As a real estate investor, are you suffering from this massive, global economic meltdown, or are you one of the thousands of investors who are actually taking advantage of this "Perfect Real Estate Storm" of opportunity?
You see, with unemployment rising, bank foreclosures skyrocketing and prices in most markets falling more than half from their peak, many investors believe that the market is dead. These investors are running around like a chicken without a head, desperately trying to close deals as they struggle to manage their existing portfolios.
If you're one of them, then it's no wonder why most investors today are packing their bags and leaving the market afraid! After all, in a recent survey polling residential investors, it was discovered that real estate investors today have many reasons to be scared.
The Top 7 Fears of Real Estate Investors Today
1. Lack of Cash -- Personal incomes are dropping. Unemployment is nearing record highs. Renters in movrup.com most markets are defaulting. Credit card companies are cutting the amount of cash available even for those who have amazing credit scores and always pay back on time.
2. Lack of Confidence - Many investors are lacking confidence in their ability to get through the next three years of this huge downturn. For example, many investors are finding that it's taking months to close a property deal. If you're working short sale strategies, because banks are so burdened with offloading inventory, you could wait six months just to receive a BPO (Broker's Price Opinion).
3. Loan Challenges - A friend of mine couldn't even refinance his house for a lower mortgage payment than what he's paying right now because the household income dropped since his wife's death. If he can't refinance his home for a lower payment, what do you think your chances of getting a loan are? What's more, banks have raised down payment requirements on residential and commercial properties to as much as 40%.
One way to know whether you've got a good agent (or not) is to consider some of the tasks and activities that a really good agent will manage for a client, then apply what you've learned to your own agent. If you don't have time to track down all of the things that a good agent should be doing for a buyer or a seller, then you're in luck: We've compiled a list so you don't have to. Michael Leduc
It’s hard to come by well-informed people in this particular topic, but you sound like you know what you’re talking about! Thanks Real Estate Agency Gran Canaria