The Biggest Mistake Almost Everyone Makes!

I just received a monthly newsletter from one of my preferred mortgage agents and felt one of the articles should be shared.

 It goes as follows:

    "In his new book, 'All Real Estate is Local', real estate expert David Lereah, Ph. D., recounts the hard lesson his grandfather learned after the Great Depression"

    "Lereah's grandfather ran a very successful business in a skyscraper on 34th Street in New York City, across from what is now Macy's. Since real estate was down nationally, instead of buying the building for $1 million, he leased his office space."

    "Thirty years later, the building sold for $150 million! Lereah's grandfather ruefully told him the same story every year until he died. He always ended with this advice: Never Ignore The Local Marketplace." 

    "Lereah writes, "Jobs were scarce and families were struggling. Grandpa made his decision based on national trends...reported in newspapers and on the radio."

Too many people today are reading headlines and watching media reports that are meant to increase ratings rather than tell complete stories. How many of us will be looking back on this slow time in real estate with regret and telling our grandchildren how "If I had bought that home back in 2007................."

Thank you Brad at Sun Home Mortgage for including this story in your newsletter.