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!
I'm Mike in Tucson, your preferred Tucson, Arizona mortgage lender.
Think of me as your local expert.
That's what I am talking about! I am ready to sell some real estate this week!!!
Oh, and I love your bikini-clad hippo :)
David, thanks for commenting!
Dawn, you go, girl!
Linda, too funny! Thanks for visiting and commenting.
Marlene, thanks for the encouragement. It's your gift!
Mike in Tucson
Hi Mike,
The content of your post did not even matter, I just got focused on that photo! Love it, love it.
Actually, the content was pretty good too. LOL.
Kris, I hope you clicked the link to the source! Thanks for commenting.
John, Active Rain accepts retired realtors, even at your tender age. Join up! Thanks for visiting and commenting.
Cynthia, the picture had me doubled over with laughter. Thanks for commenting.
Mike in Tucson
Yolanda, I'm glad to make you laugh! I hope you got past the photo to read the post. Maybe I should have left the hippo naked.
Ashley, thanks for visiting and commenting.
Mike in Tucson
Pat, you're most welcome! Thanks for commenting.
Ann, you and I could probably sing this from memory. I thought about inserting html code to play the music when the blog post appears, but decided against it.
Now is the time to buy. Thanks for visiting and commenting. If you get down south, let's have a cup of starbucks together.
Mike in Tucson
Great post and that hippo!!! That's hysterical! I agree with your post too. I sent out my monthly ecards today and reminded everyone it's not all doom and gloom out there. That there are still some great loan programs, even 100% financing for some. Now is a GREAT time to buy. Just like the stock market buy low, sell high!
Thanks for the laugh!
Sandy
Kathy: Don't you remember that song with a smile? Thanks for commenting!
Barbara Jo: You're welcome. I'm smiling because I made you laugh!
Sandy: Thanks for answering my question about the e-card.
Mike in Tucson
Jan: You might want to call them back. Here's a compelling reason to purchase now: At the same time rates are low, banks are becoming much more risk-averse. They are knocking down appraisals and requiring buyers to come up with a bigger down payment. Cheaper by a little doesn't matter if the house they wanted can't qualify for the attractiver financing terms available right now.
Mike in Tucson
Hi Mike, loved the hippo picture and thanks for the positive facts. We have to keep in perspective that markets are indeed cyclical.