Yesterday I spent the afternoon looking at apartment complexes with one of my original clients. He is an elder gentleman who will remain nameless because he is well known within the real estate community.

We were discussing the current market conditions for residential sales. He simply began to shake his head and wave his hands in disgust saying, “I don’t understand why more people aren’t buying homes.” I countered with the current credit crunch… he gave me a look that said if you were my grandson I would slap you upside the head.

His advice and he told me to put this on my computer, meaning the Blog, is that if you can afford to buy a home right now do it! He literally said, “to hell with what might happen in the next year… you can’t time markets… if you are going to live in that home for more than five years you will be very thankful!”

Now, he is doing the same as an investor. Apartments, Retail Centers, Office Parks, he wants to see it all because he feels the timing is right. I reminded him that commercial real estate is different and he reminded me that I was busy playing with GI Joe’s the last time this opportunity occurred (early 80’s - due to the change in the tax code) when he was on a buying frenzy.

His simple - yet highly profitable advice - by now! Smile and Wait.

Filed under: Boston Home Buying Tips