Price gains were universal across the country in 2013 and that means even the most stubborn pessimists are starting to take notice. In the best year for housing since 2005 prices rose nationwide by almost 12%.
Of course we need to keep in mind the facts in the big picture. Prices are down 21% from their peak in mid-2006, and home sales are down generally to an 18-month low. But that’s just a sign that there’s more opportunities out there.
Here are some important things to remember as you look for key real estate investments.
1) Don’t be too quick to pass up an opportunity – we’ve seen too many times how what looked like a risky investment turned out to be a gold mine.
2) Don’t be the guy who doubles down when he’s losing and backs down when he’s winning – if you’re gutsy, be gutsy all the way. If you’re playing it safe, be smart about it.
3) Most importantly – don’t pass up free advice. If you have resources available to you, make sure to take advantage of them. If you’ve got someone to learn from, don’t be stubborn. Reach out for help if you need it.
That’s my read of the landscape for this week. Make sure you keep your eyes open as we roll into the end of the first quarter.