The current real estate market suggests that it’s a great time to buy an investment property. With low mortgage rates and the demand for more space, this seems like a no-brainer. Yet, this increase in demand with supply diminishing is driving home prices up and forcing many buyers into a bidding war. According to Redfin, 56.8% of all home offers were subject to bidding wars in October. So even though this is a great time to invest in the market, is it worth the potential bidding war?
Bidding Wars
A bidding war occurs when two or more prospective buyers compete against each other to obtain the property they want, gradually increasing the price of the property. Depending on what type of property you are trying to obtain and in which area this may be worthwhile to you as an investor. There are many consumer trend considerations to think about before getting into a bidding war like work-from-home trends and the COVID-19 vaccine influencing travel soon.
Many predictions suggest that these low mortgage rates will remain where they’re at through 2021, so before getting yourself into a bidding war, you should establish a plan and a limit on which you are willing to spend. If you’re not looking to start a bidding war yourself or you aren’t sure where to turn, look to property investors to handle your money.
The WiscoTurnkey Advantage
Now is a great time to look at real estate investing, but the competition and low supply will make it hard to obtain properties that are valuable. Instead of fighting buyers and other investors seeking new opportunities, work with an investment company that provides you with properties that have been rehabbed, are rented, and are generating income. Our team makes sure that the process is easy and straightforward for new to seasoned investors. Start earning passive income from your home, schedule a call with one of our specialists to learn more about your options and investment strategy here.
