Kathleen’s Market Snapshot!

In a recent article posted by the Daily News, members of National Assoc. of Realtors met on Capital Hill to discuss…once again….the real estate market.  Not good news and as we all know, it will take time to improve.

Greenspan said, ”Home prices are one of the biggest question marks in the economic recovery. How low can they go? Nationally, on average, prices have declined 30 percent. That’s been great for affordability, but it has been a blow to home owners who find themselves in a position of needing to sell while significantly underwater on their mortgages.”

“To exacerbate the problem, increased inventory of unsold single-family homes continues to depress prices, and if prices fall beyond another 5% or so, problems in the sub-prime and Alt-A categories will spill over into the conforming loan category, where defaults are still relatively low,” Greenspan warned.

Ok, enough bad news for the day. Here are some humorous facts, have a good week.

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Many years ago in Scotland, a new game was invented. It was ruled “Gentlemen Only…Ladies Forbidden”…and thus the word GOLF entered into the English language.

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It is impossible to lick your elbow.

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If a statue in the park of a person on a horse has both front legs in the air, the person died in battle. If the horse has one front leg in the air the person died as a result of wounds received in battle. If the horse has all four legs on the ground, the person died of natural causes.

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Q. If you were to spell out numbers, how far would you have to go until you would find the letter “A”?  One thousand

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Q. What is the only food that doesn’t spoil?

A. Honey

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In Shakespeare’s time, mattresses were secured on bed frames by ropes. When you pulled on the ropes the mattress tightened, firming the mattress.

Hence the phrase, “goodnight, sleep tight.”

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Many years ago in England, pub frequenters had a whistle baked into the rim, of their ceramic cups. When they needed a refill, they would blow the whistle to get some service. “Wet your whistle” is the phrase inspired by this practice.

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The house is yours !  In this market with so many first-time buyers struggling for their first home, let’s discuss some strategies for getting that offer accepted.

1. When writing an offer be  honest with your agent. Let them know your concerns, your comfort level regarding price and payment and most importantly if you really like the home. So often buyers are anxious and we as agents need to know your level of excitement so we can help you craft an offer that will be well received.

2. Always rely on your agent to present to you the market conditions. It is your agent’s job to collect the data, present it to you and offer their professional opinon. It is YOUR job as the buyer to pick the price you are comfortable with and a price you can afford per your lender approval.

3. Terms are a large part of any offer. If you like the house, but can’t make a strong financial offer, consider talking with your agent about better terms. Things that will grab the Seller’s attention. Closing time, good faith deposit, repairs. There are always financial and tax considerations that may appeal to a Seller and you as the Buyer may be able to offer those in the contract.

4. Always be willing to walk away. Do not get emotionally attached to any house until it closes escrow. Many times during negotiations you will find another home you want to see. A good agent will keep you informed of all properties up until the close of escrow.

Are you a Rainmaker?

Webster defines a rainmaker as ” One who is known for achieving excellent results in a profession or field, such as business or politics”

Do you make things happen or let them happen?

Are you actively pursuing your lifes goals and using your gifts to succeed?

Do you represent yourself to others with “Success” in your eyes?

You can begin by waking up each day with a positive outlook and a strong affirmation on your lips. Zig Ziglar lives his life with positive attitudes daily…..and he is thriving at 82 years of age. He has written many best sellin books on the subject….check one out today, www.zigziglar.com.

Now, I believe we can be optimistic, but also realistic. This economy is in deep trouble and needs serious attention. But we can certainly approach that solution with positive ideas and emotions.

As an investor in real estate this is the market to BUY. But many investors are finding difficulty in getting loans to purchase more than 4 properties.  There are solutions out there for investors who want to increase their cash flow and their net worth.

Checkout www.sjrei.net a local investment club that has valuable information for investors on how to make it happen using IRA funds and saving taxes at the same time.

Take the time to stay positive, get educated and together we can Make it Rain in 2009