I wish I had more cash. Right This Second.
I don't say that because I'm greedy. I don't say that because I'm focused on money. In fact I have a very different mindset. I believe in helping people. Whoever the famous person who said it is (many have said Zig Ziglar), but I relate very well to..."When you help enough other people get what they want, you will get what you want."
I see so many opportunities around me. Part of it probably has to do with all the change, and the fear that goes with it. Everyday brings change to our industry. Change to the market, or markets. Financial markets, real estate markets, commodities markets, etc. It's all inter-related. People are afraid. They're afraid of the unknown. This fear is a tremendous opportunity for those who are ready to act. To capitalize on what paralyzes many.
Buy Property! Buy it now! Buy it tomorrow! At the very least, have a plan to buy it.
The only reason I say I wish I had more cash, and "right this second," for that matter, is because I've got a lot of things on my list: Food, Mortgage(s), kids, charity, 401k, 529 - college savings plans, life insurance, reserves, budgeted expenses, IRAs, and more.
Well I guess it's just not my #1 priority right now,
but The Opportunities are out there.
During the past 30 days in the 22102 zip code, the primary Tysons Corner zip code, every single one of the SOLD properties (there were 26 [necessary disclaimer = all data is taken from MRIS, and deemed reliable, but not guaranteed]) settled for a net price below asking price. This is not a shock. However the average negative differential was just about -6% list price to sold price. And some of these had been on the market a while and dropped their price a few times already. So even that figure is misleading. The highest reported differential was -13.86%. The average days on market was 86 days for these 26 properties that did sell. There were another 24 properties that were either EXPIRED or WITHDRAWN from the market in those same 30 days.
Good news is I know there will always be opportunities. Now, tomorrow, and the next day. So when I'm ready to act, I will. But the rest of you, make sure you get ready to act sometime soon too!
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