Black Friday sale and no lines?
I was having
a Twitter discussion with an agent recently. The
exact details do not matter but it got me thinking
about Black Friday. For those who do not know the day
after Thanksgiving in the US is called Black Friday.
It is the day when the Christmas shopping season
kicks off. The Christmas shopping season is generally
when retailers make most of their profit as their
businesses go into the black for the year. The Friday
after Thanksgiving is the tipping point. Extra effort
is put into the one day so the retail season kicks
off on a good note. Special Black Friday sales are
expected. Some degree of rioting is also starting to
be the custom but that is off topic.
Buffett has said, "Be fearful when people are greedy and greedy when people are fearful". The statement most recently appeared in an OptEd piece he wrote concerning buying shares in companies now that the stock market has crashed and we are experiencing a credit crunch in the bigger marketplace.
In a reply to a tweet from the agent I wrote, “Spot on. Buffett's statement works very well with real estate. Too many folks fear the lower prices. A sale with no Black Friday lines.” Maybe a terse statement but Twitter does limit you to 140 characters.
The housing marketplace in many countries is effectively on sale. Prices are down to levels not see in a few years. Even more important for real estate investors the sellers are motivated to consider deals that they once would have laughed at. Seller financing is many times the best way to go and now is the time that sellers will at least consider offering financing to the investor buyer.
If you are an investor tell me what you are seeing in your market. If you are not buying now because you are concerned about the lower prices, tell me what will have to change before you would make an offer. I am honestly interested in hearing your views.
To follow me on Twitter just click on the link to my ID: John_Corey
John
Buffett has said, "Be fearful when people are greedy and greedy when people are fearful". The statement most recently appeared in an OptEd piece he wrote concerning buying shares in companies now that the stock market has crashed and we are experiencing a credit crunch in the bigger marketplace.
In a reply to a tweet from the agent I wrote, “Spot on. Buffett's statement works very well with real estate. Too many folks fear the lower prices. A sale with no Black Friday lines.” Maybe a terse statement but Twitter does limit you to 140 characters.
The housing marketplace in many countries is effectively on sale. Prices are down to levels not see in a few years. Even more important for real estate investors the sellers are motivated to consider deals that they once would have laughed at. Seller financing is many times the best way to go and now is the time that sellers will at least consider offering financing to the investor buyer.
If you are an investor tell me what you are seeing in your market. If you are not buying now because you are concerned about the lower prices, tell me what will have to change before you would make an offer. I am honestly interested in hearing your views.
To follow me on Twitter just click on the link to my ID: John_Corey
John
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