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Realtors let's Lead by example and buy a property now

If every licensed real estate agent purchased one property we could turn the market around single handily!

I have suggested this in several comments recently, so it was time to put up or shut up. I am buying land on speculation as we speak. Can I ask someone to buy if I am on the fence? Do I see great value in the current market? If I'm telling customers and clients there this is a great opportunity in the real estate market shouldn't I be buying now?

Will my motivation to sell clients property be raised due to the new expense of acquiring real estate, you bet ya (debt is a great motivator). I am not at all concerned about the purchase, in fact I would have made a buy sooner if I saw something else I was interested in I know the cycle stays in a growth pattern much longer than it stays in a down turn. This is what we do for a living, and I would rather be invested in real estate, than getting a piddly return on a money market account.

As the Realtor's current marketing campaign says: Buying Property is the Key to long term Wealth, I'm not just talking about it I am believing in it. What do you say my fellow real estate professionals it's time to buy and lead by example.

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Your-White Mountain New Hampshire real Estate Expert

steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898

MLS search and Realtor web site: www.alpinelakes.com

My outside Blog: www.steveswhitemountainblog.com

Lincoln NH & Local interest site: www.localism.com/nh/lincoln

Posted by Steve Loynd/ 800-926-5653, White Mountains NH on 06/04/2008 08:17 AM

Comments (18)

realtor, current market values, new hampshire broker, land investment

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18 Comments on Realtors let's Lead by example and buy a property now

JUN

2008

Believe me, there are many listings I salivitate over and would love to pick up. However, we're just not in the position right now...I hope you do well with your investement!

Realtors should invest in Real estate whenever they have enough money to buy . We do not have company paid matched savings 401k plans etc.

Steve, REALTORS are part of the general public, too. I'm sure many of us have the same financial uncertainty that the rest of the public does.

Steve I agree with 100%and I recently put an offer in on a bank owned property in my area and lost the house by $2K because I tried to make a good deal into a great deal and lots the good deal. I would love to start buying all the waterfront property I can get my hands on right now...but unfortunately all my capital is tied up in other property and with the current market conditions...no cash on hand to buy...ugh!!!

I agree with you...anyone that can buy now should...especially agents. It always amazes me when you meet agents that have never owned a home or property...sot of like selling a product you do not believe in or would never use...mind boggling :-)

Natalie, I have a local bank that will do 89% land loans with no PMI, 20 yr terms on a 3 yr adjustable If I haven't done something more with a lot in 3 years shame on me! Steve

Gita & Brian , There is plenty of uncertainty in all the financial markets but it has always been my feeling that property that you can feel and touch is a hard asset, unlike stock & bonds, you can rent it subdivide it, camp on it, combine it with an abutter, EtC the flexibility is what makes it great, I plan on cutting wood, opening up the view and other things to improve the property that is a matter of my time and little or not expense for a greater return. Steve

Kristi

Will Roger once said buy land (and you can substitute all real property) - they don't make it any more. So after everyone gets over the hick-ups we will all want a nice place to live, play and recreate so the cycle will go back to buying soon enough. Steve

Steve...just what I am in the process of doing right now!

Steve - My philosophy is that Realtors should always be looking to invest in Real Estate.

I look at my Brokerage as the "cash-cow" that I can use to build real wealth - while being able to provide outstanding professional service to my valued clients. It's a win-win situation for me.

William, Good for you it is a great time to be buying, and as you know risk equals reward . Steve

Stewart, This is the plan, especially when the opportunity presents it self you can be a hero and feather your own cap with a little effort. Steve

Great idea Steve! How are the Waterville Valley condos doing? Have they come down in price? I have always wanted to be right in the Valley. Let me know...

Steve, I agree with you that we should invest in the product we believe in, and I just LOVE real estate. I am looking into buying in Florida, since I am not going to ski and have no one to fish with, yet.

Monique , There are some very good values in the Golden Eagle, and Black Bear Lodge projects, these are Condo - Hotel style properties with rental desks so if some income support is what you are looking for these will help with the cost of ownership. Steve

Simone, The practice we also know about as Realtors is the use of 1031 exchanges I am very much into leveraging one purchase in to others of greater value, and if you are buying income property now (or land held for investment) and your goal is to retire to some part of the country you should be working towards that being the purchase two years prior to retirement. Which allow for income and then taking the property out of service for personal use later. Steve

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