How many times have we driven past a particular property and thought to ourselves “I could have bought that for $100,000 a couple of years ago, and now it’s worth over half a million!” ? or “If only I’d have made the decision to buy that home, I’d now be sat on a chunk of equity.” ?
It’s amusing and amazing to see how many people hunt in packs, or to be less kind, act like sheep and blindly follow the leader. Since economies first began, there has always been one golden rule to acheiving the Midas touch: buy low and sell high!
So why are most people still sat on the fence waiting for the housing market to rebound? Scientists tell us that the definition of insanity is following a repeated pattern and expecting a different outcome. So why do we wait for house prices to sky-rocket before we buy, then complain we overpaid? Or wait and wait and wait, and then feel cheated because we missed the boat?
The other day I listened to an inteview with real estate guru, Donald Trump. We can all ridicule his hair style, but nobody can argue that he’s a genius when it comes to real estate investing. He said that for at least a year before the last peak in real estate, he begged anyone who would listen, to sell, sell, sell! Since the beginning of this year, he’s been urging people to buy, buy, buy! And Donald doesn’t say “do as I say, not as I do”… he’s been buying real estate like crazy, and putting his money where his mouth is. Does he know something we don’t know? No…he has the same information available to everyone. It’s just that most of us go through life oblivious to opportunities, even when they’re thick on the ground.
So come on people, wake up to reality and stop following the herd. Don’t say “I could have / should have / would have”… instead say “I did!!!”.
September 9, 2008 at 10:28 am
I can say “I did”. I just bought a new home in Southern Highlands and I’m thrilled to bits. I got a great deal, so no regrets.