The #1 rule in real estate is to buy low and sell high. We know that, but we have to fight our emotions to accomplish that. When the market is euphoric (and everyone is buying) is the point of maximum financial risk. That point happened in 2006.
The period of panic started around 2009.
The point of maximum financial opportunity is when most everyone is feeling despondent and depressed. When people start feeling hope, relief and optimism, we are well into the recovery.
You might not be able to pinpoint the exact top or bottom of a market until after they have passed. But if you agree that the direction is recovery, this is a great time to buy.
If you’d like to start looking at real estate opportunities, search here.
Credit goes to Lonnie Glessner at America’s Mortgage, LLC for his research and statistics in this article.