There are two types of clients in the real estate market today. They are called Stuck and Waiting.
Stuck is hardest hit. This is the person who’s home has dropped in value to an extreme degree and cannot make the move they were planning. There can be many reasons Stuck is in this position….. Priced home too high when the market was changing and didn’t adjust accordingly or waited too long to list home on the market. Stuck’s biggest problem is keeping a positive outlook and continuing to prepare to make their move when the time is right.
Waiting’s name is exactly that. Waiting is looking to see when the market will hit bottom to make the most out of their next purchase. The economy is affecting Waiting but not so much that Waiting can’t make their move when they decide the time is right. Waiting’s biggest problem will be making sure he doesn’t wait too long before the economy rebounds.
I’m reading articles daily that discuss the real estate market in very vague terms or there is a comparison of micro economies to illustrate extremes around the country. “Chinese are being bussed around to buy homes”, “Rust belt never recovered from the recession in the 80’s and 1 in 3 homes are vacant”
None of this matters to Stuck or Waiting. Neither have any need to hear about what is going on everywhere else. Instead, they need to pay attention to what is happening in their own micro economy and plan accordingly. Stuck needs to keep working, keep planning the next real estate venture and take time to look at his financial situation. This situation will not last forever so Stuck needs to focus on what he can change today so he can change his name. Today, Stuck is learning what went wrong in his circumstances and Stuck will never let it happen again. Waiting better be careful. Sometimes Waiting can wait too long because the longer the wait the more anxiety builds. That anxiety can leave waiting with nothing to show for those careful decisions when subtle changes happen in his micro economy. This situation will not last forever so Waiting needs to develop an action plan to carry out immediately. Does Waiting know what the next purchase will be? If Waiting has it picked out, Waiting should be discussing options with his Realtor. Waiting should also be aware that properties don’t stay listed forever so Waiting should be ready to engage in the transaction immediately. Whenever that should be.
A Lesson About Risk From The Big Boys
Neither Stuck or Waiting are acting like the big players in real estate. Take Donald Trump for example. He learned his lessons the hard way, like most of America right now, he suffered through mounting debt to develop one of the largest real estate empires. Through recessions, gains and losses, he never quit trying, he never gave up. Think what you will about him personally, he has made his mark (not to mention his wealth) in the real estate world. I’m not saying Stuck or Waiting have to be the next Trump. The point is the lesson we all learn from successful entrepreneurs experiences. Have your game plan and build your team.
“You can’t know it all. No matter how smart you are, no matter how comprehensive your education, no matter how wide ranging your experience, there is simply no way to acquire all the wisdom you need to make your business thrive.” -Donald Trump
Basically, you are only one person. Get help and don’t give up. Outdoor & Resort Properties provides the team you need to change your name from Stuck or Waiting to Successful. They have the experience to make your real estate circumstances change and thrive. Rock bottom prices on Short Sales and Foreclosures will not last forever. Didn’t we learn this lesson by waiting too long to sell our home before the bubble burst? You do not want to make that mistake again. The economy will rebound and Outdoor & Resort wants you to be successful when it does.
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Jeni Temen 