The Future of Real Estate |
The Future Of Real Estate by Mark Whistler
Interview segment with Jeff Gurnari /January 2009
Without a doubt, Suze Orman is one smart cookie, well versed in matters of personal finance. Some may remember her email segment with Jeff Gurnari, the stage director-turned-email-editor "sidekick". Now Gurnari has embarked on another path (though he is still keeping his feet wet at Fox News Network and Fox Business Channel, stage directing such shows as "The O’Reilly Factor", "Geraldo at Large" and "Hannity and Combs". Here, Gurnari provides readers with information on why he is making the transition into real estate and what he sees within markets for the months and years to come.
Second Half Of 2009 Could See Stabilization
With all of the aforementioned in mind, it's obvious that real estate has taken a massive hit, with many unfortunate homeowners having fallen victim to foreclosure. While recovery won't happen right away, the second half of 2009 could see stabilization within housing markets and perhaps even the first seeds of recovery break ground into daylight.
Going back to Gurnari, we now gain some additional "expert insights" into what we might expect from housing.
What Jeff Sees Within Real Estate
It is important to note that Gurnari primarily sells real estate in New Jersey and New York, which have both been reasonably more resilient than other markets like Los Angeles and Las Vegas. According to the NAR Metro Housing Prices Report, New York prices declined a mere 5 percent compared to double-digit declines in other major cities. Commenting on New York's resilience, Gurnari said, "New York still draws people from all corners of the globe and is considered, by many and for a wide variety of reasons, to be the world's greatest city. The tri-state area (New York, New Jersey and Connecticut), as a whole, has proven to be a solid real estate investment."
Given that Gurnari left the Orman show for real estate, one has to wonder if the move was purely motivated by the amazing opportunity at hand within real estate. Specifically inquiring as to whether Gurnari sees recovery in 2009, he said, "I felt this was a great time to enter the real estate game, the perfect time to educate and ready myself for that, hopefully sooner than later, market turn-around ... a positive change in direction is inevitable … 12 to 18 months at the most!"
Looking at the nation overall, Gurnari said, "Depressed areas may not recover fully and we may not see a 'boom' as of the recent past, but homeowners will once again gain confidence in real estate."
How To Position To Profit From A Recovery
Finally, when I asked Gurnari how consumers would best position themselves to profit if a larger real estate recovery does ensue, he replied, "Patience…When it comes to making money, the real estate market always favors one side. Sometimes it favors the seller and other times the buyer. If and when you find yourself on that 'favorable side', be patient, do your homework and take advantage when the timing is right for you. Overall, investment properties, i.e. multi-family homes/rental properties, are key to longterm stability."
Link to the full article: http://community.investopedia.com/news/ia/2009/the-future-of-real-estate-in-america-fri-fty-rwr0106.aspx
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