Hang in there-it's going to be a bumpy ride!

By
Industry Observer with Environment Control MLO#109666

Good morning! I was just thinking about the state of our economy and the worldwide economy for that matter. Today the Dow Jones Industrial Average is down over 400 points and broke the 10,000 point barrier for the first time in a while. Obviously, the $700 billion governement bailout did very little to assuage the public's fears.

It appears we're in for a bumpy ride. Credit remains tight and corporations are laying off workers. Still, I think it's important that we hang in there and support each other. We may have further bad news before things get better, but eventually they will. And those of us who stick it out will be handsomely rewarded.

My prediction? Expect a slow rest of the year and possibly into the first half of next year. We're going to have to get used to a new President and it's obvious the banks need time to solve their ills. I still believe that next Spring or Summer will reward us in the real estate business. I'm hearing good news in certain parts of the country (think Los Angeles and Las Vegas) as far as home sales go. Statistically we've been down for close to 2 years now and an upward trend is just around the corner. Will it be a big move up? No, but we will welcome the uptick. For those of us left, there will be numerous opportunites as the playing field has diminished greatly.

So hang in there! Let's all encourage each other to keep going. After all, an acquaintance of mind mentioned over a year ago that "people are always buying and selling real estate. So true. Have a great and prosperous day today!

 

Paul

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Rainmaker
182,846
Lewis Beynon
Prime Property Solutions, LLC - Clifton Park, NY
Clifton Park NY Real Estate

We MUST stay positive because we know the media won't!!!!!!!!!!!!!

Oct 06, 2008 12:26 PM #1
Rainer
58,547
Cindy Leiterman
Resource One Realty, LLC - Green Bay, WI
Green Bay, WI

I agree.  Hang in there.  It will get better.  We still have listings and we still have buyers.  I've had enough of the gloom and doom.

Take care.

Oct 06, 2008 12:28 PM #2
Rainmaker
1,869,118
Gabe Sanders
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks Paul, I couldn't agree more.  Though I certainly don't blame the media for what's going on. 

Oct 06, 2008 12:29 PM #3
Ambassador
452,158
Paul McFadden
Environment Control - Kent, WA
Janitorial. Kent, WA.

Gabe: Thank you. I appreciate it. Good luck to you!

Cindy: I appreciate your sentiments. I'm also ready for positive results1

Lewis: The media reports stuff of interest. Unfortunately I guess we all like sensational news these days!

Have a great week!

 

Paul

Oct 06, 2008 07:15 PM #4
Rainer
116,572
Bo Hussung
Bell Title /Triserv LLC - Nashvle, TN

Paul, my main man!

Great post, very encouraging. We all need it!

Bo

Oct 09, 2008 06:17 AM #5
Rainer
107,665
Karl Peidl
Moorestown, NJ
Accredited Loan Consultant

Paul - I completely agree.  We just need to weather the storm.  Great success awaits those left standing.

Oct 09, 2008 12:53 PM #6
Rainer
73,912
Sarah Eubanks
Hill Valley Financial Services - Oregon City, OR
Preferred Oregon Loan Consultant & Notary Public

Paul, thank you for the encouragement.  It clearly is getting worse before it gets better.  That being said, there is always a light at the end of the tunnel and there is always HOPE!  :-)

Oct 09, 2008 05:06 PM #7
Ambassador
452,158
Paul McFadden
Environment Control - Kent, WA
Janitorial. Kent, WA.

Thanks, Sarah. I appreciate your positive attitude.

Karl: I plan on being one of those! Take care.

Bo: Thank you. Actually you're the man. Have a great day!

 

Paul

Oct 09, 2008 06:25 PM #8
Rainer
54,602
Keith Manson
First Weber Group/short sale/cdpe/gri - Muskego, WI

All you can do is focus on the things you got to do to prepare for the future.  Use this time to make a dent in the market and your relationships.

Oct 09, 2008 08:48 PM #9
Rainer
22,922
John Bethell
John Bethell Title Company, Inc. - Bloomington, IN

Paul: I think you're correct about when this thing will turn around. There's lot of chicken littles in the media. A some point what's happening will become old news and they'll move on to the next hot issue. Then we'll start heading back to normal.

Oct 10, 2008 05:10 AM #10
Ambassador
452,158
Paul McFadden
Environment Control - Kent, WA
Janitorial. Kent, WA.

Thanks, Keith. That's what all of us are trying to do. Have a great day!

John: Thank you. It may take a while to get back to normal but we will. Take care.

 

Paul

Oct 10, 2008 07:27 AM #11
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