Friday, April 30, 2010
by Broderick Perkins
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Deadline Newsroom - Residential real estate's big spenders are back.
While some experts predict the full housing recovery is still nearly a generation away, a growing number of deep-pocket investors are buying like happy days are already here again.
A new Move, Inc. survey said interest in residential real estate investment has more than tripled in the past year.
That's good news. Up ticks in residential real estate investment is often a precursor to housing recovery.
More than 17.2 percent of all potential home buyers today say they plan to purchase a home in the near future as an investment compared to just 5.6 percent a year ago, according to Move, Inc., a network of real estate data and information web sites that include the National Association of Realtors' Realtor.com.
More than ten percent (12.3 percent) of Americans planning to purchase investment property in the near future say they will pay for the property using 100 percent cash, and 12.8 percent will use cash for more than 50 percent of the purchase price and finance the rest, according to Move, Inc.
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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.
Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
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• National Real Estate Examiner
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