Saturday, December 3, 2011

Investors Buying More Than Owner Occupied

Not sure exactly how I feel about it, but it's not a surprise that investors are increasing in the number of homes purchased over people that buy to live in them.

I feel that too many people are still mildly afraid about buying a home right now. Afraid of values, volatility, security. All good things. But, when the investor is picking up the majority of homes, that should certainly be telling the skittish 'would-be owner-occupied' buyers that they should go ahead and buy too!

The article that prompted it says one really good thing, well what I thought was important.

"Nonprofits and trade groups are stressing the importance of documenting any partnership with an investor to make sure these neighborhoods are maintained and begin recovery after the REO is sold. Most want documentation to ensure investors with poor management histories do not have access to bulk transactions."

So, if investors are buying, and we're trying to make sure they care about neighborhoods, I suppose that is better than just letting properties sit vacant. But, I'd certainly rather see home owners buying and enjoying the rewards of home ownership instead.

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