I began blogging on JenniferBuysHouses.com in 2010. I recently looked back at some old posts and was reminded just how ugly the real estate market was not too long ago.
I am happy to report that our recent posts are much more upbeat. The real estate market is doing well right now (emphasis on right now). I'm sure in x-amount of years (hopefully later than sooner) the market will have changed, yet again, and I will write another post reflecting back on the good ol' days circa 2013/2014. It's important to realize that:
- Real Estate is an investment. There is a good possibility that you will see a positive return on your investment (especially if you hold onto the property for a while). There is also a possibility that you won't. Google defines investment as "a thing that is worth buying because it may be profitable or useful in the future." See the word 'may' in there? Investments rarely come without risk (please tell me if you know of any).
- The real estate market goes through cycles. While it's not a matter of physics, real estate seems to follow the idea 'what goes up must come down'. This is seen when home prices increase at rapid rates, forming real estate "bubbles" that are bound to pop. The opposite of that principle true as well.
- If you're thinking about selling, do it sooner than later. I'm not trying to scare anyone, I'm just trying to emphasize that many factors influence the real estate market and it's smart to sell when it's strong. Most will agree that it's a seller's market right now. Don't get stuck trying to sell in a downturned market.
To see how far we've come, check out a few posts from the dark ages (aka 2011):