Investors Having a Difficult Time

Investors are having a hard time these days getting properties to buy and flip. Prices are rising to a level where it is becoming very difficult to find properties that have enough margin to renovate and re-sell keeping enough profit to make the investors happy. Even in Prince George's and Charles Counties, where there are an abundance of foreclosures and short sales, prices have risen to the point where the market is turning to a "buy and hold" strategy for investment. That is where I am recommending investors to turn their investment plans. Buy, renovate, rent the property then re-sell later after the market conditions continue to improve. These current conditions are mostly due to the lack of inventory. In March of 2008, in Prince George's County, there were approximately 7,000 units for sale. In March 2013, in Prince George's County, there were only 1,700 for sale. The numbers are similar in Fairfax County with 7,100 and 1,800. If you were not sure that now would be a good time to sell, think again. Investors, start looking to buy and hold rather than flip.

Statistics from Urban Turf
http://dc.urbanturf.com/articles/blog/double_the_sales_and_one_third_the_inventory_since_2008/7024