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Sometimes You Have To Look into the Future

By
Services for Real Estate Pros with Ward County Notary Services 607851

There are a lot of things a cartoonist can be sure of like holidays and seasons. Generalizations about the seasons can be a little bit of a guess. In his cartoon for today, written more than a month ago, Timmothy got it wrong. We are currently in a drought.

This is an easy transition into Real Estate. You can always find a "guru" with an opinion that aligns with your  thinking. One guru may proclaim "a billion homes will sell next month" and another may say "there will be a drought in home sales and only 100 homes will sell in the USA this month". Beware of false profits! Keep in mind that Real Estate is local. A great example is that while the nation was experiencing a financial crash for many the Bakken Oil Boom hit in North Dakota creating more millionaires per capita then any other State (no longer true). Home prices nearly doubled here while in many other States some property values were cut in half.

If you are new to the world of Real Estate trust local advice from tried and true Brokers and agents. People "in the know" usually enjoy helping others so don't be shy even if they are not from the same brokerage as you.

Posted by

Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

He got it right for New Jersey, Bob!   It has seemingly rained every day here. 

Apr 15, 2024 07:39 AM
Bob "RealMan" Timm

I hope it does not lead to flooding and loss of property Michael Elliott . I have family in Longport NJ.

Apr 15, 2024 07:52 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Real estate IS local. I don't know why anyone thinks you can generalize about that on a nationwide basis.

Apr 15, 2024 07:41 AM
Bob "RealMan" Timm

That is for sure Carol Williams . Even State wide there are going to be opposing RE markets.

Apr 15, 2024 07:53 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Bob, I think each state has their own market and no one can relate to each future of a state market.

 

Apr 15, 2024 07:52 AM
Bob "RealMan" Timm

It even varies within States Will Hamm . I am sure the Denver area is nothing like some of the more rural areas of Colorado. 

Apr 15, 2024 08:17 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, Bob, for sharing your personal experience and advice.

Have an outstanding week.

Apr 15, 2024 07:57 AM
Bob "RealMan" Timm

You are welcome Roy Kelley . Having an oil boom happen near you really changes the Real Estate world.

Apr 15, 2024 08:16 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I have no use for those real estate gurus! Many of them haven't sold a home in decades, if ever.

Apr 15, 2024 08:37 AM
Bob "RealMan" Timm

That is how I have felt as well Nina Hollander, Broker . I think few of them have worked their way up the ranks... often they marry into it like marrying a large builders daughter.

Apr 15, 2024 08:43 AM
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Yes, real estate is local! Yet, much of the country is suffering from a dearth of inventory. There are simply not enough houses to sell. And...there are plenty of ready and able buyers despite the high level of mortgage rates that are so challenging.

It is a strange market!

Apr 15, 2024 10:15 AM
Bob "RealMan" Timm

John Juarez I am always amazed when I hear about a shortage of inventory. I wonder where are the builders? I know when the oil boom was in it's infancy all the young men dropped their hammers and headed into the field. Most of them went from 30,000 a year to $100,000 just like that.

Apr 15, 2024 11:39 AM
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Hello Bob "RealMan" Timm 

Markets go up and markets go down and not all at the same time. It is why the statement below is so true.

 

"If you are new to the world of Real Estate trust local advice from tried and true Brokers and agents."

 

Apr 15, 2024 03:47 PM
Bob "RealMan" Timm

Thank you Doug Dawes . I have know many people move just a county over because of the difference in values and property taxes.

Apr 15, 2024 06:27 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Great advice and great post Real Estate has always been local and the headlines can be deceiving, Endre

Apr 15, 2024 11:25 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Headlines certainly can be deceiving especially if the author has an agenda of their own, Endre. 

Apr 16, 2024 07:00 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

Hello, Bob "RealMan" Timm YES ...

 

Beware of false profits! 

 

So many experts claim to know and spread misinformation, disinformation, fake news, and just plain lies to fit their narrative. Truly they don't know 💩

 

 

 

Apr 20, 2024 10:01 AM
Bob "RealMan" Timm

Well said Kathleen Daniels, Probate & Trust Specialist . Sometimes all we can do is shake our heads in disbelief over what we are hearing.

Apr 20, 2024 03:11 PM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

FEATURED IN CRAP-TACULAR

 

Mr. Crappy Says

Flush False Profits!

💩💩

💩

 

 

Apr 20, 2024 10:02 AM
Bob "RealMan" Timm

My thanks goes out to Mr. Crappy and you Kathleen Daniels, Probate & Trust Specialist .

Apr 20, 2024 03:13 PM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

False Prophets could lead us astray with their pitches promising us false profits if we invest with them !( lol )

Apr 21, 2024 01:23 PM
Bob "RealMan" Timm

Well said Michael J. Perry . They can accurately prophesy they will gain wealth and we will lose it.

Apr 21, 2024 04:02 PM