The Accidental Investors and Prudent Buyers from the Great Recession are having a field day.
Just ask Jeff Aksland of Aksland Real Estate.
“There were a lot of people who saw how low home prices got (during the recession) and decided to buy their first rental,” Aksland said. “I call them ‘Accidental Investors’.”
Aksland, with 15 years in the real estate business, noted that prices have rebounded enough that many of those Accidental Investors listing their rentals for sale are realizing net profit when they sell at today’s prices often in the $50,000 to $100,000 range.
They are using the money for a variety of things including one client that opted to use part of the proceeds to pay cash for a new swimming pool.
Accidental Investors aren’t the only on enjoying today’s real estate market.
So are the Prudent Buyers who bought their first home when the housing market was tumbling and made it a point to buy less house than they could comfortably afford.
The result is those homes have regained much of their value. It is allowing them to sell and move into bigger and newer homes. The monthly house payment is essentially the same given the equity they use as a down payment plus the fact mortgage rates haven’t really budged and are still near historic lows.
“People who didn’t panic are benefitting today,” Aksland noted.
And what type of homes are those Accidental Investors who realized they would have a better cash flow buying a rental home instead of just leaving their money in a bank account five or six years ago selling for today? At the same time what type of homes are those Prudent Buyers moving up to today from houses they bought that were typically under 1,200 square feet and 40 to 50 years old?
Two of them are in the semi-custom neighborhoods near Joshua Cowell School that were built between 1995 and 2003 and are available through Aksland Real Estate.
Linda Aksland has the 1,722-square-foot, four bedroom, two bathroom and three-car garage at 1802 Treeline Way available for $315,000.
The home is move-in ready with new carpets and fresh paint. It has an open-style kitchen with dining area and a large family room with fireplace.
The master suite has an outside door to its own private patio.
It is on a lightly traveled street within a block walking distance of Cowell School.
The other home is listed by Jeff Aksland just around the corner at 1553 Brookside Drive. It has three bedrooms and two bathrooms along with a three-car garage and 1,754 square feet of living space. The home currently rents for $1,850 a month.
For more information on the homes call 209.823.2080 or email either firstname.lastname@example.org or linda@ask4Linda.com