Investment property sales in 2013 fell to 1,104,000 properties, down 8.5 percent from 2012 when there were 1,2o7,000 investment properties sold, according to a report just released by the National Association of REALTORS. The median sale price of investment homes purchased during 2013 was $130,000, a 13% increase from 2012 when the median price was $115,000.
Who is the typical real estate investor?
According to the NAR report, the typical home investor in 2013 was a median age of 42 years, had a median household income of $111,400 and more than half (59%) were in a two income household.
What type of property do investors buy?
Almost two-thirds (62%) of the property purchased by investors were detached single-family homes followed by 16% purchasing condos/apartments in a small building (2-4 units) and 11% purchasing condos or apartments in buildings with 5 or more units. Over half (54%) of the property purchased was not a distressed sale , 29% were foreclosures and 18% short sales.
How do investors find the property they buy?
For the first step taken by investors, 35% said they went online looking for houses for sale (20%) or looking for information about the home-buying process (15%). Twenty-two percent of the investors said they found the property online that they ultimately purchased and 19% found the property they purchased through a real estate agent.
For Advice on How to Buy St Louis Foreclosures From A 2000+ Home Buyer Investor click here.
Looking to buy a St Louis short sale? Here is a complete list of St Louis short sale properties for sale.
Want to buy a St Louis foreclosure? Here is a complete list of St Louis foreclosures currently for sale.
Leave a Reply
You must be logged in to post a comment.