Two tears rolled from my eyes, they touched my chin and moved on.  I hate tears.  While they can make one more impassioned, more alert, more astute, they can also lead one into thinking way too much about the subject at hand.

I got an email just recently, one through Active-Rain, a person I respect so freaking much.  I'd post it here, but can't.  It was private. 

There is a lot going on in the Real Estate Community.  It isn't easy these days, if you did and do it right, it probably was never easy.  That's Real Estate.

People are scared, afraid, economic turmoil has that effect.  I don't want to ease your emotions or substantiate those fears, I'll simply tell it how it is.  You decide... how it is for YOU.

We can play with numbers, shuffle products around and market the hell out of something we are doing that very few are not... but the fact remains, how can Real Estate benefit YOU?  At the end of the day, I'm pretty sure you care more about that than the couple in Philadelphia who were sold a teaser rate and are losing their home because the REAL payment came to fruition.  That's the thing folks don't talk about enough in this biz, there's a REAL in ESTATE.

You should know that rates are still very low.  From a historical standpoint, you're talking about 2% lower than what you could expect.  There's also a large inventory of homes on the market.  What that means for potential buyers is that you can get cheap money to buy a large array of inventory (homes).  The questions are, can you afford it and do you qualify?

Credit scores are crucial these days.  They just are.  Keep track of where your credit and scores are at.  Remember a few things, when you apply for a car loan, they pull their credit.  When you apply for a credit card, they pull their credit.  When you apply for a mortgage... you guessed it, they pull their credit.  Those reports and modules may differ.

Money doesn't hurt either.  Imagine that, needing money to buy a home?   While 100% financing is dead, unless you are a Veteran, you are going to need some money.  With the current state of things, that's not the easiest task to bring to light.  If I was a financial advisor, which I'm not, I'd recommend the following things:

A Loan to bail out this mess... (well, I don't recommend that... but read on;-)

It's painful at times, but there is a smirk involved with every nerve-ending bit of un-comfort being felt.  Everybody, well that's a general term, a lot of people have an inkling that we are living in tough economic times.  Guess what, they are correct!  I'm going to take a stab at the "Financier Advisor Role"  Please note that I have no legitimate educational background to make such recommendations; these are scattered thoughts that may or not turn out quasi-smart.  What I'm saying, in a nutshell, if you take any of this advice and lose your wallet... I ain't responsible.  Conversely, if you read and breathe in these opinions and make a buck or two... I can't participate in that money either.  Let's see if ‘Free Advice' is worth its price:

 *  If you have a pad, extra money, reserves, a ‘worthwhile' bank account... (It's) probably not a bad idea to start buying/chipping away at big companies and potential mergers at low prices.  First, you'll have to have some extra money floating around.  Second, you'll have to have a semblance of faith in the U.S. Stock Market.   Third, buy low.  If you aren't looking to die tomorrow, they just may sell high.

 *  If you are currently poor, barely able to keep up with bills, watch an infomercial and your problems are solved.  Seriously though, practice resolve.  Practice patience.  And knock on those doors and answer those bells and survive.  Thriving seems to be the next, logical, step... work hard and be persitent.  I would love to give you a magic pill but that adage is the damn truth, work hard and be persistent.  Along with that, ethics will keep you doing business for a long time.

 *  The Government bailing out anybody... goes against the natural rule of Man-Made Rules.  Plus, it probably screws up that ‘Capitalism' thing going on.  If economic life becomes a barren desert, I'm quite confident that the folks, who milked from cactus's now, should be around at the end.

 *Pre-payment Penalties... I'm convinced their main purpose was to ensure the return they quoted their investors.  Fair enough, I don't think they should be outlawed.  Let me say this, I believe in Loan Re-Modification.  If a Loan is modificated in any facet, it must present terms better than the original one... unless the loan was defaulted on before the modification process even began. 

*  Sub-Prime Mess - In simple terms, give me a break!  This isn't Sub-Prime's fault, they're just the easy scapegoat since they are pretty much out of business or aren't the loan du jour.  As you swallow the ‘cooked books', follow the money.  (For you Mortgage Professionals out there, you give me a good (70% or less) LTV & a clean Mortgage History, I'm making that Loan.   I'll make sure they are currently working, but won't ask for their most recent pay-stub.  In my mind, that's portfolio. I don't care what their credit score is!)

Folks, that's real.  It may or may not turn out to be correct, but it is damn REAL.  Even when you know what you are talking about, it doesn't mean people will listen.  Nostalgia creates geniuses of many.