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Use Your IRA to Purchase Real Estate
Most people are not aware that they can use their retirement funds to purchase any form of real estate through a self directed IRA. By doing so, your investment choices can grow exponentially.
Real estate IRA investing opens up a huge range of alternative investments for individuals who are knowledgeable about real estate investing or who work with knowledgeable advisors or brokers, like the Csira Group. Investing in real estate for your retirement may serve as a means to diversify your retirement portfolio to hedge against the cyclical change in the stock market, economy and bank or government-based investments. (…)
Pending Home Sales Up for Three Straight Months
Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to the latest numbers. Lawrence Yun, NAR chief economist, said buyers are responding to very favorable market conditions. “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market,” he said. “Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers.”
This is especially true in South Orange County, where competition for homes in the sub-$500,000 range has been intense. We are experience mulitple offers and prices well above asking price on the more attractive and well-priced properties.
Understanding the $8,000 Housing Tax Credit
The Obama administration has given a gift to home buyers and sellers alike through the “$8,000 Housing Tax Credit Bill.” In the Csira Group’s opinion, this benefits anyone interested in buying or selling residential real estate, whether you directly qualify or not. Real estate percolates up from the bottom. Therefore, if activity is stimulated at the lower tier of the market (as this bill is designed to do), it allows sellers of those homes to move up to larger, more expensive properties, creating activity all the way up the chain.
In order to understand the details of the housing stimulus bill as a first-time home buyer, you need to understand the follow six important points. (…)