As if a gift from God himself to real estate investors, home prices continue to drop leaving a large supply of property on the market.
This is a “negative” announcement to be sure. The National Association of Realtors reported that sales fell by 2.6 percent last month to a seasonally adjusted annual rate of 4.86 million units. It hasn’t been that low in 10 years.
Real estate sales are 15.5% below where they were this time last year. There are a few more statistics which are equally painful to the casual observer. I’ll leave them to your imagination as I skip forward to the more important issues:
- This real estate market carnage MUST happen. Regardless of the foolish Housing Rescue Plan and other attempts to control the free market, the free market is still the only thing that can solve the problems facing our real estate market. And that’s exactly what’s happening with all of the blood-letting that’s going on right now
- To the astute investor who has some capital and a long-term time horizon, this is the most amazing time that one can imagine. Not only are there low prices on housing virtually everywhere, but there’s nobody else even trying to buy, so you have no competition.
My friend, the news about the real estate market is undeniably “negative”. But the opportunities that these circumstances bring are nearly limitless.
Don’t let 10 more years pass before you take action in the real estate market. If you do, you’ll look back on these days as the time you wish you would have pulled the trigger.
Thank you for reading FreeRealEstateTraining.com!
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1 Comments So Far»
The National Association of Realtors (NAR) is always extremely reluctant to say anything negative about housing. They want LISTINGS. They want COMMISSIONS. They are always “spin doctoring” the news to encourage more listings. If NAR is saying housing is down, then you know it’s VERY DOWN.
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