I know. I know.  You are wondering why I have a title called Michigan.  Well the reason is I added a link to an article that was written on September 11, 2007 that was titled Massive Motown Forelcosure Auction to show how bad other areas of the country were compared to Hawaii.  Well, when things seem really bad (and the national news seems pretty pessimistic) there always seems to be a time when Buyers step back into the market. 

I just found an article that is published now (6 months later) regarding Michigan that shows buyers stepping back into the market.

What is my point? Two things. 

1.  When things seem really bad in the real estate market, the bad doesn’t usually last for long.  Bad for those that are stuck in difficult positions seem like it will never get better, but for others it looks like a great opportunity (even buying in Michigan)

2. Don’t ever try to time the market.  I was recently asked:

“With this market, I’m thinking of holding off on my home purchase for awhile to see what the market does. I don’t want to buy a home and have it lose value. What do you think?”

***ANSWER:
A friend of mine sold two properties in 2003 and 2004 and we missed the peak by some 10%. Did we regret it?

Not at all.

Realistically, I don’t expect to time the market perfectly, buying at rock bottom and selling at the very top.

And if I can’t time it perfectly, with  years of experience as a Realtor, an investor and someone who follows the market closely daily, most people shouldn’t expect to…unless they’re smart AND lucky.

By the time you realize the market has bottomed, the market will be on the way up already and it won’t be a Buyer’s market anymore.

If you have a specific question, email me.  I would be glad to answer it.