Everyone is an expert….
October 13th, 2008 | categories: Coconut Grove Real Estate
“Don’t buy, we haven’t hit the bottom of the market!” says Friend.
“Make a low ball offer and see what happens, now is the time to get a deal!” says Family Member.
“Wait out the market, it is not the time to buy.” says Financial Advisor.
“Buy buy buy!” says Realtor.
Does this sound familiar? Between friends, family, realtors, financial advisors, lawyers, newspapers and television, I”m sure that you are getting different advice every minute of the day.
Whose advice should you take? Probably everyones.
It is always my belief that things are never QUITE AS BAD, or QUITE AS GOOD as people say. Consider taking the middle road with all of the advice you are getting. Coming from someone who lives, breathes, walks and talks real estate every day of his life – the market here in Coconut Grove is not as bad as the media would like to portray. Things are selling and more importantly, things continue to go under contract. Is it great? No. Things could be better.
Will you buy a $1,000,000 house for $500,000? No.
Can you offer $850,000 on a $1,000,000 house? Yes.
How can we predict what the housing market will do in the future? We can’t.
So keep an eye on the banks, the interest rates, the stock market and the presidential race. Keep an eye on what is for sale and what is selling in your neighborhood. Listen to your friends, your neighbors and your realtor. The best way to make an educated decision is to become educated.