16 Aug Recent Reports Confirm Second Homes And Investment Properties Sales Are Soaring
Sales of investment properties and second homes are through the roof right now! According to Redfin, real estate investors purchased $49 billion in homes during the first half of 2021. Investor purchases increased 15% over first quarter 2020 and 107% over second quarter 2020. These are non-owner occupied homes for rent.
Second homes and vacation homes are also in demand with volume setting records. According to the National Association of Realtors’ 2021 Vacation Home Counties Report, this year is the year of the vacation home! Sales increased by 16% in 2020 over 2019. The trend continues to soar with sales up 57% from January through April of this year over last year.
Here is the challenge….not all of these homebuyers qualified for an Agency loan.
Real estate investors used no income Investor Cash Flow loans because the product does not require documentation. It qualifies off of property cash flow and is an easy, quick to close loan. We have Investor Cash Flow!
Many second home and vacation homebuyers needed non-QM due to tightened guidelines by Fannie Mae and Freddie Mac. They closed using a non-QM Jumbo loan, Bank Statement, or a non-QM full doc option if they had a recent credit event. We have Platinum Jumbo, Bank Statement, and full doc Portfolio Select!
I can help you sell more homes to homebuyers wanting a vacation retreat or real estate investors wanting to build their portfolios. Call me to find out HOW!