Well this current little buying frenzy is to be looked at and suspected. Activate the cliche,"it is better to be safe than sorry". We just came off a cycle where everyone was duped and then dropped. Now, do you really believe we are in a full recovery and everything is back to normal? Let me remind you of the millions that are still in foreclosure, negotiating their positions or even those that chose to stay and hold on...They are not prospering in any way
CASH ME OUT
Furthermore a fellow Rainmaker and savvy individual Jon Zolsky shared that the market is being investor driven. Apparently investors who bought just 2-3 years ago who got great deals on short sales, foreclosures, REO's and bulk Real Estate portfolios fixed them up and rented them out biding time to sell HIGH which is upon us now. Many are cashing out making excellent returns on their money.
IT TAKES TIME
Meanwhile the United States government is trying to jump start the economy with low interest rates as bait for buyers to buy and sellers to sell. No mention is made of the high unemployment, the shadow inventory or the fact that it takes years to bring about change good or bad. The premise is compared to an oil tanker at sea. It takes a good 5 miles for it to turn because of its size and bulk combined with power, weather and currents. So it is with any large entity on the move...The government moves slow
LONG TERM GAIN
It took years to produce this collapse and it will take years to right it. Somewhere in the process, consumers, sellers and buyers have to navigate carefully and with clear purpose to accomplish results. The time to make a short term gain is rapidly coming to an end for the most part. Now, Real Estate, will over time, return to its roots which is the King of the long term investments
AFTER THE COW GETS OUT...WE'RE TOLD ITS GONE
The public is the last to know anything that is relevant and life changing that affects our societies and communities. By the time we find out, we are reacting instead of planning. One must learn to read between the lines, keep ones finger on the pulse of life and circumstances and use their gut more. Add...asking questions, diligence and while eager and alert..... remember never to be anxious
OBVIOUS IS FINE...CHECK THE DOWNSIDE
It is pretty hard to dispute buying a home with interest rates so low because the payment will be low as well. Just make sure you prepare for the worst by going over the different scenarios that could affect you. Medical? Lay-offs? Lending moratoriums? Divorce? Unemployment? Transfers? Loss?
Learn or the past repeats itself....until you do
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