People have been asking this a lot lately. We all want to know - to make some sense of what has been happening. To be sure, many have been devastated by what's been happening in our economy. While others have been eyeing the opportunities these times present.
Home foreclosures are way up while stocks are way down. Just what is happening?
It's easy to start blaming everyone for our situation. I have my own ideas as to some of the causes for our current situation as I'm sure that you do too. However, a far more productive approach is to ask ourselves "what so we do now that we're here?" Fortunes are made and fortunes are lost in difficult times. They are made by taking bold well thought out steps that take advantage of current situations. Losses usually occur by being afraid to move or by waiting too long to move. Wrong moves are also dangerous. So how do we know what is best?
Can you think of actions we could have taken in anticipation of these recent times that would have prevented loss or rewarded us with gain? I certainly can. If I had only shifted certain stock holdings when I first saw problems brewing I'd be better off today. Perhaps you could say the same. However, right moves make opportunities into realities for us.
So, what do we do about this? Are there opportunities available to us right now that didn't exist to this extent previously? What are they; and what will we do about them? What is on the horizon that will benefit us by acting now? Who is currently benefiting and why?
As noted above, stocks are down and foreclosures are up. This has created an oversupply of properties for sale resulting in much lower sale prices for homes. Like stocks, this oversupply is expected to eventually return to a more normal balance. When this happens, prices and mortgage interest rates will almost certainly increase. We are already starting to see inventories level out, and in some cases reduce. Some economists in our industry are even suggesting that we may have already bottomed out or soon will.
What happens next is not certain. It never is. But the signs seem to be appearing out of the fog that may suggest an easing of the crisis with more of an eye to the future. People with reasonably good credit and good employment are in an excellent position to benefit.
Perhaps it's time to refinance your mortgage. Rates close to 5% may be available to you. Or maybe now is the best time to buy your first home or move up to a larger one while prices are very favorable. The best prices seem to be available on some of the upper priced homes. Could this be your opportunity? Is now your time to benefit from being in the right place at the right time? At least it's worth thinking about.
Regardless of what you decide to do - or for that matter not do - we'd like to be here for you. We've helped many in 2008 take advantage of this market. We've advised others to sit tight for a while due to their own circumstances. Either way, we want what is best for you.
Some may need to sell their home but are afraid of this market. We'll help you maximize your home's sale price. It probably won't bring what it would have a few years ago; but we can help you realize the top price available at this time. These are times when our experience really matters. We also know that it's more important to give good advice - advice with your best interest at heart. It's why people trust us. We pledge to keep that trust. We know that's why so many of you refer your friends and family to us. We appreciate that more than you know.
We're looking forward to 2009; and we wish you the very best of God's blessings in this new year. Please look forward with confidence and optomism. Then, ask yourself how you can encourage someone who needs it most. When we do this we will certainly have a good new year.
Home foreclosures are way up while stocks are way down. Just what is happening?
It's easy to start blaming everyone for our situation. I have my own ideas as to some of the causes for our current situation as I'm sure that you do too. However, a far more productive approach is to ask ourselves "what so we do now that we're here?" Fortunes are made and fortunes are lost in difficult times. They are made by taking bold well thought out steps that take advantage of current situations. Losses usually occur by being afraid to move or by waiting too long to move. Wrong moves are also dangerous. So how do we know what is best?
Can you think of actions we could have taken in anticipation of these recent times that would have prevented loss or rewarded us with gain? I certainly can. If I had only shifted certain stock holdings when I first saw problems brewing I'd be better off today. Perhaps you could say the same. However, right moves make opportunities into realities for us.
So, what do we do about this? Are there opportunities available to us right now that didn't exist to this extent previously? What are they; and what will we do about them? What is on the horizon that will benefit us by acting now? Who is currently benefiting and why?
As noted above, stocks are down and foreclosures are up. This has created an oversupply of properties for sale resulting in much lower sale prices for homes. Like stocks, this oversupply is expected to eventually return to a more normal balance. When this happens, prices and mortgage interest rates will almost certainly increase. We are already starting to see inventories level out, and in some cases reduce. Some economists in our industry are even suggesting that we may have already bottomed out or soon will.
What happens next is not certain. It never is. But the signs seem to be appearing out of the fog that may suggest an easing of the crisis with more of an eye to the future. People with reasonably good credit and good employment are in an excellent position to benefit.
Perhaps it's time to refinance your mortgage. Rates close to 5% may be available to you. Or maybe now is the best time to buy your first home or move up to a larger one while prices are very favorable. The best prices seem to be available on some of the upper priced homes. Could this be your opportunity? Is now your time to benefit from being in the right place at the right time? At least it's worth thinking about.
Regardless of what you decide to do - or for that matter not do - we'd like to be here for you. We've helped many in 2008 take advantage of this market. We've advised others to sit tight for a while due to their own circumstances. Either way, we want what is best for you.
Some may need to sell their home but are afraid of this market. We'll help you maximize your home's sale price. It probably won't bring what it would have a few years ago; but we can help you realize the top price available at this time. These are times when our experience really matters. We also know that it's more important to give good advice - advice with your best interest at heart. It's why people trust us. We pledge to keep that trust. We know that's why so many of you refer your friends and family to us. We appreciate that more than you know.
We're looking forward to 2009; and we wish you the very best of God's blessings in this new year. Please look forward with confidence and optomism. Then, ask yourself how you can encourage someone who needs it most. When we do this we will certainly have a good new year.
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