You might ask yourself: Is it a smart investment to buy real estate right now? How secure is this investment as we speak? I have been asked by friends and family if this is the best time to buy? I almost don’t even want to answer these questions. I have been around the block when it comes to knowledge on the housing market. I say that because I have seen the front picture of the boom and the behind the scenes of the boom. I now see the aftermath! The problem is that I am not a fore-teller of the future. If I was, I would be retired and would have retired by age 21. All jokes aside, the market is struggling. Although, interest rates are still exceptionally low. There is always pros and cons to a current market. So what makes sense when it comes to buying a house? If we look at history, we see a rise and a fall about every 10 years in the housing market. The real question to ask is: Is this the bottom or have we hit the bottom yet? People are debating this as we speak. If a house has gone down in price significantly and it is still worth more than it was 10 years ago, I would say that it was a wise investment. In California, where I reside, this is the case. So if this cycle is to play out like it has in the past, prices drop and they will come back up. The reason why real-estate is so secure is because you can actually see it and touch it. People will also want it one day too. Find the deals, buy them up, and hold on to them. I see these deals come through my office all the time. I know they are out there. (I am in mortgage banking) Think long term not instant profit. That will be one of the key roles in investing in real estate. Just make sure you can afford it… Put your money on this as I have: What goes up will come down and what’s down will be back up eventually! Its history!
