[Savage Rider]

Hold on to your current house if you own it. If you have cash, buy real estate being sold at a distressed price. Real estate in growing markets is cyclical. Buy at the low point.

[nascarnation]

Excellent post.

[alexander_busek]

Buy at the low point.

And sell high?

Thanks for the "insider information!"

Regards,

[Dilbert San Diego]

But how do you know when the low Point has been reached?

[Veto!]

Good advice.

My daughter and SIL sold their house while market was at the top. Paid $50k for a bank repo on ten gorgeous. wooded acres. Remodeled to double the size with inherited money, put in brand new top-of-the-line kitchen new deck, new floors with more inherited money. Put on the market for $610,000 and sold it in two days for $620,000- to a young family from Seattle getting away from the madness.

Sounds like a win-win to me.

[Svartalfiar]

Hold on to your current house if you own it. If you have cash, buy real estate being sold at a distressed price. Real estate in growing markets is cyclical. Buy at the low point.

That depends on what you're doing. For regular people, not investors, if you want to move up, then yea, you want to buy in the crashiest crash possible. But if you're downsizing, you want to move when prices are as high as possible.

[Tunehead54]

Buy at the low point.

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Right. I had equity, down payment cash ready to buy a fixer in 2011 when the RE mkt finally stopped dropping but everything was gone in 5 minutes in Florida.

Firms/People with real cash/cash. No bargaining, no time. Now they're all rentals, the owner has a 3% loan and the renters are paying up the rear end.

Owners (the cash guys) have triple their mortgage monthly. They'd get a fixer, paint it, put in a new sink, maybe some carpet to hide the stains, a couple plants out front, etc. ...

Sigh.