You make money in real estate by doing the opposite of what everyone else is doing. In 2005 what was everyone doing? They were buying. Who made money? The sellers. NOW, what is everyone doing? Selling. So what should we be doing? Buying.
You can’t make money by following the heard. If you are going along with everyone else you are missing the opportunities right in front of you. The ones that sold and got out of the market when it was strong made money. Those that waited and waited for just a little more or just a little longer for prices to go up missed out on the peak selling time and ended up with their homes sitting on the market and taking longer to sell and ultimately selling for less money.
No one rings the bell at the bottom of the real estate market. At the first signs of improvement great opportunities become less and less available. Don’t let your opportunity slip way from you.
In the Wilmington, NC area the listing inventory of new homes coming on the market each month is decreasing from where it was. This is a sign of a shifting market. The less homes that are available means less for buyer to choose from and ultimately less opportunity.
If you keep waiting and waiting because of “fear” you will end up standing at the back of the line wishing you were a seller, not a buyer. Why not buy now and be ahead of the crowd?