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Monday, December 22, 2014
Why would anyone buy recreational property this time of year?
We have hit the first official day of winter. Some forecasters say that it is going to be a warm winter, while others say that it is going to be a long cold winter. I guess one of them will be right, or at least pretty close. So why would ANYONE consider purchasing a recreational property during the winter? Or purchase while the market is so soft, period. Only crazy people with more money than brains, right? Well, let's look at what history shows us. More millionaires were created during the great depression than in any other period in history. I am not saying that you have to be millionaire to buy now. What I am saying is, those people bought while everyone else was holding back, or had no money at all. The people that came out on top bucked the trends and went ahead with investing, in such things as real estate, while there prices were low and there was very little competition, if any. Then, when the markets eventually turned around, these people who had made investments at such a low cost, saw their stock rise! Buy low, sell high - is that now what we have all heard about? Something to ponder. I have experienced this during a couple of cycles in the local market. Once, I timed it right and did very well. The second time, well, I got cocky and missed out. So why would anyone buy a recreational property this time of year? Wide range of selection. Very little competition. Low prices. The end.
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