Investors Beating out Hispanic Buyers

Posted by Steve Bayard on Wednesday, April 2nd, 2014 at 8:01pm.    1277 Views

Investors Feasted on Hispanic Market's Affordable Housing

Hispanics accounted for an increase of over two and a a half million 2.6 million single family owned households from 2000 through 2013, or 47 % of all home ownership growth in the nation according to NAHREP's (the National Association of Hispanic Real Estate Professionals) 2013 State of Hispanic Home Ownership Report. Hispanics buyers have driven the majority of growth in home purchases in recent years, but now face an unmistakable shortage of available single family homes on the market, with a large slice of that pie having been gobbled up by institutional investors significantly. Despite the dramatic increase in home ownership in Hispanic markets have been slowed significantly as there just aren't enough affordable homes out there according  (NAHREP).

"This is a story of potential," said Jason Madiedo, president of NAHREP. "Latinos are ready to buy homes now. Their biggest obstacle coming into today's market isn't credit — it's lack of available housing." Now, I agree with my colleague Juanita Limes about real estate investing is declining, and that it's a hot market for first time buyers with (as of yet) still historically low rates and reasonable pricing.

Now is the perfect time to buy an Ohio home.

Now, this is no ethnic specific circumstance either. I see this happening in many areas around SW Ohio; single family homes being snapped up by large investment groups for "rehab and rent out" and it seems the days of basement bargain shopping is over as the deals aren't as attractive for investors anymore. However, on a positive note it's an excellent time to buy or upgrade as single family real estate prices are still remarkably affordable. If you ever wanted to do it, now is the time.

Steve Bayard - Your Greater Dayton Area Realtor

Email me or give me a call: 937-241-7542

2 Responses to "Investors Beating out Hispanic Buyers"

helen wrote: As a Tennessee Reatlor, I'll testify to this, and not just with Hispanic or other ethnic markets. It's seems being REIT's (real estate investment trusts) type companies seek to snap up and control a great deal of the affordable housing in any market and seemingly unfair for your average home buyer, leaving them only with more expensive choices. My take is buy now while it's still a great time to do so, because the picture is changing very quickly into a seller's market.

Posted on Monday, April 7th, 2014 at 8:34am.

Greg Hancock wrote: As a SW Ohio Realtor, I've seen this in mid size communities and burbs of some of the larger metro areas like Dayton or Cincinnati in suburbs like Monroe, Fairfield, Franklin, Trenton, Hamilton and other places... many of these areas had lots of affordable homes and perfect for work and career access. Not so much now, all I can say is buy now if you can.

Posted on Monday, April 7th, 2014 at 12:30pm.

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