Published by admin on August 26,2009
Those of you that are getting into the real estate business have many of the same concerns. How am I going to pick a broker to work for? Where is my first client going to come from? What about post-licensing training?
Others worry more about the macro picture. "Is the real estate market going to go up?" "What are interest rates going to do?" "Will the economy improve?"
In my view, none of the macro picture matters. It isn't something we can change. We just have to do our best within the current economic climate.
That being said, there has been some big news over the last couple of days about the overall real estate market. July of 2009 saw a 9.6% increase in home sales. Home sales have increased for the last four months in a row - a sign that may indicate the housing downturn has come to an end.
It is unknown if this increase in sales is based on fundamentals or if it is an artificial increase based on the first time home buyer tax credit of up to $8,000 based on a home purchase closing before December 1, 2009. Time will tell.
The bottom line in my opinion is not to let the macro stuff sway you. A good friend and partner broker Tom Crosby of Coldwell Banker George talks about the fact that when he got into the business in the early 1980s double digit interest rates were the norm. Today, double digit interest rates would make us cringe.
Don't sweat the economy. You have to play the hand you're dealt.