Real Estate Bust or Boom? Your Decide

By
Real Estate Agent with Exit Realty Denver Tech Center

REAL ESTATE BOOM OR BUST?

I am hearing so much doom and gloom in the real estate industry, that i decided to talk about the good side.  I'll admit, foreclosures are wreaking havoc on the market, but haven't we been here before.  By we, I mean the collective. I was certainly too young to experience the 80's bust, other than eating "SPAM" with every meal.  For those of you under 30 yrs old, that was a type of canned meat. At lease I think it was meat.  The rest of you probably still have it in your colons.  I digress.  My father in law is owner of the largest private brokerage in Oklahoma City, and he told me once, cash is king in a down market.  If you don't have cash, then borrow it and invest in Real Estate.  With interest rates still rock bottom, and properties selling for close to half their value in some cases, it is the perfect storm.  Real Estate will rebound, and property values will increase.  Rents are increasing making investment properties more valuable.  This is not rocket science, and I can show you how many people are taking advantage of this down market.  I am saddened by the financial crisis in which many people are finding themselves.  However, it is neither unethical nor unjust to take advantage of the tremendous opportunity to build a real estate portfolio. 

Comments (9)

Vickie McCartney
Maverick Realty - Owensboro, KY
Broker, Real Estate Agent Owensboro KY

Erik~ For those that have the cash or the ability to borrow and have steady jobs, now is a great time to buy!

Jun 04, 2008 04:36 PM
Richard Dolbeare, R(B)
eXp Realty - Wailuku, HI
R(B), ABR, CRS...Hawaii Multi-Island Specialist

The train is in the station, all aboard!

Jun 04, 2008 05:15 PM
Brian Hoots
Real Living Speckman Realty, Inc. - Bourbonnais, IL

Erik,

Great post, it is a great time to buy, Welcome to Active Rain!

Jun 04, 2008 05:34 PM
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

Great post!  Uh don't forget the '90s--bust!  or did that only happen in California

Jun 04, 2008 05:51 PM
Ted Mackel
Keller Williams Realty Simi Valley - Simi Valley, CA
Simi Valley Real Estate Agent

Welcome to ActiveRain. Congratulations on your first post. Get around and check out the community, you'll quickly figure out how to supercharge your blogging skills.

Jun 05, 2008 03:40 AM
Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Welcome to Active Rain and congrats on your first post.  Be sure to spend some time looking around at what and how others are blogging here.  It is a great education and lot s of fun.  Looks like you're off to a great start...keep it up!

Jun 05, 2008 05:43 AM
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm

Jun 05, 2008 07:14 AM
Rick Sergison
EXP Realty of Canada Inc., Brokerage - Pickering, ON
Durham Region Real Estate Blog

I just stopped by to welcome you to Active Rain. I hope that you find it a great benefit to your business and that you see the value that I have also found here. I am from Charlottesville Virginia and using Active Rain has really increased my business!

My main blog on Active Rain is here: Charlottesville Real Estate Blog, not the link at the bottom of this post. 

I hope you will look into the many groups as there are some great group both local and broad based,.... 

enjoy!

Jun 06, 2008 10:44 AM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Erik,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

Jun 07, 2008 02:08 PM