Let’s talk about preparing for the opportunities in the upcoming market.
Bob Nelson, Eugene real estate investment broker
Marcia Edwards, Eugene residential real estate broker
Marcia Edwards: Let’s talk about the coming market. We’ve enjoyed a robust market recently, especially residential real estate. I feel fortunate to be in this corner of the world this time versus the recession of 2007. It’s a lot more fun.
Bob Nelson: A whole lot more fun.
Marcia Edwards: It’s also been pretty robust in the commercial investment, right Bob?
Bob Nelson: Yes, it has been. Very much so. But you know, there could be greater opportunities in the near future. There are some people who have been caught by the China virus, in an ownership, or maybe the rents haven’t come in as well as they should, or things have happened. Maybe some people have been let off of work, or part-time and so forth. And those create bad situations, but there are people who then say, “Well, let’s sell something,” and that let’s sell something may create opportunity for another person who’s ready to look for opportunity.
Marcia Edwards: And I would also encourage you in your personal portfolio, in your personal life space, to take a look at what you expect in the next five to 10 years for your needs, and consider acquiring those, or releasing what you don’t need at this time. It’s when you have certainty is a time to make a shift. When you have control, when you have your wits about you, when you have your health, it’s time to take a look at what you can forecast to provide security for your future self.
Bob Nelson: Well, what’s interesting is that I consider myself to be a real estate investment strategist; that’s more what I do than anything else, is I identify if you are in this particular position and you don’t like to be in that position, what do we do to make that better? It’s all a strategy, and you play the strategy that tends to make sense.
You also potentially have backup plans in the event that things don’t happen quite as planned. “If this happens, I’ll do that. If that doesn’t happen, I’ll do this.” There’s nothing wrong with that. Those are good strategies, but know what you’re doing, and know where you want to go, and then just start moving in that direction.
Marcia Edwards: And residential real estate is very similar. In fact, there’s a lot of people that are trying to navigate a purchase before a sale. It is possible. You need to offset the risk of the pending sale, that if you’re not successful they haven’t taken their home off the market and lost completely the ground they had covered. So there’s strategies in both commercial investment and in residential. Give us a call if you want to talk about your portfolio and how to get from where you are to where you want to be.
Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30pm on KPNW for the “Real Estate Today” radio show.