Today we’ll be talking about timing. When do you buy? Thank you so much for tuning in to the Real Estate Today podcast.
I’m Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments. And I’m Marcia Edwards, Residential Broker with Windermere Real Estate.
Marcia Edwards: Let’s talk a little bit about the most commonly asked question, at least for me. And I imagine in your corner, Bob, it’s the same. People want to know when the right time to make a move is, both on the buying side, selling side, and I think in investment, is that the case?
Bob Nelson: Yes, it is. It’s interesting, though, because frankly any time is a good time to buy if you number one, know what you should be buying by matching your goals and objectives to the investment benefits in a particular type of real estate. When you see the right thing, don’t wait for recession, it’ll be gone.
Marcia Edwards: That’s a good point. You’ve got less competition, so to speak, when you know what you’re targeting and you know your abilities, and you can compete aggressively.
Bob Nelson: And when you see the right thing, step up and shoot.
Marcia Edwards: That’s right.
Bob Nelson: But again, it’s knowing what’s the right thing? I’m a real estate investment strategist, as are you with residential, and we help people make those decisions. What should I be doing? And by understanding who they are and the benefits that they would be after, it’s much easier to tell them hey listen, you should be doing such or such or this. What would you feel most comfortable to you, and what do you feel comfortable with as a rate of return?
Marcia Edwards: On the residential side, what I see is I’ve got a couple right now I’m working with who could qualify for a $450,000 purchase, and they’ve been renters their whole life. And now’s a good time for them-
Bob Nelson: Boy, yes.
Marcia Edwards: … because obviously they’re making a good income, a two-income family. They’re in the growth mode right now, and they’ve got this opportunity to not be paying some one else’s mortgage. So that’s not that sensitive to timing. That’s just soon is better.
Bob Nelson: Right, exactly. And it’s interesting, an experienced person like yourself, the benefit that you can deliver to individuals looking to acquire is just absolutely tremendous. They know what they generally want to do, they want to own a house raise a family, et cetera, et cetera, but what neighborhood? What should they be looking for, and should they be thinking in terms of resale? Everybody says this is my final home until they sell five years later.
Marcia Edwards: Well, I wish that I had the analysis profile on all the houses for the benefit of each buyer in residential like you do in investment real estate. There’s a huge level of investment that is a benefit and a return to you that’s not recognized in the mortgage payment that you feel like you’re handing off to someone else.
Bob Nelson: Exactly. It’s an amazing … But the service that you can deliver is fantastic, and I hope people understand that. The greater the experience with the real estate broker, the more benefit can be delivered.
Marcia Edwards: Well thank you, Bob. I’m Marcia Edwards, Windermere Real Estate.
Bob Nelson: And I’m Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments.
Join Bob Nelson and Marcia Edwards Eugene, Oregon, real estate experts daily at 5:30 on KPNW for the “Real Estate Today ” radio show.