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In my emerging career as a real estate consultant, I often get asked the following questions.
1. What is a real estate consultant?
2. How is the real estate market?
First, let me say that the real estate market is flooded with foreclosures no matter where you live. That is great news for investors, first time home buyers or any one who has cash to buy. There are a lot of good deals which means this is a good time to make money in real estate….as a long time investor in real estate, I have always said you make your money when you buy property not when you sell it! You can find great deals on new homes…builders who need to move inventory. You can find great REO or foreclosures that need little or no fix up. Lastly, if you are a renovator then pick up some of those $20,000 or less properties and fix them up for rentals or to flip!
This is not so good news for the home owner who needs to sell in order to upsize, downsize, relocate or who just want to buy a different style of home. Whether you try to sell your home yourself or work through a Realtor, you will not receive the same offer as you would have if you had sold 3 years ago. So what do you do?
As a real estate consultant, here is where I help. I work with consumers and investors who want to buy or sell properties. I help sellers decide if this is the right time to sell or to sit tight for a few years. If they have to sell due to relocation or other reasons, then I help them determine how to best connect their home to a buyer. If they have the luxury to wait….then we talk about what they may do to maintain their home or improve it until they can sell. Many of my clients have decided to update kitchens, bathrooms, flooring, decks or make additions while they wait for the market to turn.
Sometimes the right move is to hold and wait. All investments in real estate–I believe this also includes your personal home–are considered long-term investments. So don’t be in a rush…….like Kenny Rogers said with the Gambler lyrics, “you have to know when to hold’em and when to fold’em”.
I think it is time to buy’em, hold’em and improve’em until the market turns a few years down the road.
Living the Good Life,
- Tips to pick the right real estate agent to buy your home (holidayhometimes.com)
- The Right Renovations for Selling in Today’s Market (reallyhome.wordpress.com)
- How To Buy A Home In Today’s Market (boldrealestategroup.wordpress.com)