Only a Fool Can Time the Market | By Shaun Osher
Or a liar! Real Estate markets move, and they are moving quicker now than ever before. This is in large part due to the fact that technology has made it easier to track inventory, sales, and general consumer confidence - which is usually the most powerful determining factor of most market fluctuations. The smartest thing you can do as a buyer or seller is to ACT!
Procrastination is the enemy of making a fundamentally good decision. If you consider the fundamentals and reason for your purchase, your goal should be to act swiftly when the opportunity arises. The market will certainly go up from where it is (at some point in the future), and very possibly go down, but your opportunity will also move. Regardless of where you are looking to buy (or sell), if your reasons to buy (or sell) are sound, and based on factors that are defined by your needs (rather than by making a quick buck) you'll do well. In my personal experience in New York City, over the past twenty years, I have never met a person who regretted buying a piece of real estate. I have only met people who regretted not buying a piece of real estate.
Waiting for that "right opportunity" and "the right time" will paralyze your decision-making process and allow all those tangible opportunities right in font of you to be seized by someone less "smart". At the end of the day, once you've defined the reason you are buying (or selling), make sure your reason is sound. Do your due diligence on the opportunity, and if it makes sense under the current market conditions - dive in.
By: Shaun Osher