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WHEN WILL IT BE SAFE TO BUY REAL ESTATE AGAIN ?
Hi, it's Mik with New To You RE, LLC and that is the number 1 question other investors ask me, as of 11/30/10. Here's the REAL concern behind that question: Property values have fallen, throughout the country. The "sand states" have been the hardest hit (FL, NV, AZ and CA), with their values plummeting 50% and more. What alarms many is the fact that real estate values dropped at all. They believe that this has NEVER happened before and that this event must surely signal an end to real estate investing profits. BULLSHIT - This happens EVERY 10 - 12 years, on average. Admittedly, NOT to the degree of recent declines. Not to panic, though. While real estate values HAVE dropped, the root cause was the employment sector. Generally, housing values are challenged every 10, or so years, as I stated above, and that is usually due to supply and demand, as well as other factors that are STRICTLY related to real estate. THIS TIME, the values were mostly affected by: 1) Subprime loans that should have NEVER been made 2) A poor job market - which caused a 3) Weak economy When 3 MAJOR factors, like these, combine - the result is NOW Just understand that STRONG VALUES will return, in 3 to 5 years - as long as the current economy continues to improve. DOES THAT MEAN I SHOULD BUY REAL ESTATE - NOW ??!! YES - it absolutely does. Most wealth, in real estate, is MADE in this kind of market. LET ME PAINT YOU A PICTURE: Mik finds a sweet deal on a house that he is buying for LESS than other "RECENT" comps have sold for. As the rental market is STRONG in this economy, he puts a renter in the house and concentrates on finding more great opportunities - using all the knowledge that he acquired from NEW TO YOU RE, LLC !! A couple/few years pass and that SWEET DEAL has become MUCH sweeter. Mik sees all the investors that are NOW starting to come back into the market - looking for GREAT opportunities. Because Mik had the foresight to BUY earlier, the increased real estate values, on the properties he acquired over the last couple/few years, have created a TREMENDOUS opportunity to sell, capitalize on instant equity, and continue to find other investment opportunities. Once the real estate market is flooding with buyers and investors, that drives up real estate prices/values !! DON'T miss the opportunities that are all around you. CURRENT Market conditions are all set to make you INCREDIBLE PROFITS in real estate. OPEN YOUR EYES, OPEN YOUR CHECKBOOK AND RULE THE REAL ESTATE WORLD !!
1 Comment
Vinnie from Southie
12/15/2010 02:24:26
I see all kinds of crazy deals that people would never see even 2 years ago. Boston values are on the rise and you know I'm gonna be getting some shtankies!
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