It's truly amazing just how much we are all affected by the price of oil. And after what seems like an eternity where the price oil climbs and climbs, we see the price of oil drop a few bucks and the world all the sudden looks like it's old friendly self. The stock market goes up, the price at the pump goes down, and after enough doom and gloom from the nationwide media about the housing down-turn, it would seem there may be a light at the end of the tunnel.
And fortunately for us, that light isn't completely dependent on the price of oil continuing to fall. Two years ago most people had never even heard the words sub-prime. Then the mortgage industry all but collapsed within itself and changes had to be made. Builders were quick to act and after years of sitting on excess inventory they cut back their numbers hard. Construction starts fell and the inventory of new homes started to diminish immediately as demand finally started catching up with supply. Most people didn't realize it, but things were getting better.
And then the government stepped in this week and the Senate approved the Housing Rescue package. From bailing out Fannie Mae and Freddie Mac and insuring their mortgages to offering tax breaks to first time home buyers, the government has finally done some work that might actually benefit the country and the economy as a whole. Wow.
By insuring mortgages, the recent catastrophic foreclosure rate should finally start to see falling numbers. And tax breaks to first time home buyers will thus allow and encourage more new buyers to come into the market place, which I believe will be the biggest saving grace to the currently problematic market.
So it would appear that some fresh new factors are in play that will boost the current market conditions and that could lead to a Real Estate Rebound, which would benefit all of us.
But what if it doesn't? Before I even posted this, oil is back on the climb. No surprise there.
I think it is very easy to lose sight of what a home actually is with all of this media attention, good or bad. I see it all the time. Sure, a home is an investment. But more importantly a home is a home. The feeling of owning one's own home is wonderful. And you just can't put a price on the memories, great times, and milestones that can be shared within the walls of your own home. And for that reason people will always buy homes regardless of what the media has to say or what the price of oil is. The statistical numbers will ebb and flow just as they always have but at the end of the day if you purchase a home, do the research, stay within your budget, and pay the right price for that home, you win.
At least that my 2 cents.
Tommy Hazleton
Keller Williams Greenville Upstate - Greenville, SC
Homes For Sale Greenville SC
I wanted to personally welcome you to active rain! This is a great community for learning and sharing. Join some groups, write some blogs, and just go for it!
Aug 12, 2008 02:43 PM
The Bill Kennedy Team - Keller Williams Realty - Spartanburg, SC
Welcome! This is a great place to learn from others, and a great place to gain business. Just blog whatever comes to mind - the best ones seem to be about non-real estate related topics!
Aug 12, 2008 02:53 PM
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner
Hello Tommy,
Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!
-Keith
Aug 12, 2008 02:54 PM
Keller Williams Realty - Spartanburg, SC
Welcome to the Active Rain Community! This is a great site to network, learn, and share ideas with others. Have a great day!
Aug 13, 2008 12:16 AM
Prudential C Dan Joyner and Young Realtors - Spartanburg, SC
Welcome to Active Rain!! This is a great site to network and share ideas!! Have fun with it!!
Aug 13, 2008 01:09 AM
Keller Williams Realty, Spartanburg, SC - Spartanburg, SC
Welcome to the Active Rain community. You have chosen a great site with tons of information you can learn from. Have fun with it and hope to see more of your blogs soon!
Aug 13, 2008 01:51 AM
Van West Realty - Greenville, SC Realtor -Short Sale Expert! - Greenville, SC
Kirk Westervelt, Broker In Charge, Van West Realty - CDPE - Short Sale Agent - Home for Sale - Greenville, Simpsonvil...
Hi, welcome to Active Rain! I hope to see more of your blogs in the future. Learn from others, share your knowledge and experiences and enjoy yourself! Take care! ---Kirk.
Aug 13, 2008 02:14 AM
High Def Realty - Austin, TX
My first well thought out blog and everyone appreciates that I've joined active rain but not a single comment about the actual post. Sure I doubt that I was saying anything new and for this my e-mail inbox is full today.
I appreciate the well wishing but on a site where It seems one goal seems to be gathering points and climbing the ranking I can't help but feel that these comments have other motives hiding behind them besides the well wishing.
It even leaves me wondering how many people actually read my post.
I'll look forward to future comments about the post itself, as it would seem I'm more than welcomed by the community already and I think that will suffice as far as the well wishing goes.
If you would like to post about the post, then by all means post away and I'll look forward to coming back to this site to see what people actually have to say.
Aug 13, 2008 03:05 AM
Keller Williams Realty - Spartanburg, SC
Welcome to Active Rain! This is a great site to network, learn and share ideas with others. Thanks for a great post and I look forward reading more in the future. Have a great day!
Aug 13, 2008 06:35 AM
Keller Williams Realty Spartanburg, S.C. - Spartanburg, SC
Hi, and welcome to Active Rain. Hope you have fun and learn while you network and share ideas. Thanks for a great post, and good luck, Jean
Aug 13, 2008 01:22 PM
Keller Williams Realty Partners - Spartanburg, SC
Congratulations on becoming a new member of ActiveRain. Being a new member myself less than a week and only posting a couple blogs so far I truly see the awsome advantage that this is; and only the beginning of a healthy and wealthy relationship of abundant professionals. Best of Luck to all of us, Nance
Aug 13, 2008 04:50 PM
Keller Williams Greater Cleveland West - Westlake, OH
So glad to have you here! Your "two cents" is valued and always an insight to the rest of us. This is really a limitless resource. Make the most of it!
Aug 14, 2008 01:16 AM
Austin Real Estate Information and Opinions
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