Can We Turn the Market Around??   Today we are all wondering whether this bailout will pass or not and what the implications are to our industry, I am confident that we can turn the market around.  While the bailout is an important step and likely to eventually pass in some form, there is so much that we in the Real Estate market can do to help get the ball rolling.  

Anyone that knows me, knows I am extremely optimistic.  I think this has to do with overcoming many obstacles in my life and realizing that no matter how bad it looks, I will survive.  The one secret that I have discovered is that an optimistic attitude and a positive approach to everything I do can overcome every obstacle that may come my way.   This is why I feel as though I am constantly preaching that we cannot allow all that is going on in our economy to shake us up and cause us to look at ourselves and our industry pessimistically.   There is always a light at the end of the tunnel and my belief is that if you can realize that and make that a part of your daily life, you will survive and succeed.  

What I am asking you now is to take my challenge.  Take some time to reinvent yourself.  Strike that negativity from your life.  Realize that while our industry is a more difficult place to make our income, we are the ones that have survived thus far and our rewards are coming.  

Home prices are excellent.  Interest rates are excellent.  While the ability to get a home loan has tightened up, there are still good solid buyers out there.  They need you to encourage them and show them that we can focus on all the turmoil if we want, but this is still an excellent time to buy a home.   For the move-up buyer, the benefits far outweigh the losses.  Just to use an example, let's say home prices are down 10% (I know this is not a correct figure, but it's easier for my example)  Your customer has a home for sale that was originally worth $100,000.  With the 10% drop in price, they will end up selling for $90,000.  In their mind, they have lost $10,000.  But, if they are purchasing a home that was worth $200,000, it's now selling for $180,000.  So, in actuality, they have gained $10,000 by buying now.  Hard to believe, but it's a better time to buy now than it was 3 years ago.  (you may need to re-read this, because I know you don't believe it)  

A while back I made this suggestion and I am going to make it again.  If you truly want to help get the ball rolling you will take my advice.  Here's what you do: Go to every one of your listings that is selling to buy another home.  Take them out and start showing them homes and encourage them to make an offer contingent on the sale of their home.  While just one Realtor doing this won't really won't do much, if every Realtor was to write at least one or two contingent offers, we may just be able to get that domino effect going and while the rest of the country is waiting on a bailout and the market to turn around, we could actually start our own turnaround.   Maybe this sounds too easy or maybe you don't see the point in it.  But, if you stop and analyze what I am saying, you will see that there is merit to this idea.  WE CAN TURN THIS MARKET AROUND!  

Have a positive week!  Please don't hesitate to call me with any questions or concerns.  Remember I offer conventional, FHA, VA, and Rural Housing loans.  Oh, and FHA is the ticket right now....our local area maximum loan amount is over $270,000!   jim