Real Estate in the Real World
With all the hype from the media about the decline in real estate market the general public is terrified to make any moves in the real estate world as they see it through the eyes of Tv cameras and reporters.
Folks, the fact is this. The government brought this mess on themselves a few years back and , as usual, they are counting on "we the people" to clean up the pieces and try to put them back together to create some order in all this.
Here in Tennessee where I am a realtor, the overall picture is OK. Yes, the prices have fallen slightly from where they were even 1 year ago and it is really difficult to get a closing sale on a piece of property right now but it is a glorious time to buy whether for investment or just to purchase a primary residence. We have so many properties on the market right now that it is like a yard sale of real estate for the average investor looking for a "good deal".
The lenders pose the biggest problem area right. The mortgage companies that made all these sub prime loans over 3 years ago to buyers that didn't have the credit standing to buy a pot full of dirt at Big Lots and now they are losing homes that they should never been able to buy in the first place. Now the lenders have tightened their belts to the extent that the average blue collar worker (which make this world turn) can't get a mortgage loan and thus we see an increase in renters.
The average joe that would have been a home owner 3 years ago is now in the renters sector.
This opens a new avenue for sellers with cabins, 2nd homes, etc that have had their property on the market for some time now with little to no activity. Your thought on this.
Folks, the fact is this. The government brought this mess on themselves a few years back and , as usual, they are counting on "we the people" to clean up the pieces and try to put them back together to create some order in all this.
Here in Tennessee where I am a realtor, the overall picture is OK. Yes, the prices have fallen slightly from where they were even 1 year ago and it is really difficult to get a closing sale on a piece of property right now but it is a glorious time to buy whether for investment or just to purchase a primary residence. We have so many properties on the market right now that it is like a yard sale of real estate for the average investor looking for a "good deal".
The lenders pose the biggest problem area right. The mortgage companies that made all these sub prime loans over 3 years ago to buyers that didn't have the credit standing to buy a pot full of dirt at Big Lots and now they are losing homes that they should never been able to buy in the first place. Now the lenders have tightened their belts to the extent that the average blue collar worker (which make this world turn) can't get a mortgage loan and thus we see an increase in renters.
The average joe that would have been a home owner 3 years ago is now in the renters sector.
This opens a new avenue for sellers with cabins, 2nd homes, etc that have had their property on the market for some time now with little to no activity. Your thought on this.
