Multi Family Buildings More Appealing

Many young and financially savy buyers are turning towards multifamily and income producing properties. Some are renting part and living in the other part, some are just making the investment. These days with caps on FDIC requirements at $100k, and the fear of banks going under...where else can you put your money?

One place in the Destin Real Estate market is similar to below. Visit www.InvestSmarter.com to see more information on investing in multi family properties.

More Buyers Seek Multifamily Properties

Multi-unit properties are regaining popularity among buyers who see them as a way to house extended family members or as an opportunity to get a little help with the mortgage.People of all types purchase multifamily property, says Cory Weiss, estates director of Prudential California Realty in Beverly Hills. "We have foreign buyers as well as owner-users that want to live in a unit and then rent the others out." Magdalena Glen-Schieneman, owner of MGS Architecture in Venice, Calif., says clients seeking multi-family properties are often young, well heeled and financially savvy. "They're looking to maximize their real estate assets by generating revenue with outlying structures."Chad Parsons and his partner, Wolfgang Bauer paid $399,000 in 2002 for a three-unit property in Venice, Calif. Parsons says he thinks properties like theirs could become increasingly popular in overpopulated areas. "I think as the population grows and the space disappears in Los Angeles and other metro areas . . . it's less realistic for people to have large pieces of property with a single home."

Source: Los Angeles Times, Chuck Green (07/20/2008)

For more information on the Destin Real Estate market also visit www.Real-Estate-Destin-Florida.com for some of the latest trends and to become part of the InvestSmarter network.

Creeping interest rates...not a good thing

With things changing as much as they are today who really knows what tomorrow will bring. The one thing that always stays the same is the net outflow of money!! With milk, eggs, bread, insurance, etc all going up and interest rates on the upswing also, markets like Destin Florida are just going to kindof float along. It seems like everything is just a little bit negative these days. There are deals...and if we can get the payment right..it might just work out.

Take some time to review the strategies online at www.investsmarter.com and take a look at what is really happening in the market. There are a few cool ways to approach deals that are
outside the box. But with rates like the article below says going up...what will happen next?

Rising Mortgage Rates Could Slow Sales Rising mortgage rates could prolong the housing crisis, economists say."It strains affordability, and if mortgage rates were to stay at a high level, home prices would have to fall even further," says Michelle Meyer, an economist at Lehman Bros.Cameron Findlay, chief economist at LendingTree, says that over the next six months rates could rise rapidly. "If we don't have inflation under control by then, and there are still signs of inflation – the dollar's continuing to be eroded, oil prices are still high – rates are going to be rising faster."Scott Lanoff of American Success Mortgage in New York says he expects the average 30-year fixed rate to top out at about 6.75 percent.Source: USA Today, Anna Bahney (06/30/2008)

So for more information on Destin Florida Real Estate look here and also play around online at www.Destin-Florida-MLS.com and see if there is a nice piece of property that catches your eye!