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Real estate IRAs gain clout with baby boomers

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For years, mortgage lenders and representatives in other bank services have said they are in the lending business and not the real estate business. That's probably the best explanation why lenders have been skittish about managing Individual Retirement Accounts that feature self-directed real estate purchases. And, the demand is increasing. Retirees and aging baby boomers, well aware of the long-term appreciation of real estate, have begun to seek real estate IRAs. "It's a simple case of people selling IRAs not dealing in real estate," said investment advisor Jeff Moormeier, president of Quantum Advisors. "What is needed is people who specialize in real estate and deal in it everyday – our local Realtors – to understand the self-direct IRA process. It's a huge market that is just starting to emerge." Consumers can invest self-directed IRA money in a wide range of investments, including stocks, bonds, mutual funds, money market funds, saving certificates, U.S. Treasury se...