Wednesday, April 1, 2009

A Real Estate Agents story of the Real Estate Market

I went to Real Estate School at Century21amber realty in Torrance in 2002. I passed the Test and was Put out on the Floor to go to work and Told "If you do what your told and just work" Things will happen. Meaning, I will have business and will have Real Estate Transactions. So, I did that and to my amazement, It was true. It did happen. I had business right away. Just like the law of Cause and Effect. My efforts brought me business. But in 2002 the Prices were low and the market was going up it was just the beginning of a Booming Real Estate market. It was easy to get business buyers came and bought homes. And was I lucky because if I had to start in Real Estate in a declining Real Estate market such as the one we have been in lately, I probably would have given up. My buyers came from many sources. I did'nt even know how to market, I was a beginner most of my deals came from open house leads and penny saver adds. As the market prices climbed the frenzy of buyers bought homes over full price again and again from many agents and myself as i watched. Many Properties had 20, 30, and more offers at the same time well over full price. This is how the market prices got so high. Eventually The market Peaked out and buyers stopped buying, they got scared, they had a sense the prices were too high and also many could not Afford it anymore or just refused to. The Real Estate market first came to a slow down and then to a complete stop. The year the market turned as one of my worst years in Real Estate. It was a lesson to learn. Homes did not sell any more and the market had some crashing drops in price again and again. major drops in property value happened. people stood on the sidelines and just watched as the market went down. Many homeowners all the sudden lost their Equity. Anyone that bought property at this time, watched as the values declined and People everywhere started having foreclosures, shortsales dominated the MLS and Real Estate market. Then next REO properties started coming on the market. The Whole Real Estate market all the sudden was flooded with REO properties and short sales and still is today. The Only difference is the property values are much lower. Just like they went up as the comparable sales did the values go down as the comparable sales go down. One good thing though now that the Real Estate prices are lower, mortgage payments are more affordable and attracting people to buy again. It is Incredible to me after watching the changing market prices how much loss the banks accept in this time of shortsales and foreclosures. It is as though money is just a number. Now that the property values have gone down the money or equity that was their at one time is just gone, it disappeared into thin air. The market took about two to three years so far to correct itself and it has been a long two to three years. One thing I notice during this time is that the stock market crashed down right after the Real Estate market. I know because I bought stock after I went in to Real Estate and as the market declined so did my stocks. I then scaled in after the stocks dropped and accumulated shares at the bottom to try and make up for it.....Now that the Real Estate market has declined Smart buyers are starting to come out of the woodwork to buy again....To take advantage of the new low property values. It is once again The time to buy Real Estate. I have red in a few different books and online that these are the times to get rich. While the economy is bad and the Real Estate market is low and the stock market has crashed, this is the time to take advantage while you have the opportunity and when the market and the economy comes back and gets stronger you could have some gain........This is my Real Estate market story. If you have any questions you are welcome to send them to me.... Also check out my Website at Also make sure to check out my new Online Venture a Website I just started I'm in the start up process with this project. I have many products on this site. Some you may even like visit my site at:

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