We live in troubled times right now, The real estate market is in shambles, the price of petroleum is unstable; the stock market is losing value and the dollar faltering against foreign currencies.
The immediate effect is a budget crunch for families struggling to keep their heads above water. Higher prices for staples push paychecks to the brink of depletion, and there doesn't appear to be any relief in sight.
All of this translates to less disposable money for things like eating out and entertainment. Restaurants everywhere are permanently closing their doors, and retail stores are reducing orders for the upcoming holiday season. There are many economic challenges that will affect each and every one of us.
But this is the United States of America. We have been through a lot tougher times than these. We have faced both economic distress and belligerent enemy alike, with strength and determination.
This is not the time to wallow in self pity, rather, it is the time to stand tall and brave and face the future with confidence. We WILL get through all of this. We always have, because we're by gosh Americans, and giving up is NOT an option!
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Richard Weisser, Broker, Associate Broker, Auctioneer, E-Pro, CE Instructor |
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All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate Better Homes and Gardens Metro Brokers, Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
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Okay I'm still waiting for some good news? Where is your inspiration for me today? It is scary how the big bank players are in trouble these days.
Hi Richard good morning. We are starting the week with a bang that is for sure. Hope you have a good one out there
Richard, while things may be getting shaken up quite a bit, and we're likely not at the end of this credit crisis, my faith is still in the free market and the market economy above and beyond any other system out there.
Richard - thanks for the optimism, it is sometimes hard to remember that we have gotten through worse times and even with all you wrote and the doomsayers in the media that we still have it better than most countries and we will have it good soon again.
Richard, I was just reading the headlines on the Yahoo front page this morning- Wall Street awakes to 2 storied firms falling, which doesn not put you in a great mood for a Monday morning.
Yes, let's keep a positive attitude, while we cut expenses and try to wait this out.
Hope things are going better for you then you blog of a couple of weeks ago.
Linda
OK. Good news. New York City area and other areas of this country are OK.
I just sold two units within 45 days of listing.
Im in! I look at my self structure ad I am pleased at the prospects of my future. I am American and I will overcome!
Darin...
The good news is even if there isn't any good news we can handle it! lol and thanks!
Charlie...
OK, fall is in the air! You're busy season is NOW so get busy! Thanks, as always.
Brian...
But the anti-capitalist ilk always manage to sneak some legislation in during these doldrums.
Mike...
I'm saying that now we have to face the music, but we can do it! Thanks.
Linda...
No, not better for me, but I am handling it better thanks to the support of everyone here at AR! Thanks you for asking, that was very nice.
Kenneth...
Great news! Knock 'em dead, my friend
The only way out is to get back to good old American values. Hard work and savings. We can't keep spending more money than we have, both individually and as a nation.
Granted the real estate market has been suffering for a while, doesn't this typically happen in an election year?
Richard I love your blogs but they always seem so doom and gloom. I know things are harder now but when faced with a challenge one shows their true character, but I will give you this one had a small bit of hope. Values are missing in today and hopefully these challenges bring out better character in people.
Laura...
Well of course I KNEW that I could count on YOU! Thanks, my friend.
Tim...
And we are ALL ready to roll up our sleeves! Thanks.
Mel...
Usually, things would be picking up this close to November, but we shall see!
Heather...
Our county is in a very tough economic situation. Half of our business was building, and when it died so did a lot of other businesses. I easily sold real estate with 18% interest rates, but now it is impossible. Plus, doom and gloom tugs at the heart strings and encourages dialog! Thanks for jumping into the fray!
Hard work and optimism, the American can do attitude made this country great. It seems we lost that some where along the way and are now paying the price. Good post, thank you.
I look at the economy today and yes we are in a tight position. Then I look back and think about when in 1972 gas prices doubled and it was rationed out, and lines stretched around the block. Or in October of 1987 on Black Monday when the stock market took a tumble and most people lost a large portion of their investments. Or in 1989 when interest rates were 18% and the housing market all but bottomed out. I think about those times and we always came back strong. We as Americans have always bounced back.
Are we as bad off as we were then? Maybe we are, but one thing is for sure. We have always weathered the storms and as you said, ". . .giving up is NOT an option!"
I just wake up every morning. Put my big girl pants on and deal with it!
I think they key is to have faith in yourself instead of the system and know that real estate is very cyclical and will recover. With the market conditions the way it is positive because it is forcing agents to discover just what they are made of and if real estate is truly their calling in life. There are those who mainatain a pity party and others who are getting out there trying to make it work for them.
