The media is disseminating such a dismal point of view of our current Real Estate market and a lot of agents are up at arms about it. What do you expect for 50 cents?
Journalists are not analysts. In the Myrtle Beach area it took them about six months to deduce the shift in our market. I caught on within two weeks of the shift, and I blew the whistle; my clients listened and shifted gears at that time and saved their fortunes.
In the midst of the change, the media kept portraying the market for what it no longer was, giving every small time investor who didn't have the benefit of my guidance, a cozy feeling to go ahead and pay those inflated prices of 2005. Oceanfront condos in Myrtle Beach that sold for $ 330,000 at that time are now going for $ 170,000!
The media is saying to rent, to wait, etc. Yes, right! The same gullible people who listened to the media in 2005 and lost their hard earned dollars by paying those inflated prices on Real Estate, and now losing it, will listen to the media again, I'm sure!
The savvy investors are out in full swing, picking up great properties for pennies on the dollar and applauding the media every step of the way. As long as the "herds" are moving the way the media dictates, it makes the savvy investors' buys that much better...
It's hard to be a pioneer and move in the opposite direction, but that is the only way to get ahead. We are crazy busy right now! My investors' appetites are insatiable, driven by a market ripe with extraordinary deals and enticing interest rates.
So what if the market falls even further? As long as you are buying on the downturn, you will do well. It's entertaining to watch "the experts" make predictions regarding our economy. The truth is: we are currently dealing within a World economy with forces, movements and intangibles never before encountered. Folks, we've never been here before; no one can possibly make the correct prediction, but everyone can speculate.... Once the market starts its upswing shift, it will be too late for a great buy; the Sellers read the papers too...
Happy Buying!
Your Myrtle Beach Real Estate Connection, Mirela Monte
http://www.myrtlebeachhomes.us/
Very nice post! This is a great time to buy and from what I hear, lots of great properties at great prices in Myrtle Beach!