How is the Real Estate Business? The answer will $urpri$e you.

Long time ago I read something that said, "it is not what happens to you, but how you react to what happens to you that determines the result..." Often times I am asked that infamous question; How is the real estate business? As we all know, when it is real dark in one part of the world, there must be a very high noon kind of sunshine in the other side of the world. Don't believe me? Call Australia tonight.

Therefore, when some people believe this is the worst real estate market in eons... there is a great market for a bunch of people who never thought that one day they could afford to buy their very first house or better yet, their very first investment property, or for a seasoned investor to improve their portfolio of properties by acquiring more.

There is in one side of this market, a tsunami of bad news: prices going down, equities are being lost, hard time to get refinancing or a new loan. Mortgage payments that are being made to a loan that will never be paid off. For example, our client Frank bought a house 4 years ago for $900,000. Frank didn't put a downpayment, and make payments of interest only. Obviously he does not have equity in his home and now that prices have dropped, his home is worth about $700.00. Frank is fine as long as he makes the montly payments. He has a great tax write off. However, if he stopped making payments he would be in trouble, he is sort of making hight rental payments but with a tax benefit.

But there is that other retreating part of the tsunami of bad news that have uncovered a gold mine for first time buyers and investors: There is a great number of properties to choose from, motivated sellers willing to accommodate first time buyers, clean their houses, make repairs and almost anything else the buyer might ask for in order to sell the property. Interest rates at this time (December 2008) have dropped below 5.5% fix...! For investors, the rental income predictions are good, simply because of the number of qualified tenants, (previous homeowners) that will have to rent for many years because they cannot fix their credit in order to buy a house. This will represent steady and good income numbers down the road.

I have been selling real estate since 1985, I have seen the bad, the good, the bad again, the good again... and here we are in what I believe is the end of the real, I mean real bad market... or is it? Most of us learned to first save for a downpayment and closing costs and then go look for a house. That wasn't just the old way... that should always be the way... to buy a house.

I would like to encourage all my fellow colleagues to be ready and prepared to answer this question in 60 seconds or less... describing this market in a way that shows the great benefits available right now... How is the real estate market? ready? go!

Antonio & Alexia Cardenas, "The Realtors In Motion". Selling the San Francisco bay area counties of Alameda and Contra Costa. Home based in San Leandro & Castro Valley, CA.

Accepting referrals 24/7. Callus, we'll come and TANGO with you!

www.ListedbyAntonio.com