Is it confusing why people in Orange County are staying longer in their houses vs. most real estate cycles? Logic dictates that if you have an appreciating asset you probably will hold onto it. Even if you move, you might be more likely to not sell the house or condo you just moved from.
In 2016, I was talking to a really great agent who owned a property in Long Beach by the Queen Mary, and discovered that he was able to net a handsome return on the property by renting it out on the Air B and B platforms. He was a homeowner who actually rented elsewhere and made a choice to take advantage of the opportunity.
Anything wrong with this? Of course not. It is capitalism pure and simple – provided all local, state and federal laws and regulations are being met. And in this case – it certainly shaped up that this truly professional person was operating completely transparently and was being smart about his money while building wealth.
Some 35 years ago, I started to counsel agents and clients on wealth building – with many of them doing quite well – buying one property a year for many years during the mid to late 80’s. Today, those properties which are still held by some of the same people, are worth many times what they paid for them.
The issue is not WHETHER people will sell or not. It’s about When.
We all have a definitive time stamp that limits the number of days we enjoy life’s experiences. We don’t typically get to choose when the exit ramp is upon us, but in the meantime we have the ability, capability and maybe even to go so far as the obligation, to make housing an important part of our life’s journey.
We are experienced at putting together plans, both short-term and long-term, to help you make the right choices. It is not our place to make the decisions for you, however, we can be the voice of reason in the calm, or the perfect storm, depending on where your life is at the moment.
When the time is right, let us know, and we’ll be happy to create a partnership plan for your consideration, whether you are an agent/broker associate looking to grow your business or a client/customer looking to buy, lease or sell a property, or simply would like another opinion.
When it comes to real estate, not all companies are created equal. Blake Vartanian, as Chairman, along with his wife, Joanne Vartanian (CEO and President), and their Executive Team; Mary Walters (Chief Operating Officer), Barbara Wayne (Broker of Record), Realty Pro 100℠ has the foundation to support your hospitality focused real estate experience through our dynamic sales team.