Many people are starting to "smell opportunity" and yet are a bit too fearful to act on their instincts. The reason that I mention this is to get you to consider doing some homework and creating a decision matrix so that you can start to take advantage of the opportunities when you are ready.
One of the smartest things to do in times of uncertainty is to look at what some successful investors are doing. Do some research into the current buying and selling activities of Donald Trump and Warren Buffett. What are they doing? Are they buying real estate? If so, why?
This type of research does not cost you any money and it involves taking no risk. Be informed. When is the last time you worked on the Real Estate Stack to analyze an income producing property? This is a process that you should be able to do with about 15 minutes of work and it will show you an anticipated rate of return for each specific property that you evaluate.
When is the last time you studied current real estate market conditions in Tallahassee? If you do this on a regularly scheduled basis, you will know more than most of the "professionals" about what is happening in the Tallahassee real estate market. Have you checked out the most current movement in Tallahassee Housing Inventories? While these little bits of knowledge take only moments for you to stay current, they are your hedge against the most vocal in the market.
When the market was booming, everyone was yelling "Buy, Buy." Now that the market is busting, everyone is yelling "Sell, Sell." Is following "everyone" the way to make important financial decisions? I don't think so. The key is to inform yourself about the Tallahassee real estate market so that you do not fall prey to the voices of either the irrationally exuberant nor the doom and gloom purveyors.
If you can learn the real estate stack for investment and you are fairly confident that you know where the market has been, you most likely can put yourself in a position to out-perform all the markets. Take your time, do your homework, and you will be rewarded.
Joe Manausa, MBA is a 27 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.