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The market is ripe for the picking!

By Richard Perkins

Real Estate Agent with R PERKINS REALTY DRE #01277623

October 12, 2007 06:27 PM

I can not quite understand the mentality of some people!They are questioning this buyers market. The market is right for the picking right now. All buyers of real estate should do there research and pick this market clean. The buys are out there and you should do your research and go for it. I see so many experience long time investors, buying now!

I have been in the real estate and building industry in California all my life and have not ever seen opportunity like this before. Watch the quiet investors they are out there picking this market like it was a grape vine. Two years ago I saw people buying the same properties for twice the price. Actually I witnessed buyers fighting and bidding on properties for twice this market. Whats up with people, why are they questioning. Go for it you will make money and time will be on your side. The biggest thing to remember is you are in California. This is a great state with endless opportunity for anyone willing to take the chance.

This market is showing itself now. The grafts show you would be buying at a low point or maybe right at the bottom of this great market. I hope you see the graph is at the bottom or at least somewhere near the bottom. I would say it's just like the graft on any stock you would find on the stock exchange.

Please don't just buy any property do your research. Always buy the best neighborhood you can afford and buy the smallest house in that neighborhood. Someday you will be very happy with yourself for making the decision to buy real estate in a low market.

Oh and one more thing!

Alway go with what you know and stay away from all the negative media !

Do not forget (it's been around for a long time) buy LOW and sell High --------------IT WORKS!

Nothing new here ---just the good old basic's

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Jon Zolsky, Daytona Beach, FL

Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL

Buy Daytona condos for heavenly good prices

Buy Low and Sell High sounds wonderful, but it is the rule only because few people really follow it. We used to have units in the condo-hotel right on the ocean, not the 5-star resorts, absolutely not, and the units were in mid- to high $30s, and people would come, look and walk away. I was getting puzzled by this, used to say that if I give them $5K, they still would not buy. And ten it changed, and within just 6 months the prices went up 2.5 - 3 times. We were overwhelmed showing the units, people were waiting, we had people making offers on the phone without even looking at the units. What was the difference between January 20, 2004, when we had 52 units on resale in just one building from $29,700 to $45K for direct oceanfront units and February 20, 2005 when there were only 6 units and the starting price was $119,900? I could only see one reason, the rush. Others are buying, so I buy.

Now the market is down, and though the average price is around $100K, there are a few units in the $60s. Every week someone would walk into the office, and tell us that they could buy a unit for $35K and they didn't. They did not know that the units would go up in value. They regret they did not buy then, but they are not buying now, because again, they do not understand that there would be another cycle. They think that this was the one and only time that happened. They just do not see it, period.

You may try to explain to them about the cycles, but this is meaningless to them. They need the adrenalin, when suddenly there is a rush, and everyone is buying. We base our decisions on the actions of others. We can't be pioneers. That's why there are not that many pioneers.

Pioneers buy Low and sell High.

Oct 12, 2007 06:53 PM

The market is ripe for the picking!

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