| People always ask me if this is a good
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| | purchase a property I look at how the
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| time to buy real estate. Or they ask me
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| | appreciation of the neighborhood compares
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| if now is a bad time to buy real estate.
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| | to other neighborhoods in the same city.
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| I have the same answer for both
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| | I'm not looking for a property that
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| questions: I don't know. More
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| | always appreciates. I'm looking for a
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| importantly, I don't care. Don't get me
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| | property that does better than average in
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| wrong-if you're buying a property and
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| | a slow market. This might mean it
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| plan to flip it in a few months, then the
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| | depreciates at a slower rate. I also
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| current direction of the market is very
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| | want a neighborhood that appreciates at a
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| relevant. But if you're buying a house
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| | greater rate than average when the market
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| to live in its less important. Ok,
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| | is hot. While its hard to find anything
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| wait-let me explain that. I've been in
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| | other than general appreciation rates for
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| real estate a long time, and have made a
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| | a city, a good place to start is a local
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| decent amount of money buying and selling
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| | realtor who knows the market well, and
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| properties. But whether the market is
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| | who can tell you how different
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| going up or down, I continue to buy and
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| | neighborhoods have performed in the past.
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| sell properties. Regardless of whether
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| | Secondly, I look for properties in what I
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| the market is hot or cold, it's going to
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| | call "emerging areas." In the past, I've
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| change at some point in the future. A
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| | seen the largest appreciation for
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| "hot" market will cool down. A "cool"
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| | properties that were not in stellar
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| market will heat up. Sure, it would be
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| | neighborhoods, but properties in
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| helpful to know the exact time a market
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| | "rougher" areas that were improving.
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| will turn. Indeed, there are a lot of
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| | Even if the market is currently cool
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| people that say they know exactly when
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| | these properties can be purchased
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| the market will turn. They're all "100%
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| | relatively cheaply. And if you wait for
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| sure, but no one agrees. Because it's
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| | the next hot cycle these areas might turn
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| impossible to be "100% sure." Simply
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| | from transitional neighborhoods to the
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| knowing that the market will change in
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| | new "hot spot." While I can't predict
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| the future doesn't give you a competitive
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| | when a market will turn, I do look for
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| advantage, anyway. It's like saying it
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| | different things that might affect a
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| will rain at some point in the
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| | neighborhood. Is there a new strip mine
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| future-it's true, but it doesn't help you
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| | moving into an area? It might be a good
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| know when to bring an umbrella. Lets
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| | idea to avoid surrounding neighborhoods.
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| look at an example. I have a friend in
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| | On the other hand, there could be a new
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| California. We talked about the
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| | development that might increase
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| fundamental problems with the California
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| | properties. For instance, if you hear
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| market, like lax regulation enforcement.
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| | that an old chemical factory is about to
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| He told me he was happy that he hadn't
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| | be turned into a mixed-use development
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| purchased a specific property recently,
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| | with cute little shops and expensive
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| because he knew the market was going to
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| | houses, it might be a good idea to look
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| tank. So we talked about the property.
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| | at surrounding neighborhoods. In summary,
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| It turns out that the property he almost
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| | it's hard to predict the turns of the
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| purchased at the time was worth 350k. It
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| | real estate market. But if you do your
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| eventually rose in value to 800k at the
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| | research on the property you are
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| peak. Today it's worth 740k. (Oops.) My
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| | interested in and the comparative
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| point is that knowing the market will
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| | appreciation of your neighborhood, you
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| eventually change is not as helpful as
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| | can ride out the ebbs and flows of the
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| knowing when the market will change. In
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| | market and come out ahead in the end.
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| the last 20 years, the Austin real estate
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| | Ki Gray lives in Austin Texas and works
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| market has gone through many cycles.
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| | as a realtor and an investor in the
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| Simply knowing that there are more cycles
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| | Austin Real Estate market. When Ki is
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| in the future is not helpful. If you are
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| | not investigating the properties he
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| buying a house to live in, its possible
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| | enjoys spending time at the local parks
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| you'll see many hot and cold cycles in
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| | that pepper the Austin Landscape. His
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| the real estate market before you sell
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| | company Escapeso Realty offers a free
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| your home. So what's important? When I
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| | search of the Austin MLS.
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