Tuesday, May 26, 2009

TODAY SHOW REAL ESTATE EXPERT CALLS DENVER NATION'S BEST MARKET

Today show real estate "expert" Barbara Corcoran picked Denver as the number one market to lead a real estate recovery in the United States.

I have seen this blogged about everywhere, and people seem excited.

I'm going to take a more reserved approach - it's good news, for sure, but I have always advised my clients to make purchases based on fundamentals, not the hope for future appreciation.

Real estate investors make their money going into a deal, not getting out of it.

First-time buyers are getting discounted prices and low interest rates, but I wouldn't buy a house just because of those two things. The neighborhood has to work. The home has to be a good value. There needs to be upside in the deal, because too many buyers ignore exit strategy when they purchase a home.

Do not ignore exit strategy.

Having said that, here's the video from the Today show:


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