We all know that negativity and sensationalism is what sells, and that is definitely what is selling in this tense economic climate. It's clearly having an adverse effect, as we see panic-stricken consumers and investors sell off stock and remove deposits from banks, which only adds to our economic woes. Because of this, I and several of my fellow Realtors, mortgage brokers, title companies, and even our local radio station, have been on a mission to boost consumer confidence in our local Montrose area economy, where we have not experienced the same real estate downturn as in other parts of the country. As I've said to several people lately, if I weren't reading and listening to the news, I'd actually think we were doing quite well based on how well I've done throughout the summer and into this fall. Fewer buyers may qualify now to buy, but in Montrose, our local lenders confirm they still have plenty of money to loan and good loans for the qualified buyer. Real estate values have remained fairly steady since the decline began nationally around mid-2006. It's actually a terrific time to buy real estate in Montrose. And if one has to sell to buy, then it's a good time to sell, too.
Just to make sure I'm not fooling myself, I have been reading and researching a lot. I found some glimmer of optimism in Jason Zweig's article in the Wall Street Journal, What History Tell Us About the Market, which suggests investing now rather than waiting till we hit rock bottom will have its rewards. This morning, on Face the Nation, I listened to an interview of Dr. Fred Bergsten, Director of the Peterson Institute for International Economics. As he points out, we are in a "crisis of confidence." Consequently, it will be crucial for our government, and those globally, to respond together, quickly and adequately to address the current crisis to boost consumer confidence. So, my challenge, and plea, to all of you, my fellow real estate professionals , affiliates, and all business owners, is please help combat the negative media and boost consumer confidence in as positive, realistic, and responsible manner as your real estate market and economy dictate. After all, so often perception is reality.
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