Biggest Real Estate Myth You Should Reject
Q: Do you think now is a good or bad time to buy real estate? Frank, Prospect Park, NJ
A: Nobody can predict the future, therefore neither you nor me nor anyone else can effectively time real estate markets or financial markets in any arena. Research shows that the cost of waiting for the perfect moment to invest exceeds the benefit of perfect timing even if that were possible. One huge real estate myth is that successful real estate investing is about timing the market and guessing right about future price appreciation. The successful investor makes the best possible decision today based on the best information available today. Hindsight is always 20:20, or as Warren Buffett says, “the rear view mirror is always clearer than the windshield”. Nobody can accurately predict the future so it’s best to buy real estate at the right time for you based on your needs, goals and personal financial situation.
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