As 2008 has begun we (anyone interested in Real Estate) keep hearing doom and gloom when we tune into the news channels...OR we hear of a fruitful year if we listen to the NAR or any other advocates of THE Industry.  It depends on who you listen to, but always think for yourselves and do some of your own research, knowing that both sides have an agenda.  The Real Estate Industry is going to admit that 2007 was tough, but there are many signs that 2008 is a recovery year and many agents are going to post record numbers....AND vendors of the industry are going to try to pump up sales saying "you need us" to make this year better.  The media is going to say the sky is falling and many people will lose their homes (which may be true) and agents will starve and firms will go out of business and rates will be higher than ever and homes will start to depreciate and so on and so on (run on sentence). 

Here's the deal.  The NAR reports the facts as they gather it to keep a positive light on the situation for it's members.  The media seems to only report bad news, just look at your local news web page and count the positive headlines versus the negative...amazing isn't it?  Fear sells!!  Who is to blame...not the media, it's human nature to blame.  For some reason we love to hear bad news as we think it warns and prepares us at the same time.  The fact of the matter is that Real Estate is local and when people in my market read the headlines of other (bubble) markets, they automatically think we are doomed.  Some markets have had it rough, but things will get better.  The Raleigh/Durham market is actually very good, not as good as it has been, but a lot better than it has been.....get it.....things change and you have to roll with it whether you are an agent, homeowner and/or investor. 

The only real problem our market has had in the past year or so is clients are having a hard time selling their homes in certain other markets.  Other than that, rates are still low and the appreciation rate is a safe 4-6%.  Our market has experienced healthy appreciation compared to others, but we have not and will not be facing depreciation like some media outlets have suggested.  Real Estate is still one of the safest investments you can make so don't let anyone tell you different.  For more information visit us here.