Are you going to miss the next shift in real estate? Maybe. Much like the stock market, real estate is up, and real estate is down. In the stock market, there are bull market cycles and bear market cycles. Stocks are going up, or stocks are going down.
There are always segments where an industry takes a hit, hence the Dot.Com bust. During the dot.com bust, energy stocks didn’t take a hit, but dot.com companies were wiped out or lost a great deal of their value. Construction materials didn’t get wiped out with the dot.com companies. The market was segmented. That doesn’t mean that the market doesn’t take broad hits. After 9/11, and in September of 2008, the stock market took a pretty sizable hit market-wide.
In real estate, segments of the country drop, and segments grow. They can do it simultaneously. When the markets collapsed in September 2008, the real estate market took a hit country-wide. Some segments were hit harder than others, but it was a broad real estate market correction. That is pretty unusual in real estate, but it has happened before. The Great Depression comes to mind. It’s rare.
In the stock market, certain segments recover faster than others. The same is true in real estate. The only way to really know if a market is in recovery is to look at the numbers. A qualified real estate agent / broker can help you find out what the market is doing in your community.
Rather than wait for the bounce, or bottom or recovery – ask a real estate professional what they see in your local market. A qualified real estate professional will be able to tell you what the local market trend is and where they believe it is heading. Don’t wait until the market shifts into a different direction before you get involved. Are you going to miss the next shift in real estate? Not if you contact your Cornerstone real estate professional.