With all the media "doom and gloom" in the real estate market, let's remember something extremely important. Markets go up and markets go down. It's the typical real estate cycle. What goes up must come down. 
Yes, there's no question that for many sellers, they aren't able to get as much equity out of their homes than they could have a couple years ago. However, for those who purchased real estate in 2004 and prior, their homes have still appreciated in most cases. No, they're not worth as much as they were in mid-2005, but they're still up.
And, yes, the "mortgage mess" has, unfortunately, affected many homeowners who purchased over the last couple years with adjustable rate loans and other "creative" financing. It's surely unfortunate.
For those considering buying real estate, please keep in mind that homes are currently "on SALE". Prices are at their lowest levels in a long time. So, if you're thinking about buying a home - a first home, a move up home, or an investment property - NOW is a great time to buy. Interest rates are also great - at near-historic lows, so things are looking good from the buying side.
Of course, if you need to sell, despite what the media is telling us, it's still a good time to sell, too. Thousands of homes are selling every month. No, you won't get as much as you would have a year ago, but you'll still get more than you probably will 6 to 12 months from now.
If you'd like to share your thoughts, or have a question, please click on the "Comments" button below or give us a call.
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