Opportunity Knocks (Coulda, Woulda, Shoulda)
I recently heard Donald Trump being interviewed. "The Donald" indicated that some of the worst real estate deals he ever made... were those properties he did not buy. He noted that regardless of price...the value of property almost always goes up.
That being said, and with low interest rates... it's a great time to buy an office site.
Many communities over the past few years have been overbuilt. Economic concerns surrounding sub prime mortgages and the possible dreaded "R" word have caused the Federal Reserve to cut lending rates significantly... making for a terrific buyer's market.
While we've all heard that your home may be your greatest asset... the same can be true of an office location. Rather than paying rent, those same tax deductible dollars, can be spent on the purchase of a property, which over time should appreciate.
Additionally, a practice which has been in the same location for years, will be more valuable than one which has moved about and is subject to tenancy.
Don't forget the 3 keys to real estate... location, location, location... and it's a great time to buy!!!
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So true, Dr. Wolfson. I think most markets in the country is experiencing a buyers market. Good time to sieze an opportunity!
Posted by: Mike Whitmer | October 27, 2007 at 07:58 AM
I agree too, however, use caution--see my blog post on this subject--- if the location isn't good, and the demographics don't match your goals/objectives, it could be a disaster! Also be sure you don't purchase too MUCH space..remember, double the space is twice the space to make the same mistakes! CV
Posted by: Carla Vincent | October 27, 2007 at 02:52 PM