Tags: Marchiol | dream | home | housing

Real-Estate Expert Marchiol: Now’s the Time to Buy That Dream Home

Monday, 06 Aug 2012 10:21 AM

By Forrest Jones and Kathleen Walter

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Now is the time to dive into the real-estate market, especially for those who qualify for financing, said Tanya Marchiol, founder of Team Investments, a national independent real-estate investment firm.

While the sector is showing signs of recovery in terms of pricing, millions of houses stuck in foreclosure will soon hit the market.

Many such foreclosures were delayed during the 2010 robo-signing scandal, in which faulty paperwork botched the process and delayed the arrival of more houses in foreclosure onto the market.

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Still, for those who can get financing, buy now, as prices will likely bounce along a bottom and later recover, Marchiol told Newsmax.TV in an exclusive interview.

"Now is the 'perfect storm.' Prices are low, interest rates are low, there’s creative financing out there. We are never going to see another time like this in our lifetime. As for investors, this is the time to dive in head first, don’t be scared. This is the time that you make cash flow," Marchiol said.

Rents are high now, which makes investing a wise move, Marchiol added.

"Rents are skyrocketing right now all over, and the prices are still relatively low. So now is the perfect time to invest. It’s the perfect time to buy your dream home. This is real-estate heaven."

As for markets, those that are leading in job recovery are seeing the most improvements to housing, such as the Phoenix market, while portions of the southern United States lag.

"The places that we’re seeing gains are the places that really went way up, came way down and are now bouncing along the bottom. And, the key factor there is the cities that have jobs," Marchiol said.

Data in the housing sector can be conflicting, which suggests the industry is bumping along a bottom.

Editor's Note: Economist Warns: ‘Money From Heaven a Path to Hell.’ See Evidence.

Sales have dipped, yet prices have risen.

Home prices nationwide rose in the second quarter of this year from last year, the first such gain since 2007, according to the firm Zillow.

Home values for the April-June quarter rose 0.2 percent from the same period in 2011.

However, the Commerce Department reported that new home sales fell by 8.4 percent on year in June, worse than expected.

Don't get too caught up in timing the market, Marchiol said.

That doesn't work with housing, especially with more homes slated to hit the market once the sector works its way through the robo-signing debacle.

"Anyone that would predict the top or the bottom of any market is a fool. We’re seeing good signs in the housing market. Prices are starting to rise. But what we have to remember is that there are three million homes that still need to hit this market," Marchiol says.

"So for the next year, year and a half, maybe even two, depending on where you are, we are going to be bouncing along at the bottom. So those numbers are going to be go up and down a little bit."

Editor's Note: Economist Warns: ‘Money From Heaven a Path to Hell.’ See Evidence.

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