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we never know where low is ... yesterdays tops can be todays lows ....
the problem with thinking you are buying low is many times it can be like trying to catch a falling knife ... we all thought low was when the stock markets fell 2000 points in 2008 .. who would have guessed we had 4000 more to go ..
as an investor for more than 30 years now , i have found buy low sell high has resulted in more lost money then any other mantra .. the trend is your friend and usually the next stop in a down draft is even lower ... that scared a lot of people out who bought as investments .
what seems to make the most money when it comes to investing is buy high and sell higher . an object in motion tends to stay in motion until it hits something ... so waiting for low can be a bad way of investing .. ...when the trend is up the next stop is usually higher ... when the trend is down the next stop is usually lower .. it is hard not to make money when the trend is up .
But there is so much talk of 2020 things cooling off and we are at the end of 2019, does it make sense to jump in now or wait next 6 month to a year. I am not sure, that is why I am asking. I am seeing more house in the market, sitting for longer time but I am also hearing lot of people say they are waiting for 2020 and even if price doesn't go down, they will buy it because there is so long they can hold off. These are people looking for primary house.
I have one rental property that I brought in 2015 and love it. I have been looking to buy another rental place SFH but I am not sure if I should jump into on now or wait until next year. The lost rent money for a year vs. lower housing price, then there is the supply bit. More house on sale means better quality house I can find.
But there is so much talk of 2020 things cooling off and we are at the end of 2019, does it make sense to jump in now or wait next 6 month to a year. I am not sure, that is why I am asking. I am seeing more house in the market, sitting for longer time but I am also hearing lot of people say they are waiting for 2020 and even if price doesn't go down, they will buy it because there is so long they can hold off. These are people looking for primary house.
I have one rental property that I brought in 2015 and love it. I have been looking to buy another rental place SFH but I am not sure if I should jump into on now or wait until next year. The lost rent money for a year vs. lower housing price, then there is the supply bit. More house on sale means better quality house I can find.
if i wanted to invest in something i always do it... most of the time things not even on the radar yet change the course of what we all see and think ...waiting rarely pays off ... whether it is stocks or real estate most assets spend 2/3's of the time going up and just 1/3 down . plus if you miss the biggest jumps up you missed the low hanging fruit , these big moves usually happen while markets look like there is no bottom and we are headed lower and lower . so waiting never pans out like one expects .
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Know your local market, and exit criteria... BEFORE you buy. (Any investment, especially RE). Even more true with RE,. Higher costs for more liquidity / desirable props. That is not a bad thing. Run your own numbers, don't buy 'wishing' it will work out. The next buyer will be looking for 10 - 12% returns. You need that too!
Maybe I'm the only one, but I like to look at a neighborhood household income and compare it to home prices. I think it works better because where I'm at, the owners work....whereas I think it would work less in say San Francisco, where many of the owners are owners....and the price is less prone to the shifting wax and wane of the labor markets. If you can trend it, you can see what's relative for an area. It's less helpful in comparing say Phoenix to San Jose.
Locally, you can buy at these valuations and we've seen prices come down a bit, but you need a definite reason why. 10 years ago you could throw darts at a map because the banks were broken. I'll be looking in December when everyone's shopping for clothes, but I likely won't buy.
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