Real estate... What if you have it backwards???? |
I was showing property yesterday... the home was a short sale... very common in today's market. The owners were there moving out and loading their stuff in a hummer! What's wrong with this picture?? One solution to the foreclosure & short sale problem sweeping the nation is planning! I blame the media & false advertising.. they are constantly talking us into spending our money on things that benefit the advertiser not the hard working American's future! "low or no down" no payments for a year! What a great opportunity... or is it???? Yes but only for the planner! What they need to advertise is the actual amount you will have paid when it's all over.... that $65,000.00 Hummer once you factor in the interest, insurance, gas and accessories has cost you well over $100,000! and what is it worth 1, 2 or even 5 years from now??? NEVER $65,000 again! THE MINUTE YOU DRIVE IT OFF THE LOT YOU'VE EASILY LOST $10,000 TO $20,000! And it just goes down each and every year from there! In my opinion, Hummers are for people that plan! If you think you can afford a Hummer... you can afford Real estate! Real Estate even has the perk of APPECIATION!!!!! not right away in this market... but it will eventually happen! I am not a gambler by nature.. but I would put my money into real estate then when I have cash flow and appreciation then I will buy toys! It is just a matter of changing your thought process a little.... Check out www.MYCO.com |
EDU Real Estate Group - Indianapolis, IN
All that available and instant credit sure fueled the economy. This society has gone out of control with what people think they need. I have been volunteering for a Junior Achievement, where we go in and teach 8th grade students about careers, jobs and the economy. This kids do not understand the difference between needs and wants.
Feb 13, 2008 11:33 AM
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"
I agree...I also think that the banks could do more to help meaning, they could have reworked..I know many homeowners who tried to keep their homes, but the banks would not cooperate..
Feb 13, 2008 12:12 PM
Crye-Leike, Realtors - Memphis, TN
A Crye-Leike Blogger
Hi! Welcome to the site. I see this is your first post.
There is a lot of reading on this site. I recommend that you read, read, read and then comment, comment, comment. There are so many different blogs to read. There are tons of topics out there from real estate, marketing, technology, seo, staging, mortgage, etc. It goes on and on. You'll start to get to know people and before you know it... you'll have figured out the benefits of the site.
Also check out Resources for the Active Rain Newbie.
Good luck!
Feb 14, 2008 01:07 PM
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