Realtors can provide you with
information about how the local market has performed historically, but they
can't predict what the market will do next month or next year.
Historically real estate has been a superb
long-term investment, and many people have created fortunes on short-term
investments in hot markets. If you are considering an investment in real
property, ask a Realtor whom you trust to help you work out your strategy.
Remember that the local market will be influenced by things beyond your control,
such as interest rates, economic trends, local employment opportunities, and the
demand for and availability of rental housing. All of these factors are subject
to change, so timing is crucial. A slow market can mean real values for buyers,
but a fast market could heat up for several years, pricing timid buyers out of
the market. Your Realtor can't predict the future, but he or she can help you
interpret the present.
