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Heather OSullivan

Time Magazine says "Ignore the Headlines"...

By: Heather OSullivan
Monday, March 03, 2008 8:28 AM

Whether you are in the Apex NC Real Estate market, or elsewhere, Time Magazine says "Ignore the Headlines"...  (Read full article here: http://www.time.com/time/magazine/article/0,9171,1713483,00.html)

Great points and SO true. I applaud the writer for this article. It's unfortunate that too often "bad news sells". It's so easy for all of us to fall into the trap of buying into what we hear without realizing that it isn't always "reality", it's often just "a story" written for dramatic affect! And in doing so we allow our fears to cause us to miss out on great opportunities. 

I believe that it is our RESPONSIBILITY as professionals to educate our communities and clients on what is reality and what is simply "made up".

We have the power to turn the tide, the power to NOT be victims, or allow others to be victims of an "artificially inseminated" recession.

Blog on!

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Comments

Candice A Donofrio
Member Since '07

Candice A Donofrio said:

Thank you for posting this, Heather.  

Good news is the new bad news! Chicken Little's hopped a plane to the coast and quit running around lamenting a sky that's still blue and holding. I love it!

Welcome back, common sense. Belly up, I'll pour . . . ;)

March 3, 2008 7:50 AM
Gary Szolosi
Member Since '03

Gary Szolosi said:

Heather, shorten your link, you are screwing up the site because for some reason this site can not wrap text.

March 3, 2008 1:28 PM
Jana Davis & Virginia Houghton
Member Since '05

Jana Davis & Virginia Houghton said:

tinyurl.com works great for that...

Jana

March 3, 2008 2:25 PM
Chantal Gakwaya
Member Since '06

Chantal Gakwaya said:

Great article. I think we've reached the point where people need to stop trying to time the market. They need to start looking at long term investment. There are no get rich quick schemes in real estate.

March 3, 2008 2:52 PM

Guest

Mark Organek said:

In our Phoenix Metro Market, as well as other areas around the country, the drying up of lending options and mortgage insurance options has had a significant effect on home prices.  With loan programs continuing to tighten up on guidelines, liquidity has caused home prices to fall.  In some cases, we are having our borrowers purchase homes for less than 2003 prices since they are the only offers hitting the table.

There is one glitch in the article, however and it is a positve glitch:  When the Fed cuts short term borrowing rates, inflationary pressure builds up causing long term borrowing rates to rise.  The increase in long term borrowing rates will have to be reversed as buyers will not be willing to take the risk of a higher payment along with the potential for further market loss.  What do you do?  Buy anyway as long as the fundamentals are there in order to significantly mitigate overpaying for a home.  The beauty of the situation is that it has now become more important than ever for buyers and sellers to utilize the services of the professional agents out there like the networkers on this site.  Good luck using the article and make sure to point out that it is even more important to not try to time the market.

March 7, 2008 6:38 PM

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Heather OSullivan
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Heather OSullivan
Member Since '07

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