Buy Edmonton Real Estate in Uncertain Times - and Win!
Many people in Edmonton are choosing not to buy real estate right now due to the uncertain time we live in. The economy has changed, they feel less secure at their jobs, and they are scared the will buy a home and then become house poor because of a decrease in their home's value or because of restrictive payments. All of these concerns are legitimate, because they are what you are feeling; at the end of the day what is important is that you feel comfortable with whatever decision that you are making.
However, that does mean that the feeling is based in fact.
Buying and Selling is Good in Every Real Estate Market - Just Not For Everybody
Warren Buffet was quoted as saying "When people get greedy, get scared, but when people get scared, get greedy". This applies to many different aspects of business, and certainly applies to real estate as well.
Please remember this: In every real estate market, there are those who will prosper from it and those who will struggle within it. My experience in the Edmonton real estate market bears this to be true, because no matter what the market is doing, there are people buying and there are people selling. Whenever there is a downturn in the economy or the real estate market, those who are investing in real estate and those who are just starting out in real estate can do well. Scott McGillivray from HGTV Income Property fame shared recently shared a story at an Edmonton real estate workshop where he realized that every market can be profitable. His story documented how he decided to try buying real estate in an auction format after the great US real estate crash of 2008. He ended up attending his first auction - and he was the only one there! He ended up buying over 10 home for the price he budgeted to paying for only 1 or 2 that he liked. Now that's opportunity!
People will always be moving - because life happens. People get new jobs, get married, get divorced, have children, have children move out, retire, start a job - everything. It's life, and having a place to live is a key component of every life.
Real Estate Education Is Key - You Realtor is the Locksmith
Making sure that you are informed about what you would like to do is the most vital step you can take in any market. Being educated about the market often eliminates the fear and panic that comes from the unknown. This is where a Realtor can help. A good Realtor can help you with eliminating your fears and apprehensions by giving solid advice, great MLS® listings, statistics that show you market trends, and tips to let you know all the steps necessary as well as the order to take those steps in.
The first step is to contact your Edmonton real estate agent today and get the information ball rolling.