Hey folks, this is a comment from our Senior Business Consultant from Coldwell Bnaker:
I think is very important for those who take the real estate career serious to know what's happening...
Here we go...
I was just watching the morning edition of news on CNN and the so called experts are not doing our industry any favors. Their opinion was that if you are a buyer, wait 3 to 6 months because prices are continuing to drop and are not expected to bottom out until some time in 2009. Real Estate is local, always has been and always will. In looking at the numbers in my territory, we are not in the same situation as southern California, Florida, Arizona, etc. but our news reading public seems to think so. My challenge to you: spend some advertising dollars getting the word out that people are still selling and buying homes in your local market, attractive mortgage rates are still available and home ownership is still the American dream. Most importantly, real estate is a long term investment, paying rent is not. Although rent does not have the normal ups and downs, it is an expense not an asset. I have lived in my current home for almost 30 years, have seen the markets go up and down and am not bothered in the least. I need a place to live. It's worth many times what I paid for it like long term real estate always are. Like NAR says, 2007 will be at least the 5th best year in history, NOT BAD! Get the word out.
Ron Brown
Senior Business Consultant
Coldwell Banker Real Estate Corp.
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