EXIT Realty's Steve Morris says, "It's Always Darkest Before Dawn"

Reblogger Kevin Kilpatrick
Real Estate Broker/Owner with EXIT Realty Success, Salt Lake City, West Jordan, Utah 5450620-PB00

Original content by The Team at EXIT Realty

Steve Morris, CEO & Founder, EXIT Realty Corp. InternationalA commentary by Steve Morris, Founder & CEO, EXIT Realty Corp. International

Knowing precisely what to do next in order to progress and succeed is the mark of great leadership. It's also the prerequisite of sound investment strategy.

At some point in 2009 the bottom of the real estate market will be established and formally announced. I suggest that perfect timing for this would be the end of June. This all-encompassing "line in the sand" would be drawn, of course, as a result of relentless compromise between lenders and borrowers who have heretofore frenzied furiously in the sub prime aftermath. In either case the resident, tenant, customer and client will stop looking down once this stand is taken. Given pause, everyone will then begin looking up.

It goes without saying that when you're sitting on the bottom of a garbage can, there is only one place you can look, and that's up. Then, from the standpoint of strategic initiative, we're all faced with the premise that it's always smartest to buy real estate when it looks its lousiest. Well come June, just how lousy does it all look? Then again, where is the money going to come from if you did want to buy?

It's true that the lending institutions have flip-flopped from a precariously loose giveaway mode, to a very rigid, unyielding resistance concerning the borrowing public. There's no question that by mid-spring it will become obvious that their money is not making money and flexibility and availability will revive. This will come after a very slow winter season, which will trigger a wake up call. This being true, opportunities for investment will abound come the summer and those in the know will seize them.

Chances are that the real estate you buy in the first half of this year will look like fabulous investments three to five years from now. Our directive is to buy in the spring. Timing is everything. After all, it's darkest just before dawn. Then a new day begins.

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