Real Estate: As A Long Term Investment
In real estate, it’s more important to have time in the market rather than trying to time the market.
Recently talking with one of our past clients, a gentleman named Ed, he told us an amazing story of how in the 1970’s he was told about Bend and the neighborhood of Deschutes Riverwoods in particular. Ed was not very familiar with Bend but this friend suggested he purchase one of these bare lots which were for sale for $500 each. Now, Ed was a young guy and this was a lot of money for him at the time plus Deschutes Riverwoords in the 70’s was not exactly a highly sought after neighborhood. But Ed made the brave decision to purchase 2 of these lots at $500 each with seller carried financing of $25 down and $25 per month. Well, Ed eventually paid off these lots and over the years purchased 8 more on the same street where he eventually built homes turning some into rentals and others he sold as spec homes. That $1000 investment was a major component in the wealth he built over the next 45 years.
The point of the story is yes there are peaks and valleys in Real Estate but owning Real Estate long term is proven in history to be great investment. It’s impossible to time any market or predict short term performance. The best time to buy a house is when YOU are ready. Never feel pressured to make a large purchase you’re not comfortable with but learn about your market so when the time is right for you, you’re an informed buyer.
The Central Oregon Real Estate market is a market that changes quickly. The Julie Moe & Jared Chase Group is one of Central Oregon’s top teams of Real Estate professionals. Let’s us be your Real Estate advisor to help you make informed decisions that take you to the next level.