Tuesday, March 22, 2005

The Ever Changing Real Estate Market

At no time in my long and successful career has it been such a confusing real estate market. Multiple bids on properties at one moment, to a flood of properties causing price reductions, and back again. Yes, the shortage of properties is back in style, the brief buyers market over, and it is advantage seller all over again. Will it last? If I had the answer to that I would be chugging margaritas in the Bahamas, never to work again. Only one thing is absolutely sure, that with a marketplace changing on a dime, the only sure and predictable thing is that investing in real estate will ALWAYS pay off! Maybe not in the short run, but real estate was never for the meek, unsure or the nervous. But i t is always a sure thing in the long haul. I ask you as a homeowner, what did you pay for your real estate, and when, and what is it worth now? The very question and its answer is its own proof.
So what to do in this ever changing market? Buy if you can, as much as you can, and the sooner the better. I feel truly bad for those who have been convinced that if they wait, prices will drop. The only thing that will drop is their chances of buying at the best time...and that time is now.
Also, sellers need to be alert in this ever changing market. Beware of cut rate commissions that place your property in the exclusive hands of a few, and check and double check the comparable sales in your area. Nothing makes as little sense as paying a smaller percentage to sell and losing the true value of the property. The old adage that you get what you pay for is almost an oxymoron, for you don't get what you pay for if you trip over the dollars to save pennies.
All in all this an exciting time. Interest rates are still low with a multiple of loan programs to fit almost everyone. Never has being an entrapeneur been so available to so many. Come join their ranks.
Happy hunting

Linda Freeny

Linda Freeny, along with her husband, Bob, owns California Oaks Realtors, and` Seaward Mortgage.


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