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Hello and welcome to JB's, it is nice to have you visit! Share and share alike right? In this modern day depiction of life it is good to see connectivity alive and ideas made good.
Drop me an email sometime and let's talk biz, but personal and intellectual only...see you later!
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| | Fri Jun 08, 2007 1:32 pm | | | | Comments: 0 Views: 4 |
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In these days of the real estate boom and subsequent slow down, we hear a lot of rumors about the industry, we read stories, hear the news headlines and yet we all wonder what is really going on.
I try to make sense of it all but really it is simple psychology and consumer mentality towards it all as we lean towards the media and simply think of them as the final word! Those who are in touch and look deeply into the markets know that it is not at all what they say and that things are really much better than what we think!
With my company, I try to really inform clients of what is what out there and I see some good things happening, but in a lot of cases they are local markets and not so much national. Certain markets are hit hard by the slowing down of their market and you hear a lot of chatter about foreclosures when the foreclosure rates as early back as 2002 were the same if not higher than what you hear about today? What the real issue is all about is the tightening up of the underwriting criteria and lack of double digit appreciation which was an easy out of the low payment mortgages and creative financing efforts. A lot of people right now are faced without an out, but the numbers are not that far off as you can easily see.
What is the cause of the turmoil? I believe a lot of it is driven off of media's need to throw out the bad news, after all, who really wants to hear good news?? But I have seen it over the years how people tend to do what the media is saying, whether that be about interest rates, buying homes or what have you...we are sometimes controlled by it....but the informed consumer can see past the rhetoric.
Bottom line, there is a buyers market appearing and people seem afraid to take the plunge into home ownership, but I also realize that there is good rationale if you are not in touch with what is going on out there.
Be informed, be aware and know what you are doing and as long as you do it right it will come out right!
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