We have been waiting for some time to get into the market. It seems that prices just never come down. But is this a good market now?

We have been waiting for some time to get into the market. It seems that prices just never come down. But is this a good market now?

Investor Asked on September 10, 2019 in Real Estate.
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Most of the questions I get these days have to do with: “Is this a good market?”, “Should I wait?”, “Is the boom over?” or “Can I write a low offer in today’s market?” and so on. In 40 years, I have never seen the “great deal of a lifetime” advertised (or if I did, it turned out it wasn’t). I have never seen a Realtor who REALLY liked low ball offers, including myself. I have never read in the paper that “This is without a doubt the best market ever”, when it really was. I also have never subscribed to the theory that one should wait, let life, ideas, pundits, gurus, worries, stress storm in on us … and to defer our actions to a better day.

In Real Estate investment – the only time to do it is NOW. Always. There are no perfect markets, no perfect situations, no 167 secrets to make that great buy. There are only the actions that you take. Identify a neighbourhood, look at everything that is for sale there, look at everything that sold there, do it for a little while. Oh, yes, I forgot, the only real secret is: “It is work!” Get an idea of what really presents value and then take action. So, get your professionals, your Realtors, your mortgage brokers, your bankers, your home inspectors lined up. Talk to them, see them, work with them and make offers. All good deals are negotiated. So, storm the net, hit hard, and keep shooting on the net. Don’t ice that puck.

 

Guru Answered on September 10, 2019.
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