A new administration moved in promising new jobs. Guess what? That often means bureaucratic jobs in government, right?
Those new people need a place to live, of course.
Washington Post real estate columnist Elizabeth Razzi gives us some good insight about what’s going on in that market.
She also tells one of the absolute golden buyers’ secrets.
“It’s going to be life events… job changes, retirement, hard times, etc.”
What she is referring to is why people move, or why homeowners will be forced to sell often below market value.
This is huge because a lot of investors seem to miss it.
It’s also funny because one of the rather stupid questions some first time homebuyers asked her was why they were being constantly outbid on every property they have been bidding for.
Some buyers really need some better brain cells.
Another important point Razzi brings out that we should never forget is that real estate is local. Just because one area is going up or down doesn’t mean the whole country is.