Osceola ReVIEW - May 2008 - (Page 3)

President’s Perspective By Hope Andrews HOW MANY PEOPLE HAVE YOU TOLD TODAY? I see reports on the Internet, in the newspaper and on television about how “bad” the real estate market is right now. However, now I am seeing and hearing about two and three offers on properties that are for sale. While interest rates are historically low, the smart investor is now buying and consumers who could not afford to buy for the last several years, are now out purchasing property. Last month there were 75 more closings in Osceola County than in the month before. Of course, the properties receiving these multiple offers are priced to sell, but this still translates into a great market for buyers. As we can now see with 20/20 hindsight, the really “bad” market was in 2004 and 2005 because it resulted in a buying frenzy that drove prices beyond the reach of most consumers and had them buying property they could not afford which resulted in people taking out loans that made no sense in the long run. In the latter part of 2007, the selling and buying of homes seemed to grind to a halt, but now there is concrete evidence that the market has reached a point where buyers are returning. However, to keep the buyers coming, we must continue to keep telling as many people as we can about what a great time it is to buy real estate. Whenever I tell someone that I am a REALTOR® the normal response is to comment on how bad the market is. I always remind them that it is a great time to buy. Sometimes they seemed surprised by this statement, but without exception, once I explain why it is a great to buy, there is no disagreement. May 2008 Osceola ReVIEW Many investors or home buyers say they are waiting for prices to hit bottom before they buy. Remind them no one knew when the price increases of 2004 to 2006 ended. There was no general announcement. No bell went off. No one really understood there had been a change until about six months after it started. No one knows exactly when prices will hit bottom. In fact, it may have already occurred, and I point to the multiple offers on certain properties as evidence of this possibility. Let your buyers know the deals are there now. There is no guarantee they will be there six months from now. History has shown that there is no better investment than real estate. In fact, if the property was not purchased in 2004 to 2006, you still can sell your property right now and make a nice profit. The Association has pursued an advertising campaign to let the consumer know that it is a great time to buy. The challenge to REALTORS® is to get the word out and to combat the news media conveying the perception that it is a bad time for real estate. I am hereby asking each one of you to tell at least one person each day that it is a great time to buy real estate. If we all do this, it will turn the tide and bring back a normal market where both sellers and buyers will be happy at the closing table. ■ 3 http://www.inspectvue.com

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Osceola ReVIEW - May 2008 President's Perspective CEO Perspective Communication News Education Corner Commercial Real Estate Association Newsmakers Legal Ease Sponsors May 2008 Monthly Planner

Osceola ReVIEW - May 2008

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