One person at the REIA of Macomb was quoted to say, "The current interest rate environment and housing inventory levels present a window of opportunity for potential buyers, who have the opportunity to amass a large number of houses at low, fixed-rate interest loans.". For those who investing is a business and not a recreational activity, this is almost an ideal market. The saavy investor can capitalize on the opportunites available to them in this market, and with the interest rates at around 6.18 percent (a much lower figure than most predictions had originally estimated), investors can afford to hang onto the houses until the market opens up more. When demand eventually and inevitably rises back to normal levels, this will create a veritable field day for these investors. Early predictions also place inflation around 2.2% in 2007, down from 3.2% in ‘06. All of these factors combine to create an atmosphere that is great for investors.
Our current market is most definitely a buyers’ market, and with the indicators currently present, it seems that the Michigan economy just might be back on the rebound. Dylan Tanaka, co-founder of the REIA of Macomb, offers this advice, "Now is not the time to be squeamish. Now is the time to buy, and prepare for an upturn in market fluctuations. We must take control of this market and shape it to provide not only income for ourselves, but also to nuture a more stable economic climate for the state of Michigan."
Information compiled from the REIA of Macomb meeting, January 25th, 2007.
The REIA of Macomb will be meeting next on February 22nd, 2007, at the Best Western Georgian Inn on 13 Mile Rd. and Gratiot Ave. in Roseville, Michigan. Their meeting format is as follows:
6:00 - 7:00: Extreme Networking - An hour of personal networking and greeting will be allowed before the actual meeting begins.
7:00 - 7:30: Kickoff - Member and speaker introductions as well as raffles and giveaways
7:30 - 9:00: A speaker will give a presentation on any number of topics, including market trends, buying/selling tips, and strategies for use in the current economy
