Everybody wants to be a psychic! Unfortunately in real estate there is no crystal ball and if there was I would be rich! Agents like to tell their clients that this is a "Bad" time to buy a home, or that the market has hit is peak and is "Going Down" YIKES how do they know that? I know I can't predict the future or, like I said, I would be rich! Some people say that the real estate market goes in cycles, which last around 7-10 years, from the bottom of the market to the peak. The government seems to think we hit our bottom in 2008 which would mean that the market will continue to climb for another three years. However, the real estate community wonders if, possibly, we didn't hit our bottom until 2011, which would mean that we are at our peak now...The truth is that no one really knows what is going to happen! We could see a more significant rise, the market could crash, there could be a dip and the market could regain momentum...all we know for certain is that the market is completely unpredictable! There are so many buyers out there that are trying to time the market, so that they can buy a home, keep it for a short time while the value appreciates, then sell it for a profit and that practice in today's market is like gambling because we just have no idea what could happen. If a buyer is going to invest in a property then they need to plan on holding on to it for awhile! Patience is really the key in the real estate market.
