What are your thoughts about this Real Estate Market?

by  Mike Jacka  on  Wednesday, September 30, 2009

I was just talking with a close friend Robyn Thompson (The Queen of Rehabs) on a conference call last night with a bunch of students. And we got to talking about what kind of properties not to buy in today’s market and something she said made a lot of sense. She said she will not buy a small house right now.

While that makes sense, I had not put a lot of thought into it until last night. I have noticed a few things from buyers that told me that I should only be dealing with larger homes, but I hadn’t spent much time thinking about it. So I probed Robyn a little more about her philosophy towards buying larger homes and here is what we talked about.

First of all, because a lot of people are losing their jobs, they are starting small business and they are usually converting one of their bedrooms into a home office. And then I mention one other trend that I have been noticing. A lot of younger people that are losing their smaller homes to foreclosure and are being forced to move in with their parents or other relatives. And it doesn’t look like this is going to be a short term trend. I have talked to a lot of buyers recently that said that they are looking for a larger home because their sons, daughters and their spouses are moving in with them.

Also with the cost of elderly care and nursing homes, more and more people want to have their elderly parents live with them. There is yet another trend that Robyn Mentioned that I also agreed with and that is mother-in-law apartments are becoming more and more popular as a way to offset the cost of living.

These are just of few of the trends that Robyn and I have been seeing lately, and that is why Robyn is currently only buying 4 or 5 bedroom homes with plenty of space for multifamily and things look like this will last a long time.

What are your thoughts? I want to hear from you and together we all will be able to better prepare ourselves for the future.

Leave your Thoughts in the Comments Section just below this post.


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Comments

10/2/2009

Ryan@MnREIA.com

That's one of the things that I love about Robyn Thompson, she's like a bloodhound when it comes to sniffing out trends that most others miss out on because she is so involved in the business. One other idea to support the idea of going after larger houses is that it seems like there is a growing market for renters and with that increase in renters it gives home owners more opportunity to rent out a bedroom or two to help with the payments. The fact that there is a growth in the younger population looking to get into a new home offers another advantage because younger people or more used to living with other people and would be more open to pursue this option. Kudos :)

Ryan Johnson

2/18/2010

Jovitalarriuz148@yahoo.com

Magnificently done posting, if only all bloggers put up the same high quality content the net would be a good deal better place. Please continue to keep up the good work! Thanks.

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3/16/2010

Croshaw69@gmail.com

There is obviously far more to know about it as I expected. In my opinion you made a lot of good points in your post.

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7/22/2010

realtyinnovations@live.com

Great article, excellent advise and ideas as usual. Thanks Robyn Thompson and Mike!

Jackie

1/1/2011

teenacelis@gmail.com

I think it's good that Robyn Thompson is seeing for the future. He's looking forward that things would work on long term.

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4/21/2011

sethczerepak@gmail.com

This market is not the best, but it is not hopeless either.

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5/8/2011

sethczerepak@gmail.com

The world has really changed. People are sharing homes and starting to lose the American dream.

What to Invest In

8/1/2011

carothers_george@yahoo.com

With all the factors out there that cause the global recession, there is no doubt those incidents that you have cited are nothing but real. Therefore, when you are someone who is in this kind of situation, it is recommended that you make purchase of a larger house which has enough space to accommodate you and your loved ones.

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9/19/2011

stephenbook2@yahoo.com

We have been making money and marketing on-line for over a yr and also have uncovered it amazingly rewarding although also remaining eye opening. I would like to carry on on my journey and understand a lot more approaches and guidelines so I can turn into improved and more productive.

John

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