STEPPING UP TO DOWN MARKETS!

By
Real Estate Broker/Owner with Weichman Realtors, A Trusted Name In Orange County Real Estate #00573423

STEPPING UP TO DOWN MARKETS! 

 

 Remember the ancient curse, "May you live in interesting times"?  While many are indeed cursing the current real estate climate, others see opportunities.  In a "soft" market, the short-term options dwindle, but seasoned investors in for the long haul are positioned to take advantage.

In the words of billionaire J. Paul Getty, "Buy when everyone else is selling and hold until everyone else is buying."  Just like the stock market, more money is often made in a down cycle than in an up market.

Slower times encourage sellers to be more open to negotiation.  Combine acceptance of lower prices with currently low interest rates, and you've got the perfect recipe for bargains.  Real estate is continually cycling, and it's guaranteed that prices will rise again.  The time to get in is now, before that begins to happen.

A "buy and hold" strategy works in this market, while your property appreciates.  While you wait, consider leasing it.  The property can pay for itself with rent collected, and an investor that can pay off a small mortgage is in an excellent position indeed.

Learn from your real estate agent and tax advisor how a "1031 Exchange" can greatly reduce your tax liability when it does come time to sell your investment.  Now is the time to get in, but be sure to know how you'll get out, too!

Larry Weichman, Broker TeamWeichman.com 714-241-4532, larry@teamweichman.com

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Rainer
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Miriam Martir
Keller Williams - Metuchen, NJ

Great advice. 1031 exchanges are a viable option. Thanks

August 08, 2008 11:07 AM #1
Rainmaker
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Larry & Laurie Weichman
Weichman Realtors, A Trusted Name In Orange County Real Estate - Costa Mesa, CA
A Tradition of Success

Thank you for your comment.  This is a great market to purchase more homes and units. We still have about 6 -12 more months of this window market.

August 17, 2008 01:32 PM #2
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Larry & Laurie Weichman

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