May

27

Real Estate Markets 2009 – Have We Hit The Bottom?

Filed Under Real Estate Investing | Leave a Comment

This post is about the past, and the future…

Starting with the past is was just a few short years ago that real estate investing was all the rage and everybody was doing it. It was a fad and it seemed as if you could buy anything, mark up the price, and turn it for a quick profit.

During these times everybody buying and selling was making money and seemed to be a genius. Over time people started to realize that investing fundamentals were being broken and a chain reaction ensued… and the bottom fell out of the real estate market.

Loans dried up faster than a desert oasis. Properties stopped selling quickly. Builders stopped building. And then people stopped making payments… then foreclosures… then REOs… and then prices started falling faster than a bad souffle (yeah… the “Kick Ass” guy used the word souffle)!

What began as a strong real estate market quickly turned into a buyer’s market and the housing market has taken down the US Economy. The idiots running Washington are clueless and if you are thinking they have any answers then know that I believe in Darwinism (survival of the fittest) and am hopeful your gene pool is heading towards extinction.

So the real estate markets have changed, new challenges have risen, and a new market is upon us.

Yes, we are in a buyer’s market but the question is for how long?

The Future. Have We Hit The Bottom?

Phoenix Arizona is one of the hardest hit falling real estate markets in the US and there is evidence that we have reached the bottom.

Let’s be clear… I do not believe in forecasting(guessing) so for me to even put in print that we may have reached a bottom is huge.

Here’s what I’m seeing that leads me to believe the bottom may have been reached:

1. Prices are trending up. Especially for properties under 200K

2. Inventory is decreasing. In the last 60 days their has been a major shift if inventory. Unbelievable.

3. REO’s are stabilizing. One agent I know of is getting an average of 8 offers per REO and people are in price wars.

When looking at the various stats for the market one thing has become evident… The markets are changing and strengthening very quickly. Even builders are coming back and Maricopa County (Phoenix) is seeing a rise in building permits.

And that’s why I’m so excited to share this news with you… The markets are changing and you need to participate if you are going to take advantage of what may be the end of the biggest buying opportunity we have ever seen.

It is very likely that we are at or just past the bottom right now. And if we are things then watch out when the lenders make it easy to get money again because their will be a surge in buyers!

Author: Gerald Romine

About The Author:
Gerald Romine is a nationally recognized real estate expert that has been featured across North America sharing the stage with political leaders, film stars, and business leaders. Since 1989, Gerald has been involved with real estate as a real estate agent, broker, rehabber, investor, and builder and has been involved with everything from houses to apartments. For more information about Gerald’s products or services visit www.kickassrealestate.com

May

4

Real Estate Investing Is Just Like Sex!

Filed Under Real Estate Investing | Leave a Comment

Some get it and some don’t! The metaphors are flying (and appropriate) so let’s get right into it. Sorry, I couldn’t help myself.

There are a lot of useful comparisons between real estate investing and sex so we are going to have a candid article with the intention of furthering your success as a real estate investor. If you’re a little squeamish you might want to surf to your next real estate investing website.

Great sex isn’t easy… ask anyone who has been the recipient of a mediocre experience. The concept is simple enough but the reality is most people are not very good and never will be unless they take the time to study and learn. Not surprisingly the better you are, the more success you will have, the better you will become, and you will become experienced and successful.   In fact, when you become skilled at your craft there will be no shortage or opportunities.

Same principle applies to real estate investing – you may be able to go out and get lucky once in awhile but if you want to have long term success you are going to need to learn how to solve the seller’s needs. In other words, you are going to need to have a specialized knowledge. Having the advice of knowledge from someone who has the investing experience is the quickest way to learn and become profitable as a real estate investor.

There is a famous Zen saying that is very appropriate: “To know and not to do is to not yet know.”  Whether we are talking about sex or real estate investing theory is not enough… you need to get out there and take action.  With real estate investing many people have dabbled in it a little bit but those that are truly successful have earned their success because they take action consistently as well as increase their investing knowledge.

Unfortunately there is a lot of misinformation and scams which can complicate things for those wanting to learn real estate investing. First, you should understand that all businesses involve selling and that includes those businesses selling real estate information or your business as a real estate investor.  In fact almost everything you do involves selling in one form or another and even a person working a 9-5 job is selling their time for money and the resume that got them the job was selling their benefits as an employee.

Who should you learn from? Who should you trust? Should you invest money? How much?  Those are all tough questions but the first thing I would tell you to do is to ask yourself “how much of your time and effort are you willing to commit to your success?”  If you are unwilling to commit a set amount of time and effort to yourself then don’t buy any book, course or system because if you are unwilling to work then no matter what you touch it will not work either!

But, if you are the type of person that is willing to make a commitment and take action then following a good “guru” will likely produce good results.  If you were new to real estate investing and asked if my books, courses, or software would make you successful  I would tell you that I believe unequivocally in my products and that they could help you but YOUR success is ultimately up to you.

It all comes down to common sense.  You might consider reading Real Estate Magic 101, How To Get Rich In Real Estate Even If You Are Dead Broke because that will give you a ton of information for a very low cost.  Then, if you are successful with that information and have results you may want to consider other tools and resources because they will likely give you even more success.  Another option before you spend any money is to sign up for a person’s free newsletter and real estate investing tips and get a feel for what the person is about.

In conclusion sex and real estate have a lot in common because what you put into it you will get out of it.  Nobody is great to start with but the skills and knowledge can be learned and with practice you can become an expert.

About The Author:

Gerald Romine is a nationally recognized real estate expert that has been featured across North America sharing the stage with political leaders, film stars, and business leaders. Since 1989, Gerald has been involved with real estate as a real estate agent, broker, rehabber, investor, and builder and has been involved with everything from houses to apartments. For more information about Gerald’s products or services visit www.kickassrealestate.com