Now Is Good Time to Study Real Estate

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Home Builder with CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS 521400, 1501015, 01795582

In an interview with the San Diego Union-Tribune, Michael Lea, director of the Corky McMillin Center for Real Estate at San Diego State University, says he is encouraging students to study real estate because we are at the bottom of a cycle. By the time these students have graduated, he believes the industry will have recovered.

“I don’t think we’ll ever again see the 2005-2007 heyday in real estate. That was an anomaly, and actually, I hope we don’t go back to that. But within real estate, there are a lot of opportunities, such as property management and lending,” he says. Lea sees apartments as a particularly bright spot. “I think as more people realize that homeownership is not quite what it was cracked up to be, we’re not going to have marginal people buying homes any more," he says.

"That’s ultimately going to mean more people going back to the rental sector. We’re growing as a population, and people have to live somewhere, so I think the rental market is in relatively good shape and will strengthen as we go forward.” Lea predicted that this kind of out-of-control real estate cycle might even happen again. “Real estate is an industry that is populated by inveterate optimists, and I think lenders have a herd mentality. If you get lenders seeing good times again, the herd is going to follow them,” Lea said. Source: San Diego Union-Tribune, Roger Showley (02/08/2010)

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John DL Arenden, Broker 

TAG Real Estate Sales & Investments

TAG (The Arendsen Group) Real Estate Sales & Investments is a full service, one-stop, turnkey, family owned and operated real estate brokerage, General Contractor, Manufactured Home Contractor, Developer, Investor, Property Manager, Interior Design, Engineering, architectural, Landscape design, Expert Witness, Consulting, Curative Title and Troubleshooting company with over 100 years of combined experience in the San Diego real estate sales, construction, design & development arena.

 

 

 

 

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Rainer
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Linda Powers
Resort Realty - Duck - Duck, NC
On the Outer Banks

When not busy with clients, why not learn something! And I agree with the herding syndrome.

Feb 08, 2010 12:11 PM #1
Rainer
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Judi Boad
SOLUTIONS REAL ESTATE - Scottsdale, AZ

Hi John and Janis,

We are recovering and I would agree that I never want to see a market like 2005-2007 again in my lifetime.

The market is evolving again and it is interesting to roll with the tides of change. I am always glad to hear that analysts and experts agree we are pushing forward!

Thanks for the post.

Feb 08, 2010 12:39 PM #2
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John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

Thanks for your comments Linda and Judi. I agree In Times of Crisis Great Opportunities Emerge. I'm just getting into the Mortgage Brokering end of my business career. Kind of an exansion you might say. My Broker says by starting out now I'll be learning all the new ways which is a heck of a lot better than trying to break myself of lots of bad habits and getting frustrated with all the extra manutia that's coming down.

Feb 09, 2010 05:00 AM #3
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