“I buy when other people are selling.” – J. Paul Getty
Jean Paul Getty, an American industrialist and founder of Getty Oil company, was named by Fortune magazine as the richest living American in 1966, so he had to know a few things about making money. The above quote could also pertain to the ample amount of opportunities that exist in today’s real estate market as banks continue to aggressively move real estate assets off their balance sheets. Despite historically low interest rates and tremendous amounts of cash still remaining on the sidelines many are still hesitant to pull the trigger due to stagnant job growth, volatility in the stock market, lack of confidence in our government, and the European financial crisis that continues to loom over the entire world. Could real estate values continue to fall? Absolutely. But are the buying opportunities that exist today too good to pass up? We believe they are and we plan to continue aggressively acquiring property and encouraging our clients to acquire the investment properties or primary residences they have been seeking while these buying opportunities are still available.
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