Posted on June 28, 2010 by admin

For the last year, the unemployment rate has been the highest it’s been in years.  The average for the country now is around 10%.  The unemployment rate for states such as California, Florida, and Michigan is over the national average with numbers in the 12 – 13% range.  Until more Americans can get a secure and steady job, the real estate market won’t be able to gain any momentum. Gaining momentum is the hardest part of starting anything.  But once the market begins to gain momentum, we’ll begin to see changes in the market, home prices rising, time on the market decreasing, etc.  There are pockets of communities actually seeing this as we speak.  When can we expect to see this gain in momentum as a whole?  Not this year.  Things like this take time.  It’s like a huge ship turning around in the middle of the ocean.  Once it begins to turn it will be awhile before it actually turns completely.  The same principle applies to the real estate market.  My strategy is to watch the numbers for my target cities.  Once I  can see a downward trend in unemployment and a rise consumer confidence, that’s when I will begin to sale.  Yes, Sale! Right now, you need to buy, buy, buy.  In the words of Warren Buffet, “When everyone else is buying, you want to sell.  When everyone is selling, you want to buy”.

Happy Investing

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