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My grandfather went through the stock market crash of 1929 and would put me on his lap as a young boy and tell me about people with money buying things for pennies on the dollar. I am not sure why that stuck in my mind but it did.

I don’t believe we are headed for another great depression, (let’s hope not) but the real estate market is definitely struggling at the moment due to the mortgage crisis, the falling value of the dollar, gas prices going out the roof and general uncertainty in the world in general.

The good news is that if you have money and/or good credit, this is a fabulous times to buy real estate. There are far more properties for sale then buyers so prices come down in a buyer’s market. I realize that what this means is that many people will profit from the misery of others but that’s life when times slow down and get tough. There is always someone waiting to take advantage. As they say, buy low and sell high.

It was not too long ago when there were more buyers then sellers. That drove prices up and many that bought in early made a profit. That’s how the market works. Nothing lasts forever and the down market we are in today will once again recover. Those that bought in low now will make a lot of money when the market turns back around.

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I am not a real estate expert so I won’t pretend to know if the market has hit bottom yet or not.
Timing the market is hard to do. However, my sense is that there are great buys to be had now even if the market continues to dip because once it comes back it will most likely exceed the past higher prices. Buy now and then be patient. Time will tell if that is a good decision or not.