Must we endure yet another year of housing crisis? What choice do we have? No amount of optimistic projections and statistical manipulation can remedy this protracted housing pain. Historically speaking, five to seven years has been a standard interval for house prices to stabilize following serious corrections. By that measure, the worst should be behind us.
There is some good news: Mortgage rates remain at their lowest point in nearly 60 years, and prices are settling in several markets. Real estate is becoming more affordable and needs-based instead of speculator-driven, making a home primarily a shelter once more.
Meanwhile, some see another year of value declines in 2011, perhaps up to 7 percent. Several more waves of adjustable-rate mortgages are set to ratchet upward for homeowners in 2011. "Strategic defaulters" are surrendering their upside-down loans as a financial strategy, not because of extenuating circumstances. And unemployment remains stubbornly high.
Yet, people still move up and still move down -- buying and selling homes to meet those ends. For them, here they are
Buyers and sellers: Set your goals in writing
Certainly you should get all relevant real estate promises in writing, but that's not where we're headed. Keep a log of the entire process of buying or selling a home, including your objectives, home-tour dates, buyer and seller feedback, offers, expenses, contracts, repairs, contractors hired, agent communiques, neighborhood observations, everything. It will give you a clearer picture of what you've done, what you're doing and what to do next. Studies have shown that goals are more likely to become reality if you write them than if you don't.
__________________
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Must we endure yet another year of housing crisis? What choice do we have? No amount of optimistic projections and statistical manipulation can remedy this protracted housing pain. Historically speaking, five to seven years has been a standard interval for house prices to stabilize following serious corrections. By that measure, the worst should be behind us.
There is some good news: Mortgage rates remain at their lowest point in nearly 60 years, and prices are settling in several markets. Real estate is becoming more affordable and needs-based instead of speculator-driven, making a home primarily a shelter once more.
Meanwhile, some see another year of value declines in 2011, perhaps up to 7 percent. Several more waves of adjustable-rate mortgages are set to ratchet upward for homeowners in 2011. "Strategic defaulters" are surrendering their upside-down loans as a financial strategy, not because of extenuating circumstances. And unemployment remains stubbornly high.
Yet, people still move up and still move down -- buying and selling homes to meet those ends. For them, here they are
Buyers and sellers: Set your goals in writing
Certainly you should get all relevant real estate promises in writing, but that's not where we're headed. Keep a log of the entire process of buying or selling a home, including your objectives, home-tour dates, buyer and seller feedback, offers, expenses, contracts, repairs, contractors hired, agent communiques, neighborhood observations, everything. It will give you a clearer picture of what you've done, what you're doing and what to do next. Studies have shown that goals are more likely to become reality if you write them than if you don't.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125