 CLC
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Thanks
to the collapse of the credit markets and the scarcity of banks and
investors who still originate construction loans, and are available
for remodeling/rehabilitation of owner occupied one to four
residential units with new higher loan limits.
The Collapse of
the Sub Prime mortgage has resulted in a massive foreclosure rate
which has created tremendous opportunities for snapping up
sub-standard properties and remodeling them with construction loan.
Foreclosure Properties and Construction Loans Are the Perfect Match
for the savvy homebuyer. Finding a run down home and purchasing it
with a construction loan, which is based on future value, may be the
best way to go.
Interest rates have
gone up, real estate transactions have slowed down, and gas is at
record prices. Is now a good time to build? Absolutely!
In fact, building a home now is the least expensive it has been in
the last five years. With market conditions affecting the
production builders, retailers and subcontractors are scrambling to
find business. As a homeowner, you can take advantage of the
situation to make your dollar go the extra mile.
Without proper
planning, construction costs and quickly spiral out of control.
Arguably, construction is one of the most difficult processes people
can encounter. There are a multitude of entities and costs
that combine to form a construction budget and project.
However, proper planning and investigation can remove much of the
doubt surrounding costs. The following techniques can you help
– and your project – finish on time and on budget.
More Articles by Construction Loan Center's
Adviser
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[2]
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