The real estate market is improving there as the new report comes back to us from the Curbed:The Hamptons. Buyers are getting serious and are making offers. The going discount is reputed to be 30 percent off retail.
I’d say, if you’ve got the cash make it happen.
Some folks are getting some pretty good deals and some are even moving ocean-ward. (That’s where you want to be in The Hamptons. Beach-front, of course. )
Our guess is that it’s going to get even better in the future.
Curbed Hamptons also gives us a very brief history lesson of the last real estate bust that took place in the late 80’s, reaching the bottom in 1990-1991.
It’s worth reading.
Those of us who were around back then remember it well.
Moral of the story? Real estate came back to peak again in 2005-2007.
So where does that leave us now?
I believe it will come back. I am also predicting some sort of inflation in the next few years which will make our real estate investments even better.
What do I base that on? History.
The main thing I believe is that history repeats itself and real estate moves in cycles. You just need to get on the right side of the cycle.
Here’s another intersting side note.
You may have already read this news story about the catfish living in the swimming pools of foreclosed homes in L.A.
Apparently it’s true.
They are using this feline fish to clean the pools of algae and what not.
And it’s working.
One thing to remember , catfish can live a long time and can grow to be huge. At least they can in Tennessee and Alabama.
Don’t forget about them…