Wednesday, September 3, 2008

Points I Wanted to Share

Here are some points I wanted to share:

1) Real Estate is an imperfect market. It's not like the stock market where you know exactly what your property is worth at that moment. This uncertainty creates opportunity.

2) Right now the amateurs are heading for the sidelines. That leaves this market for the experts. The competition is mostly gone leaving plenty of opportunity. That being said, properly priced properties are getting multiple offers. In the early and mid 2000s, I constantly heard "I can't wait for the Buyer's market. This seller's market is crazy!" Guess what? The buyer's market has been here for about a year but won't stay forever.

3) Banks have been busy the last year clearing out their bad mortgage inventory. It's estimated that they have about a year or less to clear most of these houses off their books. The banks won't have any, or very little, inventory in the future. That's their goal.

4) Bank Foreclosure and short sales - ALL these houses are listed by Realtors and are easily available to the public. Realtors are required by the bank to represent the Buyers. Don't be fooled by a service that will charge to let you into the secret door to see these properties. We have access to all properties. Some are great deals; most are not for a variety of reasons (location, condition, etc.). Let our team weed out the debris and find you the diamonds in the rough.

5) Real Estate is a necessity. Everyone needs a place to live. Many people can't qualify or afford property ownership. This creates a huge pool of renters. The end of this decade and into the next decade will be a Back to Basics decade. Your investing should follow this approach. Concentrate on housing Americans.

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