I am having the most difficult time of my career. I have been selling Real Estate since 1984 and this is the worst market I have ever seen. I started as a rookie Realtor in 1984 with the interest rates at 16% My first year was terrible. I guess learning the ropes and all. However, year 2....Off and running. And then I actually started my own company(Small niche market kind of realtor) back in 1987 just as the stock market took a huge hit and interest rates started climbing again. I did OK in that market. I soared through the layoffs in the late 1980's and early 1990's.
I guess you could say that I have been around the block at least three times. Well, I am hurting now! Staring at the curb from my recent fall! I just don't know what the heck is going on here.
Is it the rates? ....NOPE..rates are low
Is it the inventory? Nope..plenty of inventory
Is it the banks..HUMMMMMM
Is it the media.....WHAMO!!!
I think the banks are definitely the problem here but the media is not focusing on the lending practices of the recent past. More so they are attempting to make the realtors look like they created this problem instead of the greed of unscrupulous mortgage bakers and brokers. We take the hit all the time.
But really, the media is telling people how bad the market is going to get instead of saying that the bargains are out there now! Interest rates are still extremely low, and FHA is the way to go for those who have less that 20% down. Is that part of the media blitz....? NAH.. just the bad stuff..
Miriam Munzer
Broker - Landmark Realty of Orange County
miriammunzer@hvc.rr.com
Let me know what ya'll think!
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