08-25-2006, 06:19 AM
Everyone would love to be able to predict the ups and downs of the real estate market. I don't think it's wise to base the timing of any real estate purchase on the advice of a real estate fortune-teller. No one is smart enough to know when prices will bottom out.
It's almost become a cliche in this forum but it's true: the most successful real estate investors are focused on the long-term. In regard to Puna real estate, I agree with the RE Johns on this forum: whether prices go up or down in the short-term, it's going to be a bargain in the long-run. Obviously, this justification is most appropriate for folks who want to be part of the Puna community on a long-term basis.
It didn't take a newspaper article for me to know it was a buyer's market (We watch the market closely - mostly out of morbid curiosity.) I'm seeing potential deals waiting to be done even today. I may end up buying this year, 2 years from now, or never. But I'll never base the timing of my purchase on speculation; it's all about finding a property I love and can afford to own. The rest will take care of itself.
Aloha!
Tim
"My baby, she run away with the garbage man...please come home to me darlin', my garbage can is overflowing." Muddy Waters
It's almost become a cliche in this forum but it's true: the most successful real estate investors are focused on the long-term. In regard to Puna real estate, I agree with the RE Johns on this forum: whether prices go up or down in the short-term, it's going to be a bargain in the long-run. Obviously, this justification is most appropriate for folks who want to be part of the Puna community on a long-term basis.
It didn't take a newspaper article for me to know it was a buyer's market (We watch the market closely - mostly out of morbid curiosity.) I'm seeing potential deals waiting to be done even today. I may end up buying this year, 2 years from now, or never. But I'll never base the timing of my purchase on speculation; it's all about finding a property I love and can afford to own. The rest will take care of itself.
Aloha!
Tim
"My baby, she run away with the garbage man...please come home to me darlin', my garbage can is overflowing." Muddy Waters
Tim
A superior man is modest in his speech, but exceeds in his actions--Confucius
A superior man is modest in his speech, but exceeds in his actions--Confucius