15 Oct Real Estate Investor Report: Third Quarter 2010
ere we are in the last quarter of the year and the real estate market is looking great for investors looking to take advantage of record low interest rates and attractive prices! Sales edged down a little in the 3rd quarter coming off an increase in the 2nd quarter of 2010 (most likely due to the first time buyer tax credit).
According to the Intermountain MLS, sales prices are beginning to stabilize in Ada County but are continuing to decrease in Canyon County. However, thanks to a stable rental market, Ada and Canyon County continue to offer great investment opportunities. Here are some of the 3rd Quarter 2010 averages for newer homes and apartments that you might be interested in:
Average Price Mortgage Payment* Average Rents
Single Family (3/2) $111K $625/mo $850/mo
Multi-Family (4plex) $232K $1,271/mo $2,400/mo
Single Family (3/2) $78K $432/mo $750/mo
Multi-Family (4plex) $187K $1,031/mo $2,200/mo
With the prices as low as they are, rents remaining stable and interest rates at rock bottom, it couldn’t be a better time to invest in real estate.
*Mortgage Payments assume: 20% down on a thirty year fixed loan, 5% interest rate, 1.25% property tax and $200/yr renters insurance policy ($400/yr policy for multi-family properties)