To continue with my conversation about a Housing Bottom this Summer…. I mentioned I was not the only person who believed it could happen this summer (if it is not already happening now). Check this out… and then read below so you can take action too… before you kick yourself for missing the best buying opportunity of 40 years.
Reeling From the Rate Prattle
By Jim Cramer
RealMoney Columnist
As someone who is in the market for real estate pretty much every day in a multistate area, all of this talk about rates choking off the nascent recovery is almost unbelievable. These are bond people, probably many of them short, telling you things that simply aren't true.
In addition, they are trying to explain away an especially positive Treasury auction today, but I am sure it's just a matter of time as we are in one of those bizarre negative moments that we aren't about to shake.
Throughout this country people are living in fear that they aren't going to get the lower rates unless they act now.
I was out last week with one of the top 10 people selling higher-end real estate in the country. We were marveling how multiple buyers are coming back into the market because the affordability is so great and the rates are climbing.
I am reeling from this kind of talk from the press about no real estate bottom. There are many areas where prices are still falling but the era of the freefall is over. The area of stabilization is with us.
How could everyone you listen to be so wrong? They aren't buyers; they aren't in the market. If they were, they would be saying "The demand for money is so strong that it will be difficult for rates to stay low."
If unemployment levels off, this moment in time will simply be gone.
As someone who put in a bid last Friday for a building with four apartments — one I think I am going to get hit on tomorrow morning — I am putting my money where my mouth is and I am trying to box out other players at the same time — multiple players. I don't want to lose the place.
I guess the others bidding don't watch TV and don't know real estate is collapsing.
If only it were true — think of all the money I would save.
And now ask yourself…. what are YOU doing about this? Isn't it time for you to get off the fence and take action? Are you working our foreclosures.com lists to see the deals that are NOT on the MLS (so you don't have the bidding wars like Jim spoke of above)? Are you working my 7 Step system to cull the right leads, make the right calls, and do the right math, so you can buy foreclosures for 30-50% off today's already low market value? I hope so. If not, you need to get started NOW. Call Jim or Andy and they will help you out. 800-310-7730 x2.
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