BUY ! BUY !! BUY !!!
Dr. Anthony G Ziagos, Sr.
September 2007 is here and we are advising all of our clients to BUY BUY BUY ! The cycle has reached near bottom levels and the banking system will not allow red ink to flow much longer. When main stream media reports the market has bottomed out, it will be too late to profit from the current real estate cycle. In May of 2005 when we advised our clients to sell the philosophy was; "There is no profit until you sell." Paper profits were erased quickly and those that waited saw the real estate market prices decline as much as 25% from their peak. Real Estate is a long term investment, and it is cyclical.
It is our opinion that NOW is the time to BUY and your new philosophy should be "Make your profit when you purchase real estate not when you sell." Any further decline in real estate values will be marginal. Interest rates will decline over the next 30 to 60 days and with winter weather approaching in the Northeast sellers MUST sell or dig in for another six months.
Buyers should try to obtain extended closing dates and terms if you cannot buy at Hugh discounts. If you have cash do not be afraid of leverage in this market. The market will begin to accelerate upwards when rates drop and public perception is convinced the bottom has arrived.
As always, look for superior locations, value added projects, or expanding square footage without additional land costs.
For the more adventurous, syndicate funds with a few friends. Look at fixers and bank owned turn around transactions. Real Estate cycles and there is no profit until you sell.
(c) 2007 Middlesex Media Exchange / All Rights Reserved
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