A lot of my colleagues in the real estate and mortgage business are bashing the media, saying that the media is sensationalizing the mortgage crisis and that the media's portrayal is grimmer than reality. Let's be perfectly clear. The media doesn't make this stuff up. They report what they see and hear and dig up. Of course, bad news always sells better than good news, but that should not be startling. OK, so why all the complaining about the media?
It depends where your economic incentive lies. If you sell houses or make loans for a living, it's a tough market out there. Why? Because people are uncertain about the future and uncertainty breeds fear and fear causes paralysis. In a nut shell, even our best and brightest are scratching their heads, wondering what's going on here.
The bottom line is this--knowledge is power--the more you know about what's going on, the better decisions you will be able to make for yourself and your family. For some reason, we don't want to believe all the news about the real estate market. It's not a matter of believing, it's a matter of facts and figures.
So what should you do? It depends. Some will just weather the storm and others will find the greatest real estate opportunities since the last recession. But whatever you do, get a game plan and don't just bury your head in the sand, because this thing ain't over yet.
Friday, September 28, 2007
Monday, September 10, 2007
Six Degrees of Separation
One of the most amazing things about the Internet age is how connected we all are. If you have kids, and even if you don’t, you know about My Space and Face Book, the popular social networking sites that link people together according to their interests. But recently I got hooked up on Linked In. This is Face Book for grown ups—not so much social networking and more professional networking. So give it a try at www.linkedin.com. It’s fun because it will search your old alma mater, your old employer, and even your Outlook database for worthy networking candidates.
Aside from the media attention about sexual predators and the like, the power of these sites is the speed and breadth of the connections they create. Recently, my son got his first music gig at a local café. In a crafty new age marketing scheme, the owner gives the boys in the band a percentage of every ticket they sell. He’s no dumby. Now the boys are only 15 and 16 years old and very excited to be playing in a public venue. So, how do they get the word out? Face Book, of course. In less time than it takes me to write this blog, my son has sold 71 tickets to the show and everyone is ecstatic. So, if you’re not connected, you better get with the program.
Aside from the media attention about sexual predators and the like, the power of these sites is the speed and breadth of the connections they create. Recently, my son got his first music gig at a local café. In a crafty new age marketing scheme, the owner gives the boys in the band a percentage of every ticket they sell. He’s no dumby. Now the boys are only 15 and 16 years old and very excited to be playing in a public venue. So, how do they get the word out? Face Book, of course. In less time than it takes me to write this blog, my son has sold 71 tickets to the show and everyone is ecstatic. So, if you’re not connected, you better get with the program.
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