A message from Steve Morris, Founder & CEO of Exit Realty Corp. International from The Exit Recruiter Volume 10 Issue 4:
"Timing is everything. Knowing precisely what to do next in order to progress and succeed is the mark of great leadership. It's also the prerequisite of a sound investment strategy.
At some point in 2009 the bottom of the real estate market will be established and formally announced. I suggest that perfect timing for this would be the end of June. This all-encompassing "line in the sand" would be drawn, of course, as a result of relentless compromise between lenders and borrowers who have heretofore frenzied furiously in the sub prime aftermath. In either case the resident, tenant, customer and client will stop looking down once this stand is taken. Give pause, everyone will then begin looking up.
It goes without saying that when you're sitting on the bottom of a garbage can, there's only one place you can look, and that's up. Then, from the standpoint of strategic initiative, we're all faced with the premise that it's always smartest to buy real estate when it looks its lousiest. Well, come June, just how lousy does it all look? Then again, where is the money going to come from if you did want to buy?
It's true that the lending institutions have flip-flopped from a precariously loose giveaway mode, to a very rigid, unyielding resistance concerning the borrowing public. There's no question taht by mid Spring it will become obvious that their money is not making money and flexibility and availability will revive. This being true, opportunities for investment will abound come the summer and those in the know will seize them.
Chances are that the real estate you buy in the first half of this year will look like fabulous investments three to five years from now. Our directive is to buy in the Spring and wear diamonds. Timins is everything. After all, it's darkest just before dawn. Then a new day begins!"
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