Hello all! I have , just like all of you, been watching the dismal news for weeks now and wondering when will things turn around. Well kids, the simple answer is that noone ( I mean, no one knows for certain and if they tell you they do, they are lying). With Cramer on The Today Show telling everyone to pull out of their money out of the stock market if they plan to use it in the next five years, sheer panic has set in and set in hard.  I get it. I am nervous too. What I don't get is this, the phenomenon of buyers who just a week or two ago were ready, willing and able are now chickening out of buying in what could be the best bargain real estate market in history!

   I have had two buyers bail on me this week due to fear of what is to come. These are both folks with no house to sell before they bought. These are both folks who were looking to get into low, fixed rate loans with reputable lenders and with payments about the same as they are currently paying for rent. These are both buyers that qualify for the $7500.00 tax credit for  first timers. These are both folks with jobs that are recession/depression proof. What makes sense about not buying now if the house is priced 15% under current market value and all of the above is true? I'll tell you , NOTHING!!!

    If the homes were tennis shoes at the mall, they would be speeding to get there to pick them up before someone else got then first! REAL ESTATE IS ON SALE! Interest rates may not be this low long or ever again.The tax credit runs out in the Spring and the ability to walk into built in equity is the key to building long term wealth. Maybe we all need to consult with our Grandparents or Great grands if they are still alive and see what they say. I know mine always spoke of the equity she built into her home as her "extra" nest egg. It was too, she bought at the right time years ago at $130,000.00  with a  low fixed rate ( in the early 80's, 8% was low) and paid it off in 15 years  and then sold in 2005 for $214,000.00. You do the math, Granny's extra nest egg turned out be laid by the golden hen!

    This is money that will enable her to have a great style of life throughout her golden years and will be there so that her other investments can be left as a legacy to her children and, if I am a sweet grand daughter, her grandchildren too. I am hopeful for the future of or nation and our world, but we all have to cut out the panic behavior or the doom and gloom on the news will become a self fulfilling prophecy of catastrophic proportions. Do, live within or below your means, but think about tomorrow as well and plan to purchase your own golden hen so you can leave a little nest egg of your own to your loved ones. Sounds like they are going to need it!

To ask CJ a question or voice a concern, feel free to email me at cj.hodges@gmail.com, visit me on Facebook or call 334-233-5848 in Montgomery Alabama