We are surrounded by negative press about our economy and bombarded with doomsday prophecies regarding world markets.
Firstly, we have all experienced this before… it is nothing new. And secondly it means there are some terrific opportunities in both business and real estate.
There is no question our local market has experienced some corrections with prices now softer than in previous years.
Therefore, it may just be the perfect time to purchase an investment property. Prices are reasonable, rents are strong and vacancy levels are extremely low. Some of our experienced and successful landlords are doing exactly that. I have always tried to watch and learn from successful people, and it is no secret watching their strategies in our current economic times.
It is also a tremendous time to sell if you are looking to trade up into a higher priced home. Although on the surface it may appear that your home has “dropped” a little, there are many examples of homes in higher price brackets “dropping” by a lot more.
If you are trading from a home at $1.2 or $1.3million to buy something at $1.6 or $1.8million you might just find that on paper you are $300,000 or even $400,000 better off! A move such as this is very attractive in our current local market. Obviously the higher the price the larger the attraction. This opportunity to trade up doesn’t work if you wait for a rising market, so there is a school of thought that suggests that now is the perfect time to do so.
Please call us regarding buying or selling. Now more than ever an experienced agent providing reliable advice is paramount.