The State of Real Estate - Weekly Update

In the past month, my friends, family, and naysayers alike have all begun asking about the real estate market. What they are really asking, many times, is how are you doing in this market? Honestly, my answer depends on who you are. The bones of my reply are always the same, but if you are a non-believer in the entrepreneurial spirit, I'll sugarcoat it for you some, just so you can't climb to the highest point of Frost Tower and shout, "I told you so!"

Now, if you are reading this, you probably know me and support my goals of rocking it in real estate. Therefore, you know that this market is no fun, for me or most other agents. I have also given you a straight answer about how it is affecting me, KP, our goals, and our future. And the disbelievers, I am sure you think I live in la-la land.

The truth is, the market is good. Prices are affordable, yet equity continues to build in most areas. Interest rates are the lowest they have been in four years, and the second lowest they have been in something like two decades. People can still get into homes with about 5% down, and the government has great incentives for first-time home buyers. All of that said, people are scared and are not buying.

Working in real estate, you hear, "you make your money on your buy," all of the time. No really, like twice a day. That overused statement means: If you buy at the right time, in the right neighborhood, for the right price, you will build equity at a fast pace. Then, when you go to sell, you won't need to ask for an unreasonable price in order to get your money's worth to buy a new home. You will get what you need out of your home in order to purchase your next good buy.

So, have I convinced you all to buy now? I didn't think so. Times are still scary, but this is when you will see the investors start to get more active, which is what appears to be going on. I do understand that buying a home is one of the biggest things people do (emotionally and financially), but logically, investing in real estate, whether it's your home or investment property still makes sense.

As for me, I have a couple of appointments this week that seem encouraging. I am keeping my head in this game. I do understand that I will need to supplement this work at some point very soon (and no, I am not going to work at Starbucks like order sis and Lukers would like), but I want to remain poised and available for the time when things pick up. It's just around the corner...