Where is the market in 5 to 10 years?
April 1st, 2008
I recently had a client contact me over some fear he has been feeling over purchasing in the market and I wrote him this response…. I want to share it because I feel a lot of might be getting similar fear based questions.Hi Nova,
It seems that the whole American economy is going down and the real estates market is going so slow. And the equity in the property is now not going up but going down badly. How could you think it going up every year? In the past 10 years, what is the average rate for going up locally and nationally? How do you think the real estate market in next 5-10 years? I got a lot of negative feeling with the American economy and the market. You don’t need to answer my questions. I just want to discuss some questions with you.
Thanks!
Dr. ****
“Where do I see the market in 5 to 10 year’s?”
I don’t know. For the most part I see the housing market adjusted back up and stable. It is what I have based my whole business off of. Buy Low during this buyer’s period and reselling in actually 2-3 years. I think the full adjustment will be full actualized in another year. Then from there we will have another year flat. But Dr. **** we are going to have a new president after November and they will pull us out of Iraq, ad start a major economic stimulus package. The cowboy politics will end after November and large corrective changes will begin. At least that is what all Americans are pushing for. The dollar will recover. SO I have started with business that will operate in the down window. So in thinking you are going to be able to buy lower later is going to create a pattern of missed opportunity. And in 3 to four years you will be saying “what if I bought then?” I promise. The time is now. If you can take advantage do it. That is my whole business model. Your negative feeling is right, the economy is shifting, but that is my model is taking advantage of this shifting market. The properties I am showing you will yield money, because the margins of profit are so great.
Also, the Seattle market will continue to grow slowly, but it will continue to grow. We are like San Francisco is that manner there is now more room and the job market here is not based off of housing market it is driven by companies with strong International foot holds. So this is a city that will prosper for many, many years. Dr. **** you have the ability to take advantage of the fear the media is creating, that fear is not based on what is happening in the area is it based off of neighborhoods that where over built and homes sold to people that could never afford that type of life style. I am here with a business model that will allow you to buy cheap and profit greatly in the long run (meaning 2-4 years). The development in queen is a great opportunity because of land scarcity, and housing demand. Queen Anne is still having a 14% equity appreciation because of its proximity to downtown; it is the largest in the city. North Seattle is at 5%. These are the latest numbers. I hope this helps..
