New Years Predictions (Part I)
December 28th 2007 Posted to Bonuses, Holidays, Industry Trends, Personal Thoughts, Real Estate Market, Trends
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I’m happy to be ushering 2007 right out the door! Sure, we’ve had a great year in our business. I’ve worked with some of the best minds in real estate, marketing, internet, seminars, etc. But… we’ve also had our share of headaches this year too.
So… we are out with old and in with the new. We’re taking the next ten days to clean out, empty out and start fresh! So far, we’ve got over 9 bags of paperwork ready for the shredder, the house is being cleaned from top to bottom and the office is getting a MAJOR overhaul.
Plus, we’re putting the finishing touches on lots of new things that we’ll be rolling out in January for YOU!
So… What do you think is going to happen in ‘08? Here are a few of my own predictions!
Visit the blog to see Part I of our predictions (and by all means, please feel free to add some of your own!)
1. Increase in Foreclosures…
We’re absolutely going to continue to see a rise in foreclosures, but I think the lenders are going to start working with us…
2. Change in how ‘deals’ are structured
I think we’re going to seller financing and owner held mortgages coming back. We’ll see more and more lease options.
I think lenders are going to back down and start working with buyers and investors before they get in the business of property management.
I think that people are going to get more and more internet savvy and that it’s going to be more critical than ever to become “RealEstate 2.0″
5. Market will level off
And I do believe that we’ll see the market start to bounce back. I don’t think we’ll see any major changes in the next 3 or 4 months, but towards the end of the year…
Sure, I think we’ll be on our way back to some semblance of stability.
This does NOT mean that we’re going to have double digit appreciation. It just means that we’ll stabilize. And THAT, in my opinion, is the VERY best time to be an investor.
You see, when the market’s going up, you’re betting that you’ll be able to get in and get out before it comes down.
If the market’s going down, you’re hoping that you’ve timed it at the bottom of the market. Sure, if you’re holding for long term, it’s the cashflow that matters, but you still don’t want to be upside down by 30% EVER!
So… use the first half of the year to sharpen the sword, practice your strategies, and hone your skills..
Attend the training classes, absorb yourself in your homestudy courses and get out in the field and PRACTICE!
Be at the top of your game when gameday comes!
Speaking of game day… (Wink, wink) I predict the Patriots are going to clinch the perfect season tomorrow night! Keep your eye out for an email tomorrow with a little Patriots (and New Years) bonus for you. If we win, you get a BETTER bonus! So… I suggest you cross your fingers for a good ‘ole WIN!
If you have any predictions of your own that you’d like to share… we’d love to hear them!
I predict huge realtor fallout from the mortgage crisis-powered slump. I think there will be a 30% reduction at least in licencees ~ those who were only “dabbling”…because they won’t have any business to dabble in.
I also predict the mortgage money crunch will translate to realtor money crunch. I believe there will be a shakeup in how our business is organized. Too many people will be scrutinizing that quarterly bill from the local, state and federal Realtor associations to have things stay status quo. As with any business, the customer must see the benefit of the expenditure of their increasingly hard-earned dollars. I think it will be an interesting few years.
From someone who grew up in Boston with the PATS, they are definately going to win!!
I lived in Arizona for 20 years and just read about a Real Estate Brokerage that had about 15 offices and a few hundred agents in the Gibert area that just closed up. I predict this is just the beginning of the Mortgage Crisis backlash with the Realtor Associations loseing many members.
As you stated, I predict there will be more opportunities for investors and owner held financing to fill in the gap for people who can’t qualify anymore and a lack of agents who may even want to work with them.
I believe that Your network of investors will offer Credit Repair to their renters so that they will be in a position to purchase the homes that they are renting. Lenders are raising their requirments for obtaining a mortgage, so more than 50% of America will have to clean up their credit before they can move on with their lives. Credit is so important now days and very little is known about how to clean up the dirt on the credit files.