Seeing a sign like this makes you say, "DUH", right? Well...just like you can be sure there's water on the road when it's raining, you can be sure that you can find a great deal in real estate when the market is leveling or declining! You could imagine another sign that says, "CAUTION: CHEAPER HOUSES DURING MARKET DECLINE"
You may or may not know that the real estate market increases and declines in fairly steady cyclical flows and on a regular basis. Having sold real estate in the Colorado Springs investment market for over 12 years, I can remember both times when people had difficulty getting someone to take over their payments and times when we had to submit all offers up against competing offers that were overpriced. What you may want to think about is the latter times almost always immediately follow the former!
You've heard the expression, "You make your money when you BUY!", but what does that really mean? It means that you can bank equity NOW because of some people's panic, media interpretation and scare, normal market trends that cause Seller's to "dump" property, and other financial motivations of pressed Sellers in this market.
I posted another blog today: http://activerain.com/blogs/laniacalled, "Selling Your Home Effectively In The Colorado Springs Market". In this blog, I tell Sellers what they are up against and how to effectively get their property sold in this HIGHLY competitive market where we have over 8,000 active listings on the residential Pikes Peak MLS. The sad part is that many of the people who will market thier home during this cycle will NOT make sure that they obtain that level of service and they will NOT make sure their property is sharp enough and priced well enough to compete. Subsequently, the only way for these non-savvy sellers to sell will be through a GOOD OLD FASHIONED PRICE REDUCTION.
Who will benefit from the glut on the market? Why...RICH people of course, but not only the wealthy, but FORWARD THINKING SPECULATORS who are willing to take that plunge and hold tight through the cycle. This is truly an excellent opportunity if you have the sense and the means to seize it! Although I am known as the "Fix and Flip Lady", I say Fix and Hold is where it's at if you can afford it. When people get scared about the trends, they tend to rent and let the dust settle. What are they renting? How about your fix and hold?!
Call or write me if you'd like to discuss, speculate, or if you have questions about buying into the current market trend opportunity. Much Success!!!
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