What's the problem with Real Estate? What's the opportunity?

Let's face it, when properties were going sky high it was a foregone conclusion that there had to be a crash. We all know now that is exactly what happened. We know about the short-sales going on and the foreclosures. But, do we know what an opportunity this is to start over?

Think about it. Prices came down, a lot! Interest rates are still low, even as they are slowly rising, they are still a bargain. Five percent? I remember when interest rates were 16%. It didn't stop people from buying, just cut out a large segment of available buyers. When those interest rates were high, the kinds of mortgage programs available were restricted and everyone needed to put 20% down. Now, the mortgage programs available are much more flexible. Twenty percent down is desirable, but not necessary, even though the requirements for a person to be approved are as strict as there were back in the day.

Taking the availability of mortgages (banks are waiting for people to come in wanting a new mortgage, the money is there) and taking the low house prices, it's a buyer's heaven.

How does that affect sellers? We know the suffering of people who bought their houses at the height of the market as I mentioned earlier; short-sales, foreclosures. This has not been a pretty picture. However, anyone who purchased their homes before the sharp rise in prices, if they did not cash out on their equity, still will make a profit on the sale of their home.

Also, if they need to move up, get a larger home, this market actually works in their favor. They may sell their home at a loss, but the larger home they buy will be a deal and the equity is already built in to the new home. The difference in the new equity will outweigh the loss of the previous home. It's a great opportunity.

In conclusion, this tough time in Real Estate is both a problem and an opportunity. It shouldn't be feared, it should be welcomed as a time to re-adjust our thinking and our actions.

Stuff

Watch this 20 minute video about "Our Stuff". It's very interesting, informative and simple to understand. It's worth every minute.

http://www.storyofstuff.com/

How Different Are We?

How different are we really from our Chimpanzees. Check out this interesting article.

http://www.sciam.com/article.cfm?id=what-makes-us-human

A sad reality for our animal friends

Unfortunately, we humans and our need for "territorial dominence" and our fear of violence caused by other non-caring human beings, causes such hardship for other creatures in the world.

http://news.nationalgeographic.com/news/2009/04/photogalleries/us-mexico-border-fence-wildlife/index.html

Technology Spies

This is pretty scary stuff. If we are to have security in this country, I would think the first place we need to secure is the technology to be used for our medical files and our electrical grid, etc.

Check out the article from BBC. http://news.bbc.co.uk/2/hi/technology/7990997.stm

Need a place to rent in Norwalk, CT? Check out this link for information on an available apartment. http://cmls.rexplorer.net/REX$PUB/06/12506/pub/pub_3211616274.htm