Blog Spot

**The Subject Line above is from a post I'll be writing in the summer of 2013 or 2014, but it's one that 's coming. Before I go any further, how weird is it that the year 2013 is only two years away?

Now, back to the future....Call me an optimist(If you do, and I don't turn around, I'm not being rude. I'm just not used to being called that), but I absolutely believe that in the next two or three years, the U.S. will see a buyer's market that will be bigger than any preceding one.
Let's look at a few things:

Real Estate Is A Market
We've all kind of forgotten that real estate moves up and down. We all know that Nordstrom has sales. Damned if they don't send those annoying notices in the mail! And Men's Wearhouse has sales at the same time every year. We expect their prices to go down. We WAIT for their prices to do so. We also know they will go back up. The only difference is that they have big signs telling us when their prices will go down and up. Here in the real estate world..wellllll, not so much.

Real Estate Is Really Cheap

Affordability is at its highest level in decades. And that isn't just in Saginaw, Hazleton and Roswell either. Affordability is up nationwide. Pricing isn't an issue now, lending is. Between the government's over restriction of the brokering channel, and the big banks' lack of responsiveness to the needs of the market,LENDING is the issue. For more on the pleasure of dealing with BofA, CLICK HERE. The good news is (Here I go being an optimist.God,that's uncomfortable), banks will eventually relax their standards. True, your home loan may take 3 or 18 months to obtain, but they will lend. To survive, banks have to lend. Hubris only keeps you in business for so long. Oh, what the heck, CLICK HERE for another BofA link.

Our Kids Are Smarter Than We Are

Luckily, there is a growing part of our market that has never been effected by the worst real estate market in 90 years. Right now, part of that market is in her room doing Chemistry home work. From when the this market first crashed until 2013 or 2014, there will be millions of young buyers flooding into the market. They will find the best deals on houses any of us have ever experienced. Whether they have been old enough to buy..or even old enough to drive, it doesn't matter. They have been smarter than all of us. They will be the demographic that brings this market back.

So if you'll excuse me, all of my optimism has me a bit unsettled. I think I'll go back and call BofA and ask about a loan condition they haven't received ..4 DIFFERENT TIMES! I can feel balance returning already!