and alluring mortgage rates are making it a great time to buy a home, according to a newly released report from LendingTree, an online financial services marketplace. The amount of income that buyers spent on their mortgage payments also dropped from 2010 through 2019, despite higher home prices. “If you are in a point in your life where you’re considering buying a home today, it’s a better time to buy than 10 years ago,� Tendayi Kapfidze, LendingTree’s chief economist, told realtor.comŽ. “If you can get a mortgage, you’re getting much

lower interest rates, and it enables you to afford more. But that also means that you’re competing with more buyers, who are bidding up the prices.� Indeed, median sales prices jumped 53.5% between early 2012 and summer 2019, according to realtor.comŽ. But a decrease in average mortgage rates—by more than a percentage point from the start of the decade—is helping to offset some of that uptick. Mortgage rates have dropped from 5.09% to 3.74% during that time period. That drop could save borrowers hundreds of dollars a year to tens of thousands over the life of the loan,

Real Estate ‘Micro Investing’ Could Create New Crop of Investors Real estate investing may still feel out of reach to many consumers, but a new trend growing from startups is fostering “micro-investingâ€? to help a new wave of investors jump in—sometimes for as little as $5. “The best portfolios are diversified, and real estate performs very uniquely, in a way that is uncorrelated to the stock market and bonds ‌ We want to offer the same asset at a lower price point,â€? Janine Yorio, founder and CEO of Compound, a real estate micro-investment startup offering an app that allows micro-investors to purchase shares of properties the company hopes to sell at a profit for investors. Following a model that is similar to real estate investment trusts, micro-investing companies offer investors the chance to become part owners of a property. “REITs are just like owning stock, subject to stock market volatility and other unrelated factors to the actual performance of a property,â€? Darren Powderly,

co-founder of CrowdStreet Inc., a microinvestment company that allows investors to buy shares of commercial real estate nationwide. “So in addition to REITs, savvy individual investors add private real estate to their portfolios for greater diversification and returns.� The startup Compound says it intends to raise $10 billion a year to purchase properties and make them available as micro-investments. To date, the company has raised $2 million. Compound currently allows people to invest in a share of a luxury apartment in Miami Beach’s “Billionaire Bunker� island for $260. After three to five years, Compound will sell the properties and then distribute the profits to the investors. “We’re looking to give people access to properties they would want to own for themselves and are proud to say they own a part of—but that also makes a great long-term investment,� Yorio told Yahoo Finance.

realtor.comŽ reports. Since the Great Recession, borrowers are being more responsible too, Kapfidze says. They’re “much healthier financially than they were 10 years ago,� Kapfidze says. “One reason is because

of low mortgage rates. If you refinance, [you can] reduce your monthly mortgage payments.� Homeowners are also sitting on more equity. In 2012, nationwide equity reached a low of $8.2 trillion. In 2019, it grew to about $18.7 trillion.

Manufacturers Of Quality Cabinetry “Celebrating 30 years in Business� Sohan Singh Bhogal

Single Family Homes Multi Family Projects Hi-rise Apartments

Ph: (604) 597-0364 • Fax: (604) 597-2638

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Buying or Selling... Call for all your real estate need and a FREE EVALUATION of your property • RESIDENTIAL • COMMERCIAL • INVESTMENT • LAND ASSEMBLY • FARM LAND • TOWN HOUSE • CONDOMINIUMS • WAREHOUSE • APARTMENTS SEARCH. FINANCE. BUY.

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