Are we in a real estate crisis?

Well I am finally back blogging! I would like to apologize to my many loyal blog readers who have had to wait for a new blog entry. (Okay, that was supposed to be a bit sarcastic!) In all seriousness, I haven’t had time to write an entry because the last few weeks have been pretty darn busy in the real estate world! That is some very positive news compared to the constant negativity we hear from the media in regards to foreclosures and the real estate “crisis” we are supposedly in.

Because of the increase in activity I thought I would keep this entry fairly short and share with you a link to a fantastic commentary on the market that puts foreclosures and our current market into perspective. This two minute video simplifies what is happening nationwide and sheds a pretty positive light on our current situation.

Now there is no doubt the economy doesn’t feel great right now and we are definitely in the middle of a real estate correction but buyers are realizing that combined with great inventory, a decrease in prices, and some of the lowest historical interest rates, the time to buy is now! Sellers are also taking advantage of some very nice opportunities to move-up and realize that even if they have to reduce their price they are gaining more on their purchase then they are “losing” on their sale. And as you will see in the video, if you purchased your current home before the year 2000, on a national basis you would still have gained 34% on your investment if you were selling today. Not bad if I do say so myself.

Enjoy the video from CNBC and have a positively great day!

http://www.cnbc.com/id/15840232?video=780461999