The media is currently full of real estate 'doom and gloom'.Real estate repossessions and arrears are up and real estate prices are down. It’s almost as if the 'sky is about to fall'!
This situation has seen lots of real estate developers, and property investors generally, leave the market and for those thinking of starting out in real estate development, these are scary times indeed. You can visit http://www.yanrealty.com/rowland-heights-real-estate-agent/ to hire real estate agents in Rowland Heights.
What seems like the worst time to get into real estate development can, in reality, be the best time. Successful real estate developers today feel that they can use the time to their benefit – their real estate development projects will typically not be ready for sale or rent for 2 to 4 years from inception.
So if they have bought well, they are less likely to be affected by the economic situation at the time of purchasing their real estate development site.
Even though we know that the real estate development business is recurring, and many parts of the world are in a property recession, we also know from history that knowledgeable real estate developers are successful in any market – falling, flat or rising.
It is our view that the following market signals are some of the key factors that will lead to increased future opportunities, especially for real estate developers:
- The pent-up demand for housing.
- We believe that a growing number of people, in the short to medium term, are likely to require the rental space that we intend to build.