by Christopher Schuh (1996)
Schuh Real Estate, Lake George
The short lived trends of the 80’s, drastic appreciation coupled with wild speculation, has taken a more mild approach in the 90’s.
After a drop in values in the late 80’s, including fallen interest rates, property values have begun to stabilize in the North Country.
Astute buyers, former 80’s sellers, are out realizing the no w upside of a former downside market and taking advantage of the property values and mortgage rates, which are at an all time low, to rebuild their property portfolios.
The investor can no longer just realize appreciation. Cash flow for the management of these investment properties may be taking “paper” loss compared to the 80’s buying and selling, and the 80’s penchant for appreciation.
The buyer is seeking a solid value for these purchases. Well thought out purchasing decisions now, can reward the buyer with returns not found in other investments.
So, now is the time to buy or sell?
This is the question’s and answer is no longer simple. Competent advise from a Realtor specializing in the type of property you are concerned with is your best answer. Owners of multiple commercial properties have historically utilized the trusted advise of their attorneys, accountants, and Real Estate Brokers.
Residential buyers have the same advantages by hiring and utilizing the services of buyer brokers in assisting the decision to purchase whether it be a first home, resort home, multi-family or commercial.
Am I getting a fair deal? Is the property adequate for my needs? And the other mountains of questions that need to be answered, can be, with the assistance of my Realtor.
So with mortgage rates low, property values slowly rising and proper representation, buying and selling real estate of all types can be enjoyable and profitable even in the 90’s.