What’s The Real Deal On The Real Estate Market – Part 2-2

Speaking of…

WHERE DID MY $349,000 DISAPPEAR TO?

So I’ve been studying our neighborhood here in St. Augustine for about 2 years now. Part for fun and part because we eventually plan to buy here when we find the right deal at the right price.

Any how, the houses here range in price from $200,000 up to $2,000,000. It’s pretty crazy. As a good investor, you want to understand the whole market. So I’ve been watching properties all over the price spectrum.

And that’s when I saw something that shocked me.

There’s this property facing the coveted 9th hole with water views. Absolutely unbelievable. I’m talking your backyard looks like a water color painting.

This property was original for sale at $1.1 mil. They then increased, yes I said increased (long story, I think the owner is just very confused) to $1.3 mil. Over the course of nine months, they dropped it back to to $1.1 then to $999,000 and now a huge drop down to $650,000.

Wow! That’s $349,000 gone in a flash. Talk about a roller coaster.

And I’ve been watching this property closely (just like you should in your neighborhoods) because whether or not I have any interest in buying it, if and when this property sells it is going to impact the value of all the homes around it.

The second big take away for you is this, this IS an investor’s market.

When prices are stable and increase in value in a “traditional” way, homeowners buy and sell the “traditional” way aka with realtors and such.

In a market where the rules go out the window (or like right now up in smoke) this IS an investor’s market. Because buyers and sellers are MORE motivated than ever before. And when the “traditional” way of getting real estate isn’t working they look to folks like YOU!

I mean who wouldn’t want to save $349,000 and the best view in St. Augustine of 9th hole.

(FYI – If you’re wondering why this property didn’t sell and what you could have done as an investor. Simple – you need to have convinced this homeowner nine months ago to drop her price $200,000 the first time she got a nibble and she would have sold her property like that! Now that’s it’s been sitting a year along with a half a dozen other properties on the market, she’s essentially dug her own proverbial grave with this one. All which could have been prevented if a good savvy investor had stepped in at the right time).

SO THIS WEEK REMEMBER

All markets are not the same. Don’t buy into the hype. Know and study your market just like you would your favorite sports team. Most of your competition and even the “professionals” don’t do this. So when you do, you automatically have a huge advantage.

And EMBRACE this market.

Hug it with WIDE OPEN ARMS, or more accurately grab the bull by the horns and give him a kiss on the cheek =)

While it saddens me to see the hardships this whacky economy is having on so many families, facts are the facts.

This markets is like the Gold Rush.

It’s like the land grab of the great American Frontier.

It’s wild. It’s untamed. And for the bold of heart, it presents the kind of opportunities you may never see again as long as you live.

Millionaires, YES MILLIONAIRES will be made in this market.

I truly hope YOU will be one of them and I can play even the smallest part in helping you get there.

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Related posts:

What’s The Real Deal On The Real Estate Market – Part 1-2
A $150,000 Pay Day
The Most Unbelievable Open-House Ever
Damian’s Jedi Marketing Class! Part2
Wonderful 3-Acre Equestrian Homes Sits Unsold For 277 Days & Probably Will NEVER SELL Because Of HER!