Wow, the stock market dropped 4% yesterday.

Stock market values affect real estate values, even though not directly.

It has been my experience that people buy when they feel good about their investments and are more cautious when they do not feel good about their investments.  7 out of the last 8 days the stock market has dropped and there was another big drop yesterday.  This probably means that now is a pretty good time to buy.

I wrote an article once “When will history really teach us a lesson” – in this article I talked about how the people who bought in 1991 when every single indicator said not to buy real estate, are the people who came out big winners.  I think those indicators are here today meaning it is a great time to buy.

Consumer confidence is a funny thing.  When consumers do not have confidence in the economy, the economy slows down and real estate prices drop.  We have some unbelievable real estate deals today and now might be a good time to shop around.

I recently had a prospect tell me that he thought the market had not bottomed out and he thinks it will bottom out in 6 months.  I told him that he was probably right, but the problem is that he is not buying a mutual fund of real estate – you are buying one specific property. 

There are some great deals available – take advantage of them!