Average housing prices over the next 3 months

[Nicholas Weckstein]

So I wanted to take a dive into what we as investors, are thinking about the current state of the market. But more importantly which direction it is going. Is now a time to buy or not?

would love to hear what other multi unit investors are doing. 

ill start...

Personally I feel that right now is NOT the time to buy. As bad as I want to get my liquid money into cash flowing asset based debts, the market is too shaky to make a good buy. Right before this started, at least in my market. It was  extremely hot. Over night the whole industry got turned off. When things start to turn back on, many owners will list or relist their properties at what they wanted right before this happened. Those prices just won't be current with the new reality. It is simple trickle down economics. Most owners will take some time to come off the high of what they thought their buildings were worth. 

My strategy is to wait this out and reassess the market in 3-6 months time. Many investors agree we are going to see prices come down. while there may be some type of urgency to buy based on how difficult buying has become. I believe the smart move would be to remain patient and take advantage of the coming economic down turn. 

Even with the rates being SO LOW. it doesn't make sense to over pay on the total price just to get a low apr. Id rather pay 25% less than top of the market prices, but pay multiple rate points higher on a good deal. Than to over pay on a building I bought with money that I got for next to nothing. 

Curious what others are thinking? how are you preparing?