Quote of the Day: Keep it for five years

CS: When do you think housing prices are going to start climbing again?

Sean Conlon: Given the nature of the world right now that would be impossible for me to predict. But I’ll tell you this: I’ve never had a home that I’ve owned more than five years that I didn’t make money on. But that’s where we lost sight of it: People started to make more money in six months or a year than they ever thought was possible flipping houses; that’s where everybody got caught. But any home I’ve ever owned for five years I’ve made a lot of money on. And enjoyed living in it. I think that philosophy will hold perpetually.

– Sean Conlon, former owner of Century 21 Sussex & Reilly and current owner of Conlon: A Real Estate Company, offering a bit of insight into his real estate philosophy in the August issue of CS Magazine.

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