Here it is folks. The stats for the 2006 home values in the Triangle. Based on the statistics provided by the North Carolina Association of Realtors, every MLS area in the state rose except one. Which one? Take a guess. Don’t worry, prices for Cary real estate did just fine.
Ok, I won’t keep you in suspense that long. The Triangle saw home appreciation at 5%. The Outer Banks saw the number of units sold drop by 44%, and the change in average cost dropped by 8%.
What does this all mean? It means you should take a home equity line out on your Triangle home, buy a beach house, and invite me down for some kiteboarding.
You know I’m kidding, right? Well, mostly. If you aren’t a big beach fan (did I just call you a big beach fan???), there are other great real estate investment property options for you. I personally invest in college rental properties by NCSU - The Trailwood Hills, Trailwood Springs, Trailwood Glen neighborhoods. I think they are great investments. I helped an investor recently who was able to get 100% financing, find good tenants in a week based on free advertising on the web, got the deposit and first months rent, and is cash flow positive, *including all money down*, before he even made the first mortgage payment. Cash on cash returns exceeding 20% are possible - I’ve got the numbers to prove it.
Interested in residential real estate income properties around the Triangle? Give me a call - 888 969 8989 or send me an email. For the fastest response, sign up for investor information at my website here.
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