Pay close attention, for these are interesting times.
I realize that my reaction to the roller coaster soap opera of our economy may very well determine my future. It will determine yours as well. So, what's the proper reaction to all of this drama? I personally think that the proper reaction is to remain calm, be positive and opportunistic about the opportunities that any change in a market creates, and get better than ever at making mole hills out of mountains while the vast majority of people make mountains out of mole hills. I'm not in any way making light of what's going on "out there." I'm asking that we don't fan the flames of emotional reactions that create bigger obstacles. I don't want to miss spotting real opportunities for myself or for my clients.
Long after the bail outs have taken place, long after the stock market has driven itself to historic losses and gains, long after the hour long waits in line for $4 per gallon gas, this industry called real estate will still be the lifeblood of this great nation, and hence, this great city we all call "home."
If you zoom out a little bit and look at what's going on, I truly believe that all of this is once again demonstrating the unparalleled importance the real estate industry has on the quality of America's economy. Whatever bailout that occurs, you can be certain that the center of its focus will be how effectively it can get money moving in and out of the real estate industry.
Increasing gas prices and the aftertaste of gas lines due to a shortage will continue to force people to evaluate the locations of where they live and where they work, and many home sales and purchases will take place to solve these dilemmas.
Consumers' lack of confidence in the financial markets will, once again, prompt consumers to seek financial security and refuge in the real estate market. After all, you can actually do something to improve the value of any piece of real estate, whereas the only thing you can do to improve the value of your stocks is to pray.
Also, it's hard for anyone to make a case other than "this is the worst of times." Think about it. I think the prices of real estate in the wake of the biggest financial mess in modern history are virtually as low as they will go. Yes, I said it. This may be one of the silver linings in this whole financial mess. I feel confident in declaring, "This is the worst! It can only get better from here!" There is always opportunity for those who seek it!
There are two very important things in our near future, both of which will put wind in the sails of our industry. One, a financial bailout WILL occur. Two, a new President will soon be elected. I think November 5th will be a great day. With the election comes the removal of the dark cloud of uncertainty that we all have to live with for five more weeks. Change is coming with either ticket. Republican or Democrat, either ticket offers a historic change component.
In the meantime, I must continue to study the data, study the numbers and study the information that helps me be the most prepared Realtor to keep you informed of what is really happening in our local real estate market along with selling houses for sellers and find opportunities for buyers.
First time home buyers, People who NEED to buy their first investment property, People who need to sell and buy a bigger home, Eco-Friendly buyers and sellers, People who are having babies, getting married, commuting too far, dying, divorcing, losing their jobs, getting new and better jobs...all still need a Realtor and I will continue to work extremely hard to get them the MOST money for their homes and to find the BEST opportunities for their new homes.
This is the greatest and longest standing wealth building industry the world has ever known. The amount of wealth that will be created by those who take advantage of the opportunities in this market will be staggering.
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