Yes it is that time again. Every four years it comes around. Of course I am referring to our national elections. So much of the process we have seen before. It almost seems routine. On the other hand, lots of things are new this year.
We have just come through record breaking days with the stock market! Fannie Mae and Freddie Mac are talked about more than ever. Bank bailouts, talk of recession, depression, you name it. People are discussing the subprime loan market, or the fallout from it.
The republicans have their first ever female running on the ticket. The first ever african american is running for president on the democratic ticket.
Joe the plumber, Bill Ayers, Rev. Wright, ACORN, voter fraud, Wasilla, Alaska, Saturday Night Live, taxes, the economy, small business, national security, terrorists, and I could go on and on, are all words we have heard probably more than we care to no matter what your political views are.
But what in the world does all of this have to do with real estate, or more specifically, real estate in Lubbock, TX? Well, I definately have my own personal political views. However, we fortunately live in an area of the country where loans were fairly conservative. Our number of foreclosures were far fewer than average. Our conservative city did not witness the extreme highs and lows in the real estate market. We can be very thankful for that. Real estate is still surviving in Lubbock. In other words, it is okay to buy and sell without getting your head knocked off! Interest rates are still relatively low. Buying and selling is still safe in Lubbock, and yes, mortgage lenders are still loaning money.
Whatever your political views are don't allow fear to paralyze your confidence in living life! Don't let everything you hear in the media to scare you to death. Investigate things for yourself. Ask LOCAL experts what they are seeing in their market. FEAR stands for FALSE EVIDENCE APPEARING REAL!
God Bless!
Yes, I know you are probably sick and tired of politics by now. I am getting that way. No, I don't totally agree with any of the candidates completely and I probably never will. I know this is a real estate blog and not a political blog. However, whom we choose to vote for can and will effect our real estate businesses in the future. Please carefully study the issues and judgment of the candidates the best you can and make a well informed decision. Who supports small business? Who supports the self employed? Who supports being able to own investment property and not just one home? Who best supports the free enterprise system and capitalism, not socialism? Who will most likely support choices to run our businesses the way we need to run them without a lot of government getting in the way. If all of our clients that have purchasing power are overtaxed, do you really think they'll be buying as much real estate? Well, I just thought I'd stir the pot a little and get our brains thinking. Please post which issues,etc. you believe will effect our industry the most. Thanks for reading and commenting!
Jeff Sellers
DOES OUR LIBERAL MEDIA NOT HAVE ANYTHING BETTER TO DO BESIDES BOMBING OUR REAL ESTATE BUSINESSES AND MARKETS? I don't know where you are, but real estate is not near as bad as the media portrays where I live. Yes, there are foreclosures. Yes, there were bad subprime loans. Yes, there have been crooked appraisals done. Yes, there are crooks in every line of work. Is it the majority? Of course not! It is the small minority.
WHY DO THEY CONTINUE TO LIE TO THE MASSES AND SCARE PEOPLE SO MUCH? Yes, home buying has finally slowed down a little bit here because of lack of consumer confidence. Why all the negative, negative reporting about real estate and banking? Is some of it justified and true? Well, of course it is. But, that doesn't mean it is bad for people to buy and sell homes. People can still buy homes. They can still get loans. Interest rates are still very low. BANKS ARE STILL OPEN! Money is still being loaned for home mortgages. Many people still have equity in their homes.
I challenge all the GREAT AMERICANS to stand up and fight the negative media before they destroy this great land!
Real Estate is sooooooooo LOCAL! Before believing everything you read and hear, consult your LOCAL Realtor expert!!!
Remember, Whether Buying or Selling...It's Always a SELLERS Market...
Jeff and Lisa Sellers
The Sellers Realty
BAILOUT, RESCUE, PAYOFF, BAD DEBT, FORECLOSURES, GOLDEN PARACHUTES, BILLS, REPUBLICANS, DEMOCRATS, THE ECONOMY, WALL STREET, MAIN STREET, THE MARKET, INVESTORS, BANKING BLUNDERS, WAMU, WACHOVIA, AIG, CONGRESS, THE HOUSE, THE SENATE, THIS ADMINISTRATION, THAT ADMINISTRATION, THE LOBBYISTS, STOCK MARKET, DOW JONES, MORTGAGE LENDING, CAR LOANS, CREDIT CARDS, CREDIT, NO CREDIT........
OK, are you sick of all this yet? Yes, many Americans are fed up with all this nonsense. We have heard so much and will continue to hear more than we probably want to hear. But lately I've caught myself wanting to hear more, understand more, be more "in the know", be informed,etc. I think you know what I mean. How will this effect mortgage lending? What will happen to real estate as we know it?
I believe we will definately have some bumps, but BUYERS will continue to BUY and SELLERS will continue to SELL! Hopefully buyers will have cash, especially if loans are harder to come by. Will banks continue lending to anyone and everyone with a pulse? Of course not! I believe the banks will still lend money. I also believe people better get their credit scores up and have some money to put down. Whatever you believe about the BAILOUT, RESCUE PLAN, or whatever you choose to call it is up to you. I must confess that there is a lot about it that I do not understand.
I DON'T BELIEVE WE SHOULD LIVE IN PARALYZING FEAR! It is still okay to sell a home, buy a home, borrow money, invest,etc. We should always be discerning and pay attention to what is going on around us. However, don't allow the national media to scare you to death with everything you hear.
Let's continue to BUY and SELL and be thankful for the free enterprise nation in which we live.
God Bless the USA!
WHO and WHAT determines what a home will sell for?
How much the owner paid for it.............NO
What it appraised for at some point.....NO
What the neighbor thinks it worth........NO
A lot more than the sellers owes.........NO
How much seller put into it................NO
What inexperienced realtor says........NO
What seller has to get out of it.........NO
HOMES ONLY SELL FOR WHAT BUYERS ARE WILLING TO PAY AND WHAT SELLERS ARE WILLING TO ACCEPT in the CURRENT MARKET.
Of course, the home needs to "appraise out" as well.
REALTORS DON'T MAKE THE MARKET....WE INTERPRET THE MARKET! OFTEN TIMES THE SELLER IS THE HIGHEST BIDDER ON HIS OR HER OWN PROPERTY. In other words, they believe it is worth one amount, but a buyer hasn't made an offer that high or an offer at all. When sellers decide to overprice above market conditions, they in essence, become the highest bidder on their own home. They end up keeping their home or buying it back away from prospective buyers.
Homes that SELL are competitively priced, in top showing condition and in good locations. When selling your home, make a conscious effort to rid yourself of all bias and personal subjectivity. Pretend you are the buyer. Would you buy your house in light of everything else on the market and how everything else is priced?
If you really need to move...DON'T BE THE HIGHEST BIDDER ON YOUR OWN HOUSE!!! Be thankful for fair market value and move on down the road.
If you really don't need to move...leave your home off the market!
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