No One Prospers from Panicking

As I checked in with the financial markets this morning, I heard the words "Crash, Panic, Fear, Bottom, Tumble, loss limit, market circuit breaker" WHAT???

The reporters were doing their best to explain the panic and massive sell-off in the overseas market last night, and there was speculation we may finally see the huge 1 day stock market crash we have been dancing around for months it seems.

I am here to tell you, my clients and blog readers, that I have never met anyone who told me they got wealthy by panicking. There are those who have gotten rich off OTHER people's panic however. There is nothing to be gained by simply reacting to markets like a rubber band, and going with the crowd. What you need to do is consider your own personal situation, your own timeframes, and your own financial needs so you can make the SMART decision when it comes to your stock portfolio or your home. I am here to tell you that right now, I see tremendous opportunity to BUY real estate, and even BUY stocks (with the proper strategy and advice of course).

Remember 2005 when real estate was the talk of every cocktail party, and everyone was telling you how you "needed to get in" or "needed to flip properties" or listened to stories of people telling you how they made $40,000 by just holding onto a condo for 3 months and selling it? THAT IS THE SIGN OF A TOP!!! When everyone is telling you to get in, you should consider getting out. Imagine if you had sold all of your properties in Spring of 2005...hmm...how would that decision be sitting with you now?? Well, it doesn't matter, as we are in 2008. So when everyone is telling you "STAY OUT OF STOCKS AND REAL ESTATE" I am simply here to suggest that it is probably a good sign that with the proper strategy and choices, it is GREAT time to get in.

If you are not getting the advice and counsel you need from your financial professional, FIRE THEM and get someone with the heart of a teacher who will guide you through the process and help you decide what's best. If you have a question about the value of your house, and whether you should sell or can sell, CALL US!! We are here to help you. We want to strengthen our relationships with you during these challenging times, regardless of whether or not we get paid a commission right now. I just want you all to not feel 'lost' out there, and know you have options, and you have allies who will help. If you need a referral to a good accountant, attorney, or financial pro, please also let us know. We have a great referral directory available for you.

Have a great weekend!

Sean Carroll

www.TeamCarrollNJ.com