This article is geared to stocks and day trading but I think it applies to real estate as well.
"The pros talk about nervous, quick-on-the-trigger traders as the "weak hands" in the market. But the nervousness is really just human nature. It isn't easy to hold on to an investment that's down, even if it was up for several years. When the markets are roiling, many investors panic and sell. And that's exactly the wrong approach.
When the same professionals mention "strong hands," they are talking about investors with a longer time horizon. These savvy investors swoop in when everything is beaten down, acquiring shares at bargain prices. They ignore short declines and stick around to enjoy the above-average returns that will follow eventually." MSN Finance
Pacific Sotheby's international Realty - Newport Beach, CA
Realtor
Good point Todd. Most people buy, "invest" when prices are going up. Its only the top 10 percenters that buy when price's are on the way down. Scott
Apr 20, 2008 06:24 PM
Keller Williams Realty, Ann Arbor, MI - Ann Arbor, MI
Todd and Danielle, You are preaching to the choir here but it is a hard sell in Michigan these days. Whether investment means the larger home a family will one day need and want or income property for cash flow, many may be missing the boat on bargain pricing and interest rates right now. Fear is a huge component of course but won't these same people be kicking themselves when they look back and realize the equity they could have had rather than the price they must pay when the market turns around?
Apr 20, 2008 06:25 PM
Aubrey and Associates Realty - Layton, UT
The C Team
Todd and Danielle, Good post! It seems like I used to hear advice to buy low and sell high, and that to invest in Real Estate was a long term investment and that you bought and rode it out until it reached a level where you wished to sell. Anyway, it was a good post, thanks!
Apr 20, 2008 06:28 PM
Broker Associate PenFed Realty - San Antonio, TX
You Deserve The Best
Glenn Simon Inc. - Edmonton, AB
Nineteen years of excellence!
Scott - That is the divide between savvy investors and weekend warriors.
Susan - I wonder if they will kick themselves. I notice that people have a lot of justifications to not do things (something to do with fear I guess) but you are right there are always the "IF Onlys"
Tony and Darcy - Thanks! Imagine what the Trumps and Kiyosakis are buying in this market now?!
Melody -Great! Glad it connected.
Apr 21, 2008 12:59 AM
Rainmaker
279,751
279,751
Todd and Danielle Millar
Nineteen years of excellence!
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