"How's The Market, Nate?"
Posted by Nate 9/7/07
Who to believe, a specialist or the media? Do you believe the headline or the content? I have always been a cynic of mass media, especially what is on the news on television, because you never know what to believe! The only people I tend to truly believe are the stories from those "on the streets" or "in the battlefield".
I have been approached more than ever in my career by friends, family, and clients asking me "how's the market?" Before I respond, this question now is more than just an ice-breaker to an opening of a conversation. It is reality and they really want to know what the heck is going on.
Why not? Everyone else (i.e. media) says real estate is going down the proverbial toilet. I SAY "NAY!" The market is still okay. The person who holds the power to this question is your lender. They are monitoring this with a fine tooth comb. The same products that were there 6 months ago to buy a house, just are not there.
So, we are talking about the Bay Area everyone ( Or, what Woody, Tony and Ravi on Live 105.3, the Yay Area). Keep this in mind. It is not Vegas, not Merced, not Phoenix, or even Florida. We are blasted in our LOCAL newspapers with words of negativity. The culprits, Chronicle, Examiner, Mercury. But, do you read the headlines or the content?
Our answer to everyone is the same...the market is doing well. Homes are still selling and inventory is generally still low for this time of year. Today we are experiencing what the seasoned agents are calling a "normal" market - A fair and balanced playing field, where with effective pricing and great marketing, buyer's and seller's can come together and negotiate a sales price.
Friday, September 07, 2007
Monday, August 27, 2007
Friday, August 10, 2007
Mortgage Woes and How We Are Here to Protect You
Recently, the Mortgage and Real Estate industry is being bombarded in the media just like Barry Bonds and his alleged use of steroids - all negative. For those who do not know us we are not one's to really dwell on anything negative and really try to stay upbeat.
We read about it in the news, other online blogs, watch it on TV. And we even get to watch "Kramer", who is that nut on MSNBC, lose his mind. Seriously lose his mind.
For those who have not heard, the lending industry is in a pickle. Private sources of credit (i.e. banks) have dried up or severely tightened their lending policies because they are being burned in the mortgage-backed securities market. Loan brokers also encourage buyers into risky subprime loans and now they are forced with climbing rates and a change in the economy. What does this mean for many homeowners who bought into these loans - FORECLOSURES. But all in all, it is pretty complicated and we would be more than happy to discuss any of this with you.
This is a time when experience really matters - from your Realtor and Lender. Expert advice is crucial in times like this. Remember that seasoned agents were there when the rates were up to 16 percent at one time and made things work, safely and with security. We also encourage that you ask us for who we recommend for a lender. We have built a strong referral network with qualified individuals who can make sense of all of the madness and most of all...stay positive, so you can still sell and buy your home.
Recently, the Mortgage and Real Estate industry is being bombarded in the media just like Barry Bonds and his alleged use of steroids - all negative. For those who do not know us we are not one's to really dwell on anything negative and really try to stay upbeat.
We read about it in the news, other online blogs, watch it on TV. And we even get to watch "Kramer", who is that nut on MSNBC, lose his mind. Seriously lose his mind.
For those who have not heard, the lending industry is in a pickle. Private sources of credit (i.e. banks) have dried up or severely tightened their lending policies because they are being burned in the mortgage-backed securities market. Loan brokers also encourage buyers into risky subprime loans and now they are forced with climbing rates and a change in the economy. What does this mean for many homeowners who bought into these loans - FORECLOSURES. But all in all, it is pretty complicated and we would be more than happy to discuss any of this with you.
This is a time when experience really matters - from your Realtor and Lender. Expert advice is crucial in times like this. Remember that seasoned agents were there when the rates were up to 16 percent at one time and made things work, safely and with security. We also encourage that you ask us for who we recommend for a lender. We have built a strong referral network with qualified individuals who can make sense of all of the madness and most of all...stay positive, so you can still sell and buy your home.
Monday, June 25, 2007
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