The credit crunch......plunging home values.......foreclosures are on the rise.......loan modifications?
What does all of this mean to rela estate professionals across the country. I do not really know the answer but if you do send me your thoughts.
I do know that as we start 2009 many things will change. The outlook for real estate and our economy must get better. The first thing that realtors need to do is stop listening to the media and all of their negative reports on everything form money, the stock market, to bottled water causing cancer. That is not to say that we do not need to be familiar with what is being said to the public but maybe we can combat some of these reports with positive information from our local areas.
In my area the home prices have only dropped 3-5%. The media reports 18-33% That is a positive.
If you are in a market where prices have dropped in the double digits, maybe the answer is you can get a great deal on your first house right now.
Mortgaes lending will ease at the beginning of the year and loans will be avaiable to those who QUALIFY.
That can be ahard concept for some of the newer agents out there but not to many years ago all borrowers had to qualify and have a downpayment. We can still make a good living in those conditions.
I will probably ramble more over the next few days as I plan for my business next year.
Keep it positive in 2009