Monday, January 17, 2011

Lessons From the Past in Real Estate Investing


Myrtle Beach Real Estate investors should learn an important lesson. I have been reflecting on the past 17 years of my real estate career, and realize that there have been a lot of lessons to learn about the Myrtle Beach real estate market. Below are a few observations that are worth reviewing to see the trends that we need to consider.

Myrtle Beach Real Estate Outlook in 2001
 *Prices were low but few people were buying.

Myrtle Beach Real Estate Outlook in 2004
 *Prices were rising and buyers wanted to buy.

Myrtle Beach Real Estate Outlook in 2005
 *Prices were too high and buyers were willing to pay any price to own a property.

Myrtle Beach Real Estate Outlook in 2007
 *Prices were declining and buyers were not buying as much.

Myrtle Beach Real Estate Outlook in 2009
 *Prices were so low and no buyers were buying.

Myrtle Beach Real Estate Outlook in 2011
 *Prices are likely to be at their lowest point....what should buyers do?

One fact will remain for sure; real estate markets will go up and down in cycles over time. The key about condos for sale in Myrtle Beach is that you enter into the market at the correct time.

There has been a lot of negative news about real estate across this country, yet no matter what the banks, realtors, appraisers, or government folks have done to positively or negatively influence the real estate market, we still could have done well if we have learned lessons from the past.

The bottom line to investing is simple.
Buy when the market is low and sell when it is high.

So, how do you know when the market is high? Simple, when everyone wants to buy then it is time to sell. Because, when everyone wants to buy is when demand is high and prices rise at a fast pace. Real Estate hasn't been at these prices for years and the buyers who position themselves in quality investments right now are likely to accumulate a lot of wealth in the next 10 years.
~Greg Harrelson
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