The Club Mastermind Blog

Jan
15
2009
I Have To Admit... I Was Wrong!

Yes, you heard right - I'm going to eat some crow today. According to the Baltimore Sun (yes (can you believe it?), I am actually going to reference a newspaper):
 
The overall prices for all properties sold in our area in 2008 dropped 3%.  Just 3%!  If you haven't already, check out the article here.
 
Starting in late 2007 and early 2008, I was predicting between 5% and 10% drop over the course of 2008.  With tongue firmly in cheek, I'll say, "I don't know how I could have been so far off!"
 
So...in spite of everything we keep hearing... while the retail home sales market has been very different from 2004/2005, it does appear that it is still a viable market.
 
But then, from my experience coaching Club Members, I am really not surprised by The Sun’s report. I can see from my students experience that more deals are being accepted and sold more quickly, than we have seen in quite some time.
 
I am not going to sugarcoat our industry or our current market, but I am going to say this:
 
All real estate is local.  Who cares what California or Nevada are going through, if you don't invest there?  What counts is what is happening in your market and, as an investor, how you respond to it in an ethical and profitable manner.
 
Oh... one more thought. It has been an extremely long, long time since I have seen the number of really good deals popping up everywhere.  All you have to do is know where they are popping up.
 
 
To Your Success in 2009.
 
Pete
 
P.S.: Want some help with finding out the places where those deals are, and success stories of how deals are getting done in this market? Come out to our 3-hour information session next Tuesday. Get more details at this site.
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