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I was having a discussion the other day with my business associate and friend, Dan Garcia. He’s a real estate investor in Plainfield, and we’ve invested in Plainfield real estate together for the past 3 years. The other day I said something that started an interesting conversation, and made me think of the real estate market in Plainfield in an entirely different way.

I said to Dan, “It’s horrible how much money people are losing on their homes in this market. I can’t believe how much money we’ve already lost this past year…” to which he replied, “Really? How much money have you lost on your house this year?”

I thought about it, and was surprised by my own answer. The truth is… I haven’t lost a single red cent.  I didn’t sell my house, and it’s impossible to lose money that you never really had.  Plainfield home values are based on real-time data. 

Dan then clarified to me, that the only people losing money in this market are the one’s who bought high (given the rate of appreciation) and sold low. He said, “It’s just like the stock market. If you have stocks that were worth a lot of money and the market crashes at the time you chose to sell… you’re going to lose money. If the market crashes and you hold out for the market to improve, you haven’t lost anything at all.”

Hmmmmm. Food for thought, from the guy who taught me a lot of what I know.  Despite all of the gloom and doom in the media right now about real estate, it really is a great time to buy and sell real estate.

Do you want to know what your Plainfield home is worth right now?  Call me at 630-673-6233 to find out!