The New World Order and Today's Real Estate Market

Today's real estate market is really an overdue correction that just happened to coincide with a global economic crisis. Most buyers didn't have time to enjoy the long awaited buyer's market before being faced with a complex market model resulting from the economic crisis.

What does this mean for you?

Listen up for a reality check. These market conditions don't have to be negative, but you do have to be real. Let us help you read this market and we can help you move through it.

It's true . . .buyers have the choice of many properties right now, but when they do finally decide on one, price flexibility is going to be harshly offset by newly minted bank restrictions. These new restrictions are being felt across the income spectrum as a direct result of the current economic crisis.

In turn, sellers have to deal with buyers who are under pressure from the banks and not sure whether or not their own homes will sell for anywhere near where they need the price to be in order to make a successful new transaction. These pressures combined with sellers needing to realize a particular price point in order to satisfy their initial goals, makes the need for a real estate professional with integrity and a real handle on your particular strategy, a must. This kind of market will naturally flush out those professionals who are not able to deliver results and highlight those with integrity and that have the client's best interests at heart. This is not a time for self serving Realtors.

Banks are insisting that new or existing clients comply to a new set of financial criterion. Clients with excellent previous financial and credit history with the banks are now having to re-establish themselves and their financial credibility like never before. No one wants to talk about this, but it is happening.

A good realtor is able to guide you through this new reality and has the right connections to trusted mortgage brokers who are creative and capable of working with financial instruments not seen in many years. Instruments not used in recent markets such as Vendor take backs (where a seller sells the property to the buyer and then offers to finance a portion of the purchase price at a particular rate, rather than the buyer going to the bank) are becoming more common place again.

A large group of sellers and buyers have never experienced a market like this and are not prepared for mortgage renewals with much higher interest rates. When this happens, you need Realtors, mortgage brokers and bankers who are willing to help you make the best buying and/or selling decision you can in the current conditions. Your most valuable asset is now being used to move you through the next phase in our economy and has to benefit your family situation at the same time. Make the best move you possibly can, feel good in that decision and hold on until the market comes back.

People always have to buy and sell homes, even in the current complex market. However, the ones who will be successful in this kind of market are the ones who are realistic and willing to work with industry professionals who are not afraid to tell the truth about what this market holds. Designing a specific strategic plan and sticking to it will prove profitable to those who can follow through. Anyone can work a buoyant market. To be successful in our present market, choose a realtor who is willing to commit to you and your goals in a real way.