July Buyer's Tip-Just DO it!!

I get asked a lot of questions from potential buyers of short-sale real estate in the SF Bay Area about timing and what's going on in the market: "Is it going up?", "Is it going down?", "I found a good deal, should I wait and see what happens? What if the price drops even further?".

So here's my Buyer's tip for this month-JUST DO IT!

If there's a property that you're interested in, and it's a good price and it meets your criteria (are you buying a place to raise your kids? Something to fix up and sell in 5 years?), go for it! Sure, the market might keep sliding and you can pick something up in 3 months for a little cheaper than today, but it's equally possible that the particular property could get snapped up, or the economy could get turned around.

You should make a buying decision based on what IS, not what MIGHT be. I saw a sign in an antique shop down in Pacific Grove the other day that said "The treasure you see today might not be here when you come back next week." I believe that principle wholeheartedly. I also believe that for every time one you Rebellious Readers of mine has said, "I'm glad I waited" at least two more of you have said "Dang it! I shoulda jumped on that deal when I had the chance!"

I'll add one caveat to this-I'm assuming that, no matter what your buying reasons are, you're making a CONSIDERED business decision. For instance, are you sure you have the cash or talent to fix the plumbing in that reposessed property? Are you certain you can live with that yard that's a little smaller than you'd like? Can you actually afford the payments on that place you're planning on flipping if you can't resell the house down the road?

If you're looking at your purchase with eyes wide open and a sound reasoning, and all that's holding you back is a case of the "what if the price goes down a little later?" blues, then make like a pair of Nikes and JUST DO IT!

Rebelliously Yours,
Larry