Where To Begin

Today's mortgage meltdown is causing problems for everyone. As a Real Estate Agent I have found it harder and harder to find buyers for the property I have listed. I have shown several houses in the past few weeks, however it seems harder and harder to get buyers to make offers on property that is a good value. I realize that we all attended "the party" over the past few years and now it is cleanup time.

That is why I am starting this blog. I hope that other agents, buyers, and sellers will comment and will give tips to each other about what works for them and what does not. There are a lot of good values out there, and it is our duty to educate the public that now is the best time to purchase property. I heard one person say that if anyone had the money to invest in real estate right now, that in a few years, they would be wealthy.

We all know that this current downturn will not last. Americans are resilient and will not be held down. As soon as the current crisis is over we will all begin to spend again. However, I also am a realist and know that this can also begin to spiral out of control.

If people quit buying things, jobs will be cut and those employees will quit buying - and around we go. One thing that politicians don't realize is that sub-prime loans are not the main cause of the current crisis.

If you break it down, it all started with the gas price increase. As long as the borrower can pay his payment, even though he may not like it, it does not matter what the interest rate is. When the gas price first increased to $2.50 a few years ago, I know of several businesses that closed because sales began to plummet. And when it reached over $4.00, many more closed.

I hope the new administration will truly work to solve the nations problem of independence on oil and will do what he said he would about finding alternative energy sources. If I have learned any thing, I believe that the world is truly small and what one country does affects everyone on the planet. I hope I have not got on a soap box too much. I also hope that you will comment and let's help each other out. Even though in a sense Realtors are in competition, we also depend on each other to sell one another's listings. So lets all help each other out.