Plenty of factors figure into the state of the U.S. economy. When the economy crashed a few years ago, the housing market was largely blamed. Very slowly, we’ve been climbing out of this economic hole. The general public opinion of the recovering economy, however, is still mixed and hasn’t changed much from 2009. In a study by the Pew Research Center in February of this year, a reported 61% of Americans were hearing a mixture of good and bad news surrounding the U.S. economy and its recovery, 33% heard mostly bad news, and only 5% heard mostly good news.
It’s a tough time to buy a home. The real estate buying market has been unforgiving lately as home prices are on the rise. We have seen several cases in Dallas where properties are listed and shown multiple times within a 24-hour period and followed up with multiple bids.
As a real estate investor, standards are important. If you don’t know what your personal standards are for any given property or tenant, you may wind up with an investment that is more work than it’s worth. While we all have to maintain some degree of flexibility when it comes to our investments — after all, no property or person will ever meet your visions of perfection — there’s a time and place to draw a line in the sand and back away. You’ll save yourself a lot of money, stress and grief if you know what your real estate investment deal breakers are before you spring for that purchasing that property.