Remember the ancient curse, "May you live in interesting times"? While many are indeed cursing the current real estate climate, others see opportunities. In a "soft" market, the short-term options dwindle, but seasoned investors in for the long haul are positioned to take advantage.
In the words of billionaire J. Paul Getty, "Buy when everyone else is selling and hold until everyone else is buying." Just like the stock market, more money is often made in a down cycle than in an up market.
Slower times encourage sellers to be more open to negotiation. Combine acceptance of lower prices with currently low interest rates, and you've got the perfect recipe for bargains. Real estate is continually cycling, and it's guaranteed that prices will rise again. The time to get in is now, before that begins to happen.
A "buy and hold" strategy works in this market, while your property appreciates. While you wait, consider leasing it. The property can pay for itself with rent collected, and an investor that can pay off a small mortgage is in an excellent position indeed.
Learn from your real estate agent and tax advisor how a "1031 Exchange" can greatly reduce your tax liability when it does come time to sell your investment. Now is the time to get in, but be sure to know how you'll get out, too!
Understanding real estate dilemmas and their solutions is our business, and we'll happily share our knowledge with you. Why not give us a call at (772) 323-6996 or visit us on the web at http://www.gabesanders.com/ and http://www.treasurecoastflhomes.com/. Our office is located at 2 N. Sewalls Point Rd. in Stuart, (Sewall's Point) Florida; please ask for Gabe Sanders or Susan Maxwell.
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