Many people feel that they should shy away from the real estate market right now because of the vast number of foreclosures and the sluggish market conditions we are seeing. It is very simple. This will turn around and I know I will be happy I purchased homes when I did. If you look at a much larger scale you will see that we go through periods where we do not see increases and some areas actually see decreases (California, Florida,etc). My website, www.jeffolsonhomes.com , goes into further detail regarding current market conditions and what to expect in the future. We just need to ride the wave out for a while until things improve. Wisconsin has leveled off due to the saturated market but properties continue to sell if owners are a little more patient than normal. As all investors know, the lenders are much more reluctant to lend money in these times as well. Gone are the days of strolling into any mortgage broker's office and getting a no money down loan to purchase whatever you see fit.
Lenders are also looking for much higher credit scores these days as well. Deals are out there for you if you know where to look and work a little harder than the next guy. Don't be afraid to make a few uncomfortable calls or draft a few letters. If it was easy everyone would be doing it and we would all have numerous properties in our portfolio. Just keep at it and you will get there:)
Jeff Olson- Re/Max Preferred http://www.jeffolsonhomes.com
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