Wow! I Didn't Know THAT About Real Estate!

I was in a seminar this morning led by a very successful and inspirational person - Gary Keller. The guy who puts the "Keller" in Keller Williams Realty, the third largest real estate comapny in North America! You don't reach that level of success by accident so I know he knows what he's talking about! Here are a few nuggets from the seven pages of notes I took:

• Economic history always repeats itself - that's why it's called an economic cycle.
• Economic "down" cycles are 50-70 years apart. We will never see a downturn like this one again in our lifetime!
• According to economic history, we should have had a recession in 2000-2001.
• Instead we had a longer "up" economy, essentially borrowing the "up" of the future (which is now!)
• Because we had a longer "up" economy, it stands to reason it will be followed by a longer "down" economy.
• During the most recent "up" economy people over-borrowed, over-paid and under-saved. Now we'll over-save and under-pay. Which would you prefer?
• Real estate markets are driven by five things: home sales, home prices, inventory, mortgage rates and affordability.
• This is the most affordable market we've had in decades when you consider the relationship between median home prices, mortgage rates and median income!
• Home sales rates are the same today as they were in 1998.
• Six states had an increase in home sales in the last quarter of 2008 and first quarter of 2009!
• Even if we reach a 10% foreclosure rate, that still means 90% of homeowners are doing fine. And that's GREAT!
• Higher interest rates and inflation are coming! We only know when they come in hindsight.
• Never buy a piece of real estate you aren't able to hold onto for at least seven years.
• If a property doesn't sell within 90 days of listing, there's only a 4-6% chance it will EVER sell at that price!
• It's always the right time to buy the right piece of real estate!
• If you buy the "wrong" piece of real estate, you still have a piece of real estate. If you buy the wrong stocks you can have a nice day!
• HUD designates a certain number of homes for K-12 teachers to buy at 50% of their value!

To take advantage to today's awesome home buying opportunities, call Jamie at 360-609-6775. Or visit the "Contact Us" page at www.MyRealtorIsJamie.com. We are here to help!