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!
You are so right! And, the sooner we can get the bad stuff behind us the sooner we can move forward. Those who have losses on the books should just write them off and move on. They can always try to collect on the losses later, if possible, but the sooner we get the bad news and financial issues behind us the sooner we can begin recovering.
I am very busy. I love going behind "those" Realtors that blame their problems on the dead market. I just say that it may be dead for them but I am busy. Granted I am working harder than ever, but I am making things happen. I may need some Geritol before this is over.
William, thank you for posting your comments on this blog first! You and I are on the same page, let's keep going and the future looks bright for those of us who are working through this! Success comes to those who work at it!
Vicky, I love to hear the positive news like yours! You are a role model for the professionals who are working through the issues! I am busy too! People who are working will have success because people like to work with or use hard working people who get things done! Thanks for your comments!
Roberta, thanks for stopping by and commenting. The video did put a smile on face, also! I am ready for the next game, but I am still trying to win the current game! :o)
Who ever survives this round will take over market share! I have been preparing my associates and myself for this for the last couple of years. We are getting close.
Thanks again for commenting!
This blog was a follow-up from my previous blog on:
Ernie - Great message to share! Love that song. I hope you enter this in the Inspired by Song group and contest for November!! Checkit out if you haven't!! Fun post!
Candace, thank you for your comments! I will have to go check that contest out. I don't think I have joined that group yet. Thanks for your help and encouragement!
Do join, the contest has some amazing entries thus far and you gain by just entering onto of 200 points for posting this post. I also will be adding you to the Week in Review this week that will be published tomorrow!
Candace, I made the changes to comply with the rules for the contest. If I am missing anything please let me know. Thanks again for your encouragement!
I actually really like this song...do...dododododododo..dodododo...dododododo. I totally agree with you...those who make it through the storm will be happy they held on. Blessings!
My husband set up my laundry room with some cool dry erase boards, organizers, stuff we picked up from Costco. He left initials DWBH on one of the boards. He said it was his personal message to me, mom of 4! Well, can you guess what it was?! It took me days to figure it out. Hint - the title of your blog! So, I'm particularly fond of your entry!
Simon, thank you for commenting. I read your profile and here is an advance congratulations on becoming a US citizen! Don't worry be happy, have a good one!
Just as an update, it looks like there has now been 186 lenders who have closed down their operations, today. I guess we are on the home stretch in this game. DWBH
I think some of those lenders deserve what they got. So many people got into loans that they could not afford. I believe many deserve what they are getting too. The banks were the once who were giving away free money for many years without truly checking to see if those same buyers could really make the payment. I am glad however that the market slowed down and have continued to go down. My wife and I now have a chance to buy a home. Thank you for providing this information.
Randal, I understand your feelings and it is justified with some of them. The real estate market will correct itself, it does this every 6-7 years. The market has already adjusted and it is now the time for first time home buyers to get in the game not to mention investors. I have been very busy these last two months with many clients getting in this market. Where are you from Randal?
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