Give thanks for the "Good" opportunities and aspects of Real Estate and not the Bad and the Ugly.
The "Good, Bad and the Ugly" of Real Estate... who remember the Clint Eastwood movie as a hint?
The Good...Low Mortgage Rates & Bargains Still Exist
He comes in with a hint of a smile ready to pull the gun (invest). Things are good again. Mortgage rates are low, first time home buyers can afford a home in many areas,, economic stimulus free grants for down payment or closing cost assistance are still availab le. Bargains still exist, look for opportunities in lender owned and short sales or fixer uppers. More work but an opportunity for appreciation. Yes, it is good.
An evil glint in his eye. The man in black from the bank bought a foreclosure. Someone's loss is another's gain. Times were tough for some in the recent past and good for others. The bad.
The Ugly: Short Sales:
The homeowner's lender like a gunslinger staggers in leans this way, goes the other. No one can figure the stranger's intentions. He is fast and nasty and ugly....a Short Sale. Takes months to close, if then. Paperwork, delays, hardship letters. Some still exist. Yes...The Ugly.
Buyers can stick with the good, sellers recall bad and the ugly's pain.