We hear it every day now from the media, we are headed to a recession. This reminds me of a famous saying, “Whether you think you can or think you can’t, you’re right.” Are we thinking our way into a recession? Not really, but are we thinking ourselves into a panic? Probably. If your strategy for success in real estate is to blow with the winds of emotion you are only going to be right part of the time. Not unlike a broken watch that is correct twice a day. You need a formula based strategy that adjusts to the mood of the market. You should not want to accept a person only when they agree with you. Nobody would get married or stay married, but that is a different story. We are talking about savvy moves not knee-jerk responses to long-term activity in real estate.
We have been through many cycles over the years and it is almost comical to watch the show of emotion drive people to make significant decisions with their real estate activity. For us, it makes it easier to spot the opportunities. Think about it this way. For most people, when you have more money in your account you likely think less about driving to the grocery store or other destinations multiple times. When your funds are less, you ponder your decisions more carefully, but you still go to the grocery store. Real estate professionals that have been successful over a long period of time in our experience, tend to adjust rather than make abrupt changes. A new show on the Bargain House Network coming in September 2022 called “Property Review” will empower people to call in to the expert on camera and ask for a review of a real estate deal. He, she, or they will tell you how they would evaluate the opportunity for the different scenarios in consideration of different market conditions. You make the choice that is right for you, but at least you will be able to make an informed decision!
Yes we are statistically in a recession, but we are still going to pursue real estate, just like when Monday rolls around each week and most people will still go to work. We can not and do NOT offer accounting, tax, legal, financial, nor investment advice, just news and opinion.