What to do in Real Estate NOW....

I'm strongly urging my clients to buy homes right now. I know, it sounds easy to say and I'm a realtor, so why wouldn't I give that advice? Let me be clear, I will NEVER advise my clients to do something I am not doing. So when I advise my clients to buy it means I'm buying too!

As an investor in real estate and stocks I feel STRONGLY about this advice. I'm often irritated by "investment professionals" telling us to put our money here or there, only to find they are doing the opposite, or nothing at all. For me, this is unethical and I won't do it.

This phenomenon is most common among stock analysts or "the smart money" who tell you to buy when they have nothing at stake, but it's also common among realtors. How many realtors have you heard SCREAMING "It's a buyers market?!" I've never done a survey, but I wonder how many of these realtors are putting their money where their mouth is TODAY? My suggestion, ask the realtor who wants you to buy so badly, when did you last buy?

I walk my talk.

I'm confidently and loudly advising my clients to buy because that is what I'm doing with my money. I'm finding value in bank owned properties right now, indeed we just closed on a cute little home in Sugarhouse with great potential! The property was purchased by investors in the Summer of 2006 for $275,000, then remodeled for a flip. Unfortunately, these folks were caught in the downturn and the bank foreclosed. We purchased the home for $238,700, and our appraisal came in at $285,000!

It's not a brag, I want my clients to know if its good enough for their hard earned dollars, its good enough for mine. And lets be honest, when my clients make money, it's the best advertising I can get!

Best,

Matt