OfflineThere are many predictions about 2011,” Home prices falling faster in biggest US cities”
(Read more: http://www.kansascity.com/2010/12/28/2546110/home-prices-falling-faster-...). Another recent headline: New homes sales rise 5.5% in November 2010 from year earlier.
Which of those headlines is correct? Is the market up or is it down? What is an investor to do? Those are questions that the prudent investor should be asking themselves. The prudent investor has their exit strategy mapped out before making an offer, they know of at least a couple of ways they can make money on the property. Here are suggestions to make 2011 a profitable year:
1. Keep current on market values. Use only the most recent comparable sales information.
2. Understand what type of property sells best in your area. More buyers mean less risk.
3. Use due diligence on every property being considered. Inspect, review and take nothing for granted.
4. Make sure the deal fits your criteria. Only make offers on deals on your terms, don’t stretch to make a marginal deal and hope you make a profit, wait for the best deals you can find.
5. Act quickly. Good deals go quickly. If it starts to go bad, act quickly and cut your losses.
Is there anything surprising or new in the items I listed above? I hope not, you should be looking at every deal exactly the same way. A good deal is a good deal in a good economy or a faltering one. There are lots of great deals available, get going and make some of them yours.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Great to hear that 2010 ended well for you. That positive attitude will help you reach the goals you have set for yourself in 2011. This truly is a great time to be a real estate investor.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
because the economy will probably not get better until more people get jobs. And more people won't get jobs until more people start buying stuff. And people won't buy stuff until they have jobs. I think you can see where this is going.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
As long as the government keeps spending, it will drive the dollar down, and foreign investment will slow. There are definitely tough times ahead, and will cause housing prices to fall. And this is a good thing, because there wasn't a realistic way to keep up with prices the way they were. If median household income in San Diego was around $65k a year, and average home prices are around $600k, That is not a good ratio. You can't cover that for too long, especially in the economy staggers like it has the last few years.
Here in Sacramento a job fair was held recently and it was reported a 1000 jobs available with many in IT. People who have been out of work for awhile and having trouble finding work and are qualified were turned away. When they got there to apply the people were told that the positions would only be filled with people who currently have a job. This was reported on the evening news. What a bummer!