In 2005 Real Estate Agents in Myrtle Beach were swamped. If you had a license you'd make money just by showing up. The market was ripe with Buyers eager to spend their 'dough' on "investment properties", because they had read or heard of others making a fortune by "flipping" properties in this area.
Everyone had a brother, aunt or uncle who made a fortune in this market. What those Buyers failed to recognize, is that the success stories they had heard about transpired months before.
The market can turn on a dime. Within a few short weeks you can have meteoric rises, a la 2004 and 2005, or amazing plummets, a la 2007... Just because your brother, aunt or uncle made a buck, doesn't mean that you will also...
Buying when everyone else is buying is simply not good practice. All my savvy investors are buying now, when the media is feeding us all the bad news fodder. Sellers are desperate, deals are a plenty, and the smart investors are gobbling up as much property as they can.
YES, I did buy this year and I will most certainly buy in 2008, and so will my clients! Care to join me?
Your Myrtle Beach Real Estate Connection, Mirela Monte
http://www.myrtlebeachhomes.us/
Comments(2)