You're in Vegas standing at a Roulette table and you see that the last 6 turns have landed on red. You throw $100 down on black. You cross your fingers and BOOM... It hits red again! "WHYYYYY???" "How could this happen to me??" "The odds were in my favor!!!".
Sure they were in your favor but it just didn't happen. If you really break down real estate, what is it really? Real Estate in it's purist form is a dwelling, a place to rest, a shelter. With that being said, the best way to look at purchasing a new home is figuring out where you want to live and make an offer. Real Estate is more than likely a long term stock rather than "$100 on black". If you love the area and love the house then buy and stay put. The housing market will turn around. The values will go up and YOU will be happy.
I know I know.... "The guys on tv buy the right house, paint it, and make a killing". Look, it IS possible that the roulette table will land on black but you just never know. On top of that, these guys are pros. They know their stuff. If it were truly that easy don't you think that more people would be doing it? I personally sell homes for investors who have been doing this for years. I have three houses on the market from one investor and this guy has been doing this for years. Sometimes he has landed on black and hit the big jack pots. Sometimes though he has to wait it out.
Real Estate is an investment but it is also the place where you live. Do your research. Look into schools, churches, neighborhoods, commute time, future city plans, everything. Find what best fits your needs within your budget. STAY THERE!
You never know. You may hit the jackpot on a house within the next 12 months but if your intention is to stay and live then you can almost never go wrong.
KELLER WILLIAMS REALTY
9175 CAROTHERS PKY SUITE 110
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