| Answer by Don Leske Sr. / Broker & Editor Hi Mac,
Interesting thought. Depending on where you are in the country, it appears
that some people will have it worse than others for the next few years. It
may take that long for this market to really change. For others it doesn't
really matter much, they know when to buy and when to sell. I believe with
the elections coming and the government trying to do some good (albeit not
much)... we may see some stabilization of the market. Either way...., those
in the know will profit, when seller must dump properties cheap we buy. When
its a bullish market and sellers are getting top price...., we sell. - Funny
how that works. ;)
I began buying to rent some properties, selling and flipping other
properties 30 years ago. In the past 12 months we have personally bought 4
homes and a duplex, plus in the past 24 months we have sold 52 homes to the
public. I am keeping all these properties I just bought. All are rented out
and we are in the black on every one of them. When the market changes, and
it will... we will have some great equity to resell a few.
Now..., as Paul Harvey would say, here is "... the REST of the story."
The buyers who are "waiting for the bottom to drop"... thinking things will
get cheaper, .... just be aware that it can backfire. You could be right,
but more than likely not. Its like the price of gas or milk, do you see
these prices going down anytime soon? Probably not. --- We have a 24 hour
Market Watch as part of our local MLS.... this morning it showed 58 homes
sold in just the last 24 hours here. Buyers like me are snatching up the
good deals and will grab up more if they pop up in the summer or fall. Jump
in, the water is fine if you can swim. Just don't count on selling anytime
soon.
Just my 2 cents worth.
Best regards,
-Don
PS; Gosh... I sure love this business. I will be in Europe for two weeks in
August, it will be interesting to see how the market and buyers are reacting
when we get back.
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