The contrarian

I have been in the real estate business for almost 20 years. I first got started in the early 90's when the economy was extremely difficult and it could take years to sell a house or more! At that time in the State of RI all accounts in the credit unions were frozen and people could not get access to their funds, period. Nothing happened in this state for almost 2 years. Although the current situation is certainly not positive we can at least get what ever money we have when we want it. Additionally, mortage rates are still very attractive, 30 year fixed rate mortgages are under 6%. That is incredible. I know it is hard to believe but there are still mortgage companies and financial instiutions out there that want to loan money!

We also have sellers who are very realisitic for the first time in over a decade. Realistic doesn't necesarily mean that it is given away but it is priced where it should be and is a good value. We also still have some people who have money. I know we never hear anything but panic but I tried to get a hotel at Disney World for a small vacation in the Spring and they are all booked solid! If things are so bad where are these people coming from and how do they make any money seeing that we are all on the verge of financial ruin, or that is what the media would like us to believe!

One of my biggest harbringers of a turn around is that every media outlet, loud talk show host on the varous cable financial stations and morning show host is telling us not to buy real estate. When the Today show tells you not to buy that is the best signal ever to start looking. When they tell you it is time to buy it is too late and the market has already moved significantly and you are overpaying, why, because the savy buyer was out when everyone else was told to run away and started the momentum! It is time to stop listening to all the so called experts and take it for what it is, there is value out there now and it is a great time, if your finances permit, to look for the dream house!