1 Million Foreclosures in ‘09…so far
June 4th, 2009 categories: Market Commentary, Sacramento Foreclosure Statistics
2.4 Million Foreclosure Starts Projected for 2009
I’ve always thought of myself as the “feel good” Realtor. I felt that my primary function was to watch out for the best interest of my clients and represent them as the law states by a code of ethics I’ve agreed to uphold. I still feel that way but I’ve had to make a shift in my perception of this business. I guess that’s the toll the “bad market” has taken.
This is tough, folks. I know I’m stating the obvious but it just doesn’t look like this thing is going to end anytime soon. All the indications point to that this will be “normal” for the next couple of years. While I would prefer that we return to a moderately appreciating market where there are good values and people are prospering, I don’t always get my way. Damn it! 
What Is A “Normal Market”?
I’ll be damned if I know the answer to this question but I have a perception based on my experience. I’m in my 8th year in this industry and the only thing I can say about it is this:
A “normal” market is one that is always changing from one end of the spectrum to the other, sometimes in the extreme but generally within limits.
The real estate market flucuates, ebbs and flows, ups and downs. There is no time when it just sits there and does nothing although it appears to on occasion.
There are no bad or good markets. A manager I worked with at Del Webb/Pulte Homes used to say to me, and still does, bless her heart, that “it just is what it is and we have to adjust to be successful”. Never better said, “….we adjust to be successful”.
That’s what is needed now. We’re making adjustments to be successful in this or any market. The only difference, so it seems, from market to market is the adjustment that must be made to take advantage of the current opportunity.
What’s the Current Opportunity In The Sacramento Real Estate Market?
Here are the facts:
1. Interest rates are at historic lows.
2. Values are at 7 to 9 year lows.
3. There is NO community in the Sacramento region that hasn’t lost value to some degree.
4. You have to be qualified to get a mortgage to buy a home. You’ll need a down payment of some sort unless you’re going to finance VA.
This all adds up to the fact that purchasing now COSTS LESS than it has in years. It’s a perfect time to build wealth in real estate.
How this add up for you? It adds up to a buying/investing opportunity to me. If you’re purchasing or investing in Sacramento real estate and need a Realtor with experience in Sacramento and Placer counties, please feel free to contact me. 916-532-7653.
Thanks for visiting!
Source: WSJ
Related Posts
No related posts.
