What’s in store for 2009 is anyone’s guess, but...
Real estate professionals are betting on better days ahead! And consumers would do well to recognize some rather important facts that might not normally be considered, and in contrast to what is frequently reported by the media...especially when considering buying or selling real estate in 2009 and [perhaps] beyond. It’s anybody’s guess exactly how long it will take for the economic market to correct itself, although history proves that the economy, especially the real estate market, is cyclical...numbers go up, they go down...and eventually they will correct themselves. ”What goes up must come down!” Ring any bells?
It may help to remember a few of those important facts referred to in the latter paragraph if you assume that you couldn’t possibly expect to get as much from the sale of your home, right now, as you would like to; that it could take a long time to produce a buyer for your home; or, if you are a buyer who thinks that financing has become an impossibility. I am always available to help put your mind at ease. And I share all types of real estate related information to clients on a regular basis, as part of my ongoing dedication to them...to help them at all times, not just during the times I’m working for them to help them buy or sell a home.
If I may present a good example of a [recent] positive happening in a negative market...in October [2008], I placed a new listing for the sellers of an exquisite single-family home. We closed the sale of that home in 68 days, for 93% of their original list price. In turn, I helped them find an equally [actually more] beautiful home in a fine neighborhood, for a great price! Is that proof enough that this is a good time to be part of the current real estate market? One should remember that any deficit a seller might recognize in the sale of one home, they can usually make it back in the purchase of another property that can be bought at a reasonable price.
Other facts to remember are 1) a financial “loss” on the sale of real estate might garner certain tax benefits*; 2) there is still a buyer for every home; 3) there are some pretty great deals to be made right now, considering current price reductions on so many homes; 4) numerous financing options are still available for qualified buyers; and 5) nothing is impossible if a knowledgeable REALTOR® is hired to assist. And, finally, if you’re not actively engaged in the buying or selling process, you can’t hardly expect to reap any benefits!
Even though some consumers are feeling the current “crunch” more than others, not everybody is so “doomed”, considering the many positive opportunities there are in the real estate market. So, when will the media finally give up on all their “gloom and doom” reporting?
I’d love to hear your comments and discuss any feedback you might have to offer. Please feel free to share yours! You can either comment here, or email me at Marlene@MarleneDoesMore.com.
*It is highly recommended you seek the advice of a Certified Public Accountant about your personal tax structure.