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And now, the rest of the story...

By
Real Estate Agent with CBSHOME Real Estate

I know I speak for many when I say, "I just can't take any more bad news".  I've even stopped reading the paper and stopped watching the news.  I have asked my husband (a news junkie) to let me know if there is something newsworthy that I should know about. 

To listen to the news media, one would think that homeowners are in big trouble and the majority of them are headed toward foreclosure.  And now, the rest of the story...  I am a member of the Buffini and Company coaching program and Brian Buffini shared some statistics with us on a conference call this month that you won't hear on the news.  There are 52 million households with a mortgage in the United States.  97.2% of those homeowners are NOT in foreclosure and 93.8% are current on their mortgage.  Another interesting stat is 40% of all foreclosures are non-owner occupied. 

I understand that real estate is local and I am blessed to be in a market area that hasn't been hit as hard as some other areas of the country.  As my manager has said "We were not invited to the party, so we don't have the hangover".  In Omaha, NE our market in 2008 was down just 16% in the number of closed units and down 19% in closed volume.  Our average sales price dropped just 4%.

I believe the more a REALTOR knows about their local statistics, the better he/she can inform their clients, showing them that you are their trusted adviser when it comes to the local real estate market.  There has never been a better time to buy since I became a REALTOR in 2002 and I believe with my whole being that 2009 will be a great year for real estate! 

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