We have been reading so much about how the real estate market is going down the toilet. Yet, many people said this is the best time to buy. Is it the best time? It is bad for sellers and great for buyers/investors. What happens to the ones who are already in the toilet so to speak. I mean the owners who got in way over there heads. What are their options verses the ones who are getting ready to buy? Are these new buyers going to help bail the other old ones out? What mortgage company is out there to help you not destroy you? Is there a financial company out there to truly help you?
If we go and read about the market, no matter what you read it will make your head spin. Every corner that you turn, it seems as though you will hit a brick wall. No one seems to care to tell you the goods about the market, only the bad ones. Now, all these bad rep (by regular citizens as well as the media) about the real estate market has help it tank (majority limiting prophecy or majority fulfilling prophecy?). I can't give them all the credit but most. Some credits goes to the government as well as the financial institution's. Then, some goes to the people who became homeowners (first time or investors), and went way above their heads. It was too easy to get over your head, everyone said it was okay to do. Shucks, they even provide you with the tools to do it. If you needed it, they will even hold your hand while you are doing it. Creative Financing, or whatever they called it, if you thought you couldn't have it, well they will find a way for you so you can have it. A win-win plan, so they say.
Life was grand when the market was gold. Everyone was snobby to the wanna be owners. When you walk into a new home development site to check out the model homes, most of the agents nose was way up there. They didn't have to work hard to sell the homes, they were sold even before the models were even finished. Those snobs thought they had the rights to look down at you and treat you like nothings. Now, the same snobs will bend over backwards and kiss the ground you walk on. Just go in and check out the homes, they will give you coffee, soda, food or even throw in a plasma TV (well you have to buy a home to get that though). The new homes are now being auction off at bargain prices, even name your price and incentives if you want. The world has change dramatically for this market. Not just for the builders, the owners but for all. Less people buying homes, less people working to build homes, less people spending money on furniture's, less people going out to eat, less people buying clothes, less money spent because most money has to go toward paying those high mortgages. The domino's effect,it even affects the little precious babies as well. What is there left for us now? Buy don't buy? Foreclose don't foreclose? Bankers and others are now changing their songs from good days are here to stay to bye bye Mr. good-old-days.
They said that people who are stuck can choose to short sale. This is suppose to be a better way out than forecloser. Who would buy right now even for bargain price? Most people know for a fact that the bargains of today will also mean that their bargain might be a lost cost in the near future. That is a real risk and a major one at that. But again no risk no gain right? Want to play? Why not, you have a better chance of making money this way than the lottery right? So called experts, have said that the real estates market have their ups and downs. If you have the money or the patience to hold it for like um shall I dare say, ten years or so. You just might come up even, or if you are fortunate you might even come up ahead.
For those who are naive, sorry but your stuck is what the mortgage company will say to you now. In the past, those are the ones who said hmm you want this home and it shows that you can't have it. Let me see what I can pull out of my hat. Ta da, here you go just sign here and you can move right in. Nothing bad is going to happen, you get what you want the house, I get what I want the money, we both happy. The real estate only goes up. The agents would say hmm, don't believe me, here let me show you some positive past figures, now you believe me. The agent then hands you a deck of papers, great now sign here (with a red arrow tape pointing for where your signature(s)should go). It seems as though the naive buyer/child is being tantalized with candy/house by the tantalizer/agent.Don't get me wrong not all agents or affilates are like this, some are truly honest.
Whatever will be will be. So, hold on tight because life is like a roller coaster, and take it one day at a time. Like they say, life is not going to be easy but it will be worth living. Miracles does happen, pray and you just might be happily surprised. May your days be fill with grace and harmony. God bless all of us. Take care and live life in a healthy and safe way.
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