As the market has changed David Emerson, a 25 year real estate veteran compared his profession to a doctors’ saying “You go from being like a doctor who delivers babies in a booming real estate market,” he said, “to being an oncologist just giving people bad news all day long”. 

I certainly find a lot of truth in this quotation.  As a twenty five year real estate professional, I have seen a once warm and fussy and full of joy profession become treacherous, difficult and changing everyday.  Success, Experience, it matters, now more than ever in the real estate world.  Whether buying or selling let’s talk about the health of your real estate.

I think for my entire life I have heard humans need eight glasses of water a day to remain healthy.  I wonder just how many people followed this sage advice.  I know I probably did not, but rather drink water when my body tells me to.  So after a life time of this believe the American Medical Association concluded last week that 8 glasses of water a day is not necessary and one should drink water when the body demands.

In today’s real estate market one hears all kinds of advice from relatives, neighbors, doctors, physiatrists, gardeners, and the guy who pumps gas.  Well, it is time to take action on your own and listen to real estate professionals.  There may never be a better time to buy than right now.  Everyone is wondering what is going to happen in the future instead of focusing on what is happening right now.  The fact is that prices have dropped in some areas about 20% from a year ago and inventories have forced this issue.  Listen to the market as you listen to your body when it needs water.  It is time to buy when inventories are high and prices are down.  The market has had plenty of water and it is time for real estate to catch on fire. Don’t get burned.

Please call me for an appointment to consult with you concerning your real estate needs, whether buying or selling in the Coachella valley. My personal cell number in 760.831.5996

And please remember to drink water when your body demands.  That is certainly good advice.

Everyone wants to know when the real estate market will turn around including me.  Friends and customers continue to ask and I usually say “I don’t have a crystal ball”.  How trite is that statement?  Anyway I have decided today to make a couple of wagers.

Number one- I am betting on  Big Brown to  win the Kentucky Derby on May 3, 2008.  Since Big Brown won the Florida Derby, I think he is a good bet.

Number two-  I am betting it is time to buy well priced homes.  Since statistics for February have shown that residential real estate sales edged up about 3% and prices where down 20% in some areas over last year, it is time to start thinking that the real estate market may be close to the bottom.

I will be placing a $2 wager on Big Brown.

Likewise, I will be placing a $2 wager that the real estate markets will turn around by the third quarter of 2008.

It is time to buy.  There are some great buys in Palm Springs, especially in new construction and it seems that it is a good bet to buy now before the best of the lot are purchased by others.  Remember never try to hit the bottom nor the top of any market because odds are you will not succeed.

Take these bets to the bank!!!!

As the political climate heats up, discussions on the economy by the three remaining candidates is grabbing headlines and lead off stories on network news.  NBC network news with Brian Williams started the news with the statement about the economy stating “A landscape loaded with doom.”  He was referring to consumer confidence which has dropped to a five year low.  Obviously, consumer confidence affects every aspect of our society from car washes to real estate sales.

Concerning the current state of the mortgage business John McCain stated he was “committed to the principal that it is not the duty of the government to bail out and reward those who act irresponsibly whether they are big banks or small borrowers.”  On the other hand Obama and Clinton have criticized mortgage lending practices and have called on government organizations to provide relief to homeowners. Hillary Clinton has stated she would work to keep people in their homes making available $30 billion to prevent further foreclosures. One idea from Clinton would be to freeze interest rates for 3 to 5 years. Obama felt that would benefit the rich.

Supporting any idea of an interest rate freeze brings up numerous questions and concerns, but I do not think that this freeze would benefit the rich, but middle class Americans who will be facing large interest rate increases in the next couple of years as there interest rates adjust. Maybe a loan limit should accompany an interest rate freeze to make sure any relief package would not benefit the rich.  I know I will have a rate increase on my mortgage in December 2009 and I am not among Americas rich.

I agree with Hillary.  Let’s keep Americans in their homes.

I also agree with John McCain that it is not the job of the government to reward those who act irresponsibly, but what about all the people who got caught up in this mortgage debacle that have not and are not acting irresponsibly.  Should the government help?I think it is inevitable that some relieve will come from the government.  The big question is what will be fair and equitable to all those caught up in this current mortgage mess.

What do you think?