Will the Cyprus Effect Bankrupt American Realtors

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Is the ‘Cyprus Effect’ about to cripple your real estate business?

If you’ve been dozing behind the screen for the last couple weeks, an economic collapse in Cyprus resulted in the government shutting down banks for 2 weeks; only reopening on the agreement account holders can access a maximum of $383 per day.

Even though many international investors and wealthy individuals chose Cyprus as a tax haven for registering their offshore corporations this financial catastrophe might seem far away for most U.S. Realtors.

Don’t get suckered into a sense of false security!

This could easily happen here for anyone of a variety of reasons from continued hacking attempts by foreign armies, a new recession on the revelation of poor economic growth, a nuclear attack by North Korea or major hurricanes.

Don’t get caught in a cash crunch!

Diversify your bank accounts, have plenty of cold hard cash stashed in the safe and keep your marketing rolling so that you keep fresh money coming through the pipeline.




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Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Thanks for the tips, I'll keep "working it" to prevent being hit by the Cyprus Effect.

Apr 01, 2013 04:40 PM #1
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

cash is king. . the same thing happened to one of my family member in Argentina back in the 80's. .

You have enough  cash in the bank to buy a brand new Mercedes. .

they close it . .like in Cypress . . temporarily

and when they open. . you find you still have the same money but it no longer buys a Mercedes. . .maybe a single tire


Apr 02, 2013 12:13 AM #2
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Reuben Fine

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