Buyers: Are you praying or preying?
You may have noticed that real estate, as with most assets, fluctuate in value, and sometimes dramatically.
Normal corrections take 3 to 5 years and lop off 35% to 50% of property values. Not pretty.
The emotional and financial upheavals that come from these “roller coaster rides” are difficult to avoid, even by the most seasoned of players.
Understanding where and when the pendulum has been, is swinging now, and is going to, both from a time and value perspective, is necessary to survive the turbulence.
It sounds easy in theory, but in my experience it is not. Macro forces like the valuation of the US Dollar and inflation/deflation scenarios are all important factors beyond our immediate control.
What we can control are things like our credit, income, savings, and our personal debt.
Education, timing, and action are the keys to success in this business. It allows you to be the hunter rather than the hunted. For the forseeable future there will continue to be outstanding opportunities for the astute buyer.
Check out your credit, and repair it if necessary. Save some cash. Limit your purchases, and find ways to generate additional income. Do all you can to help yourself, rather then relying on the macro forces to bail you out.
We all need a roof over our head, but at what price?
Please let us know how we may help you.