I know that this song can get on your nerves after awhile, but we have to be
reminded, don't worry, be happy!
The real estate market is still down in many areas in the USA, but it will
change. Consumer confidence is the key to the recovery. I am seeing many
buyers and investors waiting for the bottom to hit. The news media has been
bashing the real estate housing market and especially the sub-prime lenders. The
sub-prime lenders have been going out of business.
The last numbers I looked up, there were 182 sub-prime lenders out of
business. You can check this out yourself on
http://ml-implode.com/ to see what is happening with the mortgage lenders.
These lender/banks have hurt the real estate market because it has caused the
current credit crunch and the bad loan defaults. The good thing out of all of
this is that buyers are now really being qualified to be able to afford the loan
they are getting. There are less buyer due to loan situation which has caused
the prices to continue to go down in value. The biggest adjustable rate
mortgage (ARM) interest adjustments will happen 1st and 2nd quarter of 2008 and
we will probably see more foreclosures because of it.
The game is called "Last Man Standing", it is a game you might have played in
school. Who ever can survive the market will come out on top. That
means the sellers, buyers, investors, agents, and anyone in real estate or
affected by the market will win. It is unfortunate for some, but that is
how the game is played. The good news is that people just need to take the
time to get prepped and ready for the next game (market). What a country!
It is a country where you get second chances.
Learn what you did wrong the last the game and make sure you don't do it again!
So, whether you are a winner or loser in this market, don't worry be happy!
