How's the Market.

As you can imagine, I get this question a lot. From news reporters to the person on the other side of the gas pump as I gas up. And the answer could be an elaborate one or a simple sentence- it's hot or it's very slow, either way, it doesn't really matter.

Keep in mind that an agent or investor does not have to be affected by his/her marketplace. I come across agents (especially at this time in our slow market) tell me the market is very slow, meanwhile, I am doing better than ever. Essentially "their" market is very slow. Yes, real estate trends predict what the large population is doing as far as buying or selling, but the agents themselves decide how "their" market is.

Real estate trends in my area is that sales numbers are low and inventory is high (slow market). So instead of focusing on how hard it is to sell homes, I refocused my plan and became my own best realtor, because I said so. That's why!
Most investors and agents are sitting on the sidelines trying to wait the market until the market is great again before they begin reinvesting in real estate. Prices in general are dictated by supply and demand. When the markets great supply is low and demand is high. When the market is bad supply is high and demand is low.

The problem that I see with trying to wait out the market is that when the market is good you can sell for higher, but you pay more because there is more demand. When the market is low, you pay far less and sell for far less. Many times the two can cancel each other out. Best case scenario you buy when its low and sell when its high, and rent your places out in between. Just a thought.