Years ago, when I first got out of highschool, I worked in a financial services company and held my series 6 and 63 licenses for mutual fund investments. A great accomplishment for an 18 year old… unfortunately, 9/11 happened at the same time.

Although I was young, I felt I had a firm grasp on the principles of investing. The age old adage is buy low and sell high… I felt as though I had timed the market perfectly! The market was low, I thought for sure that everyone would be buying. Imagine my disappointment when I found it nearly impossible to get anyone to invest.

That experience taught me a lot. Mostly, that common sense goes out the window when coupled with emotion. Logically, we understand the buy low, sell high principle. Emotionally, it is much rarer to see individuals actually pull the trigger in a market that is tumbling.

I see a lot of similarities between the current real estate market in Las Vegas right now and the market “corrections” of yesteryear. In hindsight, we can look back at the surging real estate market and see that the time to be bearish on real estate was 2006. How many people are going to look back in 5 years and have the sudden realization that the time to get bullish on real estate was 2010/2011?