Isn't this situation a little ridiculous?
Roy H. Williams, my all-time favorite "Wizard of Ads," asked the question in his Monday Morning Memo: "Will Fear of Risk Blind Your Client to Opportunity?"
It got me thinking about my own clients who have pulled in their horns, so to speak, because they're afraid of investing "before real estate bottoms out." These are the same real estate investors who absolutely mock stock market "timers."
Later in the day I was reading another favorite of mine--economist, author, actor and lawyer Ben Stein. You really ought to read his entire article in the September 3rd issue of FORTUNE magazine.
photo courtesy of jacque dee
(Click the link... You know you want to! But come right back.)
Okay, now that you're back, here are a couple of points to plaster on your wall:
1. Consumer spending will continue to rise. Since 1959 (the year before Itsy Bitsy Teenie Weenie Yellow Polka Dot Bikini) hit the top of the charts, there has only been one year (1980) when consumer spending actually fell, and it didn't fall far, even though interest rates were a quantum leap higher than they are now.
2, Real Estate is not a commodity like gold bullion, stock in Apple, Inc. or treasury bonds. The right house in the right market is going to continue to appreciate. Even the right house in the wrong market will continue to appreciate. The person who's expertise is most needed right now is my local REALTOR®.
3. It's not time to withdraw. It's time to NEGOTIATE. Dust off the titles on your shelf on negotiation. You still have them. Be a resource to your buyers and teach them how to negotiate.
That's a start. Sell some real estate this week. If you're in Tucson, call me for the loan. Go! Go! Go!