Buy low, sell high applies to real estate

Many people in Charlotte and around the country are realizing that there are opportunities to be had in Real Estate.  It’s funny that so many folks seem to forget the old adage buy low-sell high!   It applies in stocks, real estate, or whatever.  We had two of our clients (see featured article from the Charlotte Observer) who took advantage of a seller who was willing to sell the house below market value in order to get their equity out.  Our clients will have to put in some cosmetic repairs and spruce the place up, but at the end of the day they were able to buy the house cheaper than most of their neighbors.  With solid schools and a great location this was a great opportunity.  Many people are beginning to ask themselves how long will these deals remain on the table from motivated sellers and homebuilders looking to get rid of excess inventory.  Centex homes recently had a one weekend blowout event to reduce the inventory of completed homes.  It worked and they have a much smaller number of available homes and their prices have been restored to the previous levels.  If you didn’t buy that weekend you might have missed an opportunity.  I don’t have a crystal ball – if I did I would be in Vegas knowing when to bet it all on black 17 – but I do know that the way to make money in America still involves the concept of buy low-sell high.