Real Estate Industry Chances During Difficult Times

By: Paul Selibio

Mark Evans and his wife Lynda were appalled at how things have gone from difficult to severe in real estate industry that sent some of their closest friends in the real estate industry to the verge of financial instabilities. For months now, real estate property prices continue to plunge to their lowest yet, and the chances of foreclosure seems to brood above every property like vultures waiting for their victims to breathe their last.

There are several people however who are getting the glimpse of the silver lining behind the dark clouds. As cheesy as it sounds, but there is a part of truth in the wisdom of old: "a person's problem is another person's opportunity." After all, analysts trust that real estate will soon go back to its old self, as it always does. It still remains as one of, if not the most, lucrative investments of all time.

The test of survival is on a person's attitude, either to sit idly and curse the current situation, or get up and do something about whatever is hanging of the situation. Anyone who keeps a positive attitude can:

? Buy a real estate house now and say goodbye to renting for good;
? Spend on a real estate house now, improve it and resell it when times improve;
? Buy a house now with the prospect of renting it.

The Odds

Industry analysts however were quick to add that the "silver lining" may not be what it seems if caution is thrown altogether to the wind as the odds to this truly positive view are one too many:

? Without effective output and years of expertise backing him up, the newbie investor might see himself in deep waters while negotiating for the right value of a foreclosed real estate property. Instead of getting money, he might be turning a loss as bids might be higher than what the real estate home truly is worth.

? With the prices of real estate property watered down so much due to the slump, novice investors or those willing to stake their hard-earned savings at a new house, taking advantage of the low rates, might face some difficulty telling the bank that they are of lesser mortgage risk, as financial markets would certainly be more conscious to secure its own interest when they qualify another client for mortgage.

Temporary setback

But Carol Tucker remains upbeat. A mother of two, she believes that she's over with renting an apartment and now moving to her latest home. She sees the slump as the chance she has been waiting for that although it may not sound good that she gets her break at a time others lost theirs, she would not pass up the chance.

Jason is also on a search for better real estate opportunities too, as he believes that the economy will get better soon and he would surely make some money from the opportunity. Meantime, people like Jason would not mind changing the locks on the front door, repainting the walls, and renovating the garage until the wind of good fortune blows to their direction.

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