photo credit: Images_of_Money
As for advice to potential buyers, Corcoran advises against trying to nail the precise bottom of the market. “Everybody thinks that they’re going to time the market, they’re going to sharpshoot the market, and buy right at the bottom. The truth of the matter is that nobody is good at it. I’ve been in real estate for my whole life, I’ve been trying to sharpshoot the market with my investments, I’m never right. All you need to do is get near the bottom. That’s good enough. What we are in now is near the bottom.”
“A funny thing happens in real estate,” she adds with a grin, “when it comes back, it comes back up like gangbusters.”
One of the major mistakes people make is trying to time the market and over estimating the value of a home. I see so many investors that call me say “hey Thach, I bought this home and I need to sell it.” I have gone to take a look and see they put too many high end finishing and price the home way over the markets value. Every day the home its on the market, money is going down the drain. I can’t stress enough find a person who is an expert in the area and make sure the you give yourself a lot of room in the numbers when buying a home or an investment property.
Posted via Seattle Real Estate-Seattle Homes For Sale
Leave A Reply With Facebook