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When do the Big Boys Buy?

By
Real Estate Agent with Keller Williams Realty

January 11, 2008

Quick, tell me what business sector/industry this philosophy/wisdom belongs to...

"There are near-term challenges, but where there are challenges, there are always opportunities, we view this as a one-time opportunity."  

Ken Lewis of Bank of America was quoted saying this about the buyout of Countrywide Financial for $4,000,000,000 (that's $4 Billion...what a deal!) announced on Friday 1/11/08.

Bank of America and Countrywide executives were all smiles in announcing the deal.

Let's take a hint from the Big Boys, there are deals out there (in the Seattle real estate marketplace) to be had.  There are Opportunities where there are challenges!

Come on buyers!   Remember, real estate is a "cyclical market".  It wasn't so long ago that every decent house had multiple offers and the sale price had to be over asking price.

Real estate has two markets; A Seller's market and A Buyer's market.  Which market would you prefer to buy in?  Which market are the Big Boys buying in?

Wherever there are challenges, there are opportunities. 

If you are open to partaking in the opportunities, give us a call.  There are quite a few of them out there!

If you'd like to know what your home value is,  what homes are for sale, what their home prices are and what homes have sold for in your own neighborhood, check out our "Market Snapshot" tool; simply follow the directions below.  Go to our website www.KariAndJoe.com and look for the box on the right side that says "Market Snapshot".   Scroll down within that box to see a sample of what you will get for your own neighborhood.

 If you are a home buyer or a home seller in Seattle or Renton, we hope you will contact us to see how our "Home Selling System" will help you achieve your real estate needs; whether buying or selling! 

Additionally, we are able to provide quality referrals to Real Estate Professionals nationwide through our personal network nation-wide.  Send us an email now, and see how easy your Real Estate move can be!
The KariAndJoe.com Team | Your Home Selling System Since 1988
27 years of combined Real Estate experience in Seattle to Renton, Washington., USA
Keller Williams Realty South East Sound, Seattle, WA. USA
Phone 425-282-6197
Email:      Info@KariAndJoe.com
Website:  www.kariandjoe.com/


South Lake Washington Real Communities Blog:  http://karicollins.featuredblog.com/

Serving Seattle, South Seattle, Lake Washington Homes - Madrona, Leschi, Mount Baker, Columbia City, Genesee Park, Seward Park & South to North Renton Real Estate.  Real Estate made Easy for your through our Home Selling System

Houses for sale, Prices of homes sold and days on market for Seattle, South King County, Renton WA. See our blog for Seattle, WA Real Estate Market Report

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Rate A Home - Saugatuck, MI
Kari, well said on "what market would you like to buy in". It is a buyers market and no time for the buyer to be sitting on the side lines waiting for the best deal. Wait to long and they will be crying because the season changed to a sellers market.
Jan 11, 2008 03:09 AM
The Entire Team of Price & Company Professionals
Price & Company Realty - Myrtle Beach, SC

Amen to that!  Its so frustrating  to watch these people be fearful of buying now while the market is slow and the deals don't get any better.  The truly wealthy people just wait for this type of market to make their major deals.

Jan 11, 2008 03:10 AM
Mott Marvin Kornicki
Waterway Realtors® • Notary Public & Apostille - Sunny Isles, FL
Miami Notary & Apostille 786-229-7999
There is never a bad time to make a good decision!
Jan 11, 2008 03:12 AM
R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham
Bank of England (NMLS#418481) - Raleigh, NC
Bob Mitchell (NMLS#1046286)

The folks that I feel sorry for are the ones who owned Countrywide stock when it was in the 30's and higher! 

You make an excellent analogy though!  Thanks for the post!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

Jan 11, 2008 03:12 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Go figure...this has been a long time coming.  At least the government isn't bailing them out....otherwise we're paying for out competitors to be in business...yuck!  CW was mismanaged and Im surprised that they haven't fallen through the Enron route...maybe they will....let's see.

Jan 11, 2008 03:22 AM
Kari Collins
Keller Williams Realty - Seattle, WA

Duane,  What can we say..."A Realtor's job as Educator is never done!"

Best wishes to you in your Business.  Kari Collins Seattle, WA Keller Williams Realty

Jan 14, 2008 09:17 AM
Kari Collins
Keller Williams Realty - Seattle, WA

Christopher, if history is any indication; the greatest transfer of wealth occurs in markets just like this one!  How can one lose when one buys .50 cents on the dollar?   All the best. Kari Collins Seattle, WA Keller Williams Realty

Jan 14, 2008 09:20 AM
Kari Collins
Keller Williams Realty - Seattle, WA

Mr. Kornicki - I like that pithy phrase; that is AWESOME!  Here's to beaucoup Good decisions :)

Kari Collins Keller Williams Realty Seattle, WA

Jan 14, 2008 09:21 AM