Real Estate Tips – When To Buy Or Sell Real Estate In This Crazy Market

Do you have a home that you cannot sell? Do you want to buy but are worried the drop in the market isn’t over? Do you want to buy investment property at the right time so that you can make money off it? All of these questions could be easily answered if we had a crystal ball to look into the future. If I could tell you that in 12 months we would be out of this economic slump you would know to buy investment property now, or hold your house one more year for a better price. The problem is that we cannot see the future.For over thirty years I have been in the real estate business and I can tell you this is the worst market I have ever seen. Recently I have seen several big players in the real estate market come crashing down into foreclosure here in my hometown of Griffin. As a broker I see this as the most slow moving real estate market of my career. As a licensed real estate appraiser I am seeing homes being valued at 10-15% what they were at just a year ago. The bad part of that is the year before that it was even worse.So what can we look to as leading indicators of what is to come? One thing you can look at is the number of unresolved mortgages that are waiting to go into foreclosure. The market is running on a false sense of security right now because there are a large number of mortgages that are waiting to go into foreclosure. I know a few people personally that have not paid a payment in over a year, yet they are still in their homes because they bank is spreading out the damage over time to try to make a recovery. On top of that there are a growing number of vacant homes that the banks are being slow to put back on the market for a fear of flooding it and decimating values.So how do you become a smart home buyer, investor, or seller? Here are a few tips:leave emotion out of your real estate deals. Never buy a home just because you love it or sell simply because you hate it. When you make judgments based on your feelings and emotions you are going to get less than what you deserve.
Develop a relationship with a real estate professional who has their ear to the sound of the market.
Save more money than you have in the past, repair any problems you have with your credit.