SAN DIEGO--(BUSINESS WIRE)--The stars seem to be aligning again in real estate. Foreclosures are down, excess housing inventory has been reduced, new home construction is on the rise and home prices are starting to climb. Those are promising signs of a solid housing recovery. And that, according to Blue Sky Capital, a San Diego-based real estate investment firm, makes now the best time to get back into real estate.
“Blue skies are on the real estate horizon, something we haven’t seen for more than five years,” said Chris Williams, CEO of Blue Sky Capital. “Even though there are still a lot of distressed properties out there, they are working their way through the system and home prices are readjusting and starting to rise.”
Blue Sky Capital points to these five compelling reasons why investing in real estate now, is the right choice at the right time:
- Foreclosures declining
- Inventory is down
- Motivated sellers
- Low interest rates
- Affordability Index favors owning versus renting
Blue Sky Capital is heeding its own advice and recently purchased a block of assets that will create a rental pool of approximately 124 properties. The properties include a collection of homes in all price ranges in desirable areas of California, and will be held to catch the coming wave of appreciation.
“The real estate market is healing and will continue to improve in 2013,” added Williams. “Whether you are an investor or home buyer, the conditions are ripe to jump into real estate now and buy properties at great prices.”
Another factor that may push home sales and prices up is the Mortgage Forgiveness Debt Relief Act. The Act gives debt forgiveness from a short sale, but if Congress does not extend it into 2013, there could be a rush of short sales by the end of the year, pushing up home sales and prices.
About Blue Sky Capital
Blue Sky Capital, formed in 2010, is helping to rebuild San Diego neighborhoods through a systematic and disciplined approach to real estate investment. Blue Sky Capital hosts the weekly Chris Williams Real Estate Report, which features the latest news and information about what’s happening in real estate today.