Kentucky Derby and betting on Real Estate

May 3, 2008

one of my favorite days of the year is the first Saturday in May. The ‘Run for the Roses’, the Kentucky Derby! The first leg of the ‘ Triple Crown ‘. horse racing

whether your a horse racing fan or not, almost everyone likes the pomp and circumstance, the fan fare surrounding the race.

Horses with names like, Secretariat, Seattle Slew, and Barbaro are in the media and horses are stars in pop culture.

And even if you are not a gambler, almost everyone has a favorite-year old.

My pick this year, Bob Black Jack, and its for no reason except I like the name (which seems to be a good way to pick),

As you know, I relate everything to real estate (others feel like this about Golf) and there is something to learn from the Derby.

The horse race is a sprint. Betting on a sprint is a gamble; anything can happen. However, real estate is not a sprint. Home buying never has been a race; if it is one, its a marathon.

Those who gambled, and invested , for short-term appreciation recently where on the wrong side of what was a bet (even educated) that the market would keep flying. We know the end of that story.

The last 100 years (marathon) of buying homes and investing in real estate has proven to be anything but a gamble. Home buying, is proven to be one of the most a valuable way for families to save, earn and invest with , overall, wild successful results.  In Greater Phoenix, Scottsdale and the towns in Maricopa County, returns have been some of the best in the Country.

The American dream has created so much wealth for so many Americans because we are taught by our parents to put away money every month, consistently over a long period of time (in 30-year and 15-year fixed mortgages.)

The old saying, those who don’t learn from their past, are doomed to repeat it, is all too appropriate today.

Buying Real estate - home ownership, should be thought of as a marathon; not a sprint, not a horse race, it is not a bet or gamble.

Bet $2 on Saturday on your favorite horse (name) or a friendly wager with a buddy. It it is a great way to participate in Americana.

However, don’t bet on your future.

Invest wisely and remember that home ownership is arguably the best way to create long-term value and Wealth with the short-term benefit of use.

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Copyright © 2008 By James Wexler, All Rights Reserved. *Kentucky Derby and betting on Real Estate*

Contact James Wexler (480) 221-8080 for all your Phoenix Scottsdale area Real Estate needs.

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Written by James Wexler · Filed Under Articles, Buyers, Investing 

Comments

One Response to “Kentucky Derby and betting on Real Estate”

  1. Pam Dent on June 10th, 2008 5:53 am

    You know the saying “never bet on a sure thing”. There are no sure things in horse racing; they are living animals and as such are unpredictable. The real estate market can be volatile, but homes buying can be based on facts that you can weigh and make decisions based on.

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