We are starting to see more opportunities here in Ohio, particularly as investment opportunities come and go rather quickly as buyers choose to pull the trigger when opportunity strikes rather than wait.
As I noted in some earlier posts, better properties -- properly priced -- are now coming to market and are being scooped up. We are seeing listings come to market and go into contract either on the same day or that same week. That is good news. Which leaves those investors who want to sit and analyze for weeks and weeks unable to get into the game. But then that's their choice.
They might say "I lost out on an opportunity." I would suggest that, no, you can't lose something you never had. Good analysis is fine, but "analysis paralysis" will get you nowhere. So will waiting for "the next even better deal" to come along.
Thankfully, it's not just here that improvement is occurring. In southwest Florida, particularly in the Naples-Bonita Springs-Fort Myers corridor, fundamentals are improving also. Good friend and trusted colleague Garren Grup of John R. Wood Realtors notes in conversations we have had the past few weeks that parts of the market there seem to have bottomed out. In case you didnt' know, there is a strong connection between the Midwest USA and SW Florida, as the "snowbird" population in Lee and Collier Counties is heavy with investors from Ohio, Indiana, Michigan, Illinois and Wisconsin.
Garren recently wrote me the following, and it is so worth pondering: "The market here seems to be on a good roll now that season is rolling to an end and many have lost the best deal for failure to execute."
Truer words were never spoken. I am not advocating blindly jumping into the fray. But with wise counsel from a qualified commercial/investment agent, and a solid knowledge of market conditions, when opportunities arise buyers must strike quickly (and smartly) or they will never get in. Particularly now.
Thoughts on a stormy, rainy Ohio day...