With all the negative media stories out there it can be very discouraging to the struggling Realtor® or Mortgage broker or any profession you might be involved in. I was only using these two as an example. I for one feel for each and every one of you that might be experiencing this. Just to let you know....you are not alone.
With 2007 coming to an end it might be a good time to start thinking of the future. So going into 2008 I believe we will see our market to continue to decline just a bit more. There is talk of another 20% decline in property values and with very high levels of inventory there still doesn't seem to be an ending to it just yet. But I think we might start to see the market take a swing back upward in the spring but that shouldn't stop you from preparing for better times. Why not start now?
Now I was never the type to sit down at my desk and do a full blown analysis of how my year went and forecast the next. I worried more about waking up in the morning...getting out of bed and hoping my two feet hit the ground at the same time but I do believe that it is important to lay down some sort of foundation and write down a few realistic goals. For example...you might have a goal of making 100K next year but realistically you might only make 75K. But at least you were still meeting a realistic goal. Here is how I might approach it. I would look at how much icome I brought in and how I attained it. Then I would figure out all of my expenses.
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