The start of 2012 brings us into a New Year with what I see to be a great time to purchase a property.  Not joking around being the sales guy, the interest rates are right now hovering around 4%.  This year should bring out more of the bank foreclosure inventory.  I was told that the foreclosures were down about 25% in the Northern Kentucky area in 2011, and the expectations for 2012 is that thoughts 25% will be released this year and maybe even an increase from the "norm". 

So if you’re looking for a great deal on a house in Kentucky, this year will be the time to buy.  If your one of ones that believe in the end of the world predictions of 12/21/12 well the good news is you wouldn't need to pay your mortgage in full. Ha, anyway in planning for this year, it's on my agenda to purchase a good cash flow rental property.  Maybe a duplex or quad if I can find exactly what I want in the right neighborhood.  If not it will end up being a smaller single family house. 

So if your looking for a great deal on an invest property, a second home, first time buyer or any where in between this year is the time to purchase.  If you need to sell before buyer, well, that could be a bit more difficult but even if you break even on your current home, you have a good opportunity to capture equity in your new home really quick.

 

Any questions or thought? 

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