How our current real estate market applies to the tracking down of Osama bin Laden?
Very exciting news that our American Navy Seals and intelligence communities were able to take out Osama bin Laden in the last 24 hours. Obviously this is something that has been on the American agenda for the last 10 years. While talking with neighbors this morning we speculated why this took so long and how it might have evolved.
What’s become apparent is that chasing down an unknown enemy in unknown territory was quite a learning experience. I would venture to guess that the previous administration used every bit of knowledge and experience they had to try to get Osama, but that the rules had changed, the enemy could have been a nomad for the first few years and the nation harboring him was not working with us.
Continued pursuit of this enemy, as well as increased experience in how to think like a terrorist brought us to a successful conclusion after years of working very hard towards this goal. A new normal.
Real estate has taken some turns the past five years many of us could have never contemplated. Home prices have dropped, the mortgage market has seen tremendous challenges as well as way too many foreclosures, and folks are getting adjusted to quite a different real estate world than they’ve ever seen before. The rules for putting together a mortgage, determining an appraisal value of a property, ideas about home ownership, as well as new words such as short sale, etc are normal.
How we go from here is yet to be determined, but very few if any of the old rules from five years ago now still apply. The real estate market will continue to evolve and folks – sellers, buyers, landlords, tenants, realtors, brokers and the mortgage world will need to continue to evolve to stay in the game. Gathering your intelligence, keeping up with education and training, as well as being flexible to do your best for your clients will prepare you to reach your end goal.
What are you trying to target?