Laura...
And thank you ... we need to step up right now!
Michael...
Well stated ... I don't think I need to add a thing! Thanks for your $.02.
Katie...
And that's the way it should be! lol
Kathy...
That's is indeed the way we should face any crisis. Excellent comment!
Hey Richard,
I wrote a blog last week about the way we spend our money. Here is the link:
http://activerain.com/blogsview/687533/I-want-that
Kinda the same lines.
You are right. I talk to so many people right now that are hurting. Job losses, income losses, divorce, foreclosure, etc. It is quite rough to say the least. The best thing to do is start coming up with new ideas and putting them to work. Be creative. This too shall pass.
Richard: Ever forward! Keep focused ahead. That's how we'll get through this. These economic times are among the worst I've seen in my lifetime. That being said, I have my positive attitude with me at all times. That and my sense of humor.
GM Richard - I'm with Katie putting on my big girl pants also! Giving up is not an option - ! I have a quote on my desk (actually there's quite a few of them) that says "Find a way or make a way!". KM
Richard, and here is the thing. Times are probably going to get worse and so the question we have to ask is what are we going to do about it? Nothing is not an answer. I think I am pretty much spot on here, but I imagine you are going to kick this thing in the rear and rise above......at least that is what I am doing.
Good post and nice tie ins.
Thanks
Bo
Times are hard and there is a good chance that they will get worse. But at no point in my life have I have even considered giving up to be an option. Why would we, failure is neither a solution nor the answer to the problem.
Richard, there are challenges for sure. It is not the end of the world. Good point about perspective.
Richard- I love James Lee's comment! Never giving up or never giving in. That's my new motto! As a whole...not just in my finances, in life!
Kevin...
I will take a look!
Rob...
I feel like I'm gaining ground, and that's a good thing! THX
Chris Ann...
If it wasn't for my sense of humor I wouldn't still be here! lol
Kristin...
Those are words to live by ... I have one on my desk that says "You owe the company $1,400." Wait, that's an invoice! lol
Bo...
Thanks as always, I'm goung to keep on until there is no fight left in me!
Richard, This is truly a time to put the shoulder to the plow and work our way out of this crisis that we are in. Nothin is gained by sticking our head in the sand except getting our butts kicked.
Richard...I believe that we will come oout of this a bit wiser It's just to bad our memory is so poor that it will happen all over again in 25 years!
Richard ~ With faith in God, we shall overcome. Thanks for your article. Nice photo.
Nice post Richard. WE WILL make it!! My market is down to 11 1/2 months of inventory. Whoopee!
Richard,
Thank you for your post. Our son and daughter in law and grandbaby live in Canton BUT we used to visit Newnan and our niece's family. Love the area.
I feel an upsurge of anger towards anything that reeks of bad banking policies. I have to wonder why Mr. Cumo from NY was put in charge of banking in the Clinton era (youngest in history)and no banking experience. Now, please forgive this next line, the chickens have come home to roost. The thought of getting Americans a home at any cost is stupid. I personally know of clients AND Realtors that were part of the hot market here in Naples FL. People were taking every penny out of the equity in their homes as they were appreciating and buying pre-construction or run down homes to flip. No doc, no stated income. What on earth were the banks thinking? Many have just walked away from their "investments" and I'm sure Naples wasn't the only game in the US that this happened. I would love to see as much scrutiny on this matter as there was about steroids in baseball. Oops! that doesn't make for good TV does it?
I will end. Thank you for letting me vent.
GO EAGLES BEAT DALLAS
Ding Ding, the stock market ended down over 500 points and guess what?, where all still here! I agree with Rich we can get through this bad turn in the economy and we will be better off for it.
I agree with everyone about how hard things are and they will probably get worse. I honestly believe that the majority of us will be able to whether this and for the rest, I hope that State and the National Government don't forget about them, this is after all America and if we can give billions in aid to other countries we certainly can give a couple of hundred million to our own needy!
JL AKA Rain...
I have NEVER thought of you as a person that would give in ... to anyone ... except your wife!
Gary...
And we must rise up to face it! Thanks.
Lori...
I think that is a fine standard for life! Go get 'em!
Don...
How right you are, we need to remain vigilant! THX
Bill...
We do tend to forget, don't we?
Instead of looking at this as a crash, I think it's more of a wake-up call. Americans slipped into the comfort of buy now/pay later and got lazy along the way. The current situation is forcing many of us to really examine our priorities, work hard, and get back to fundamentals. It will be a challenge in the short term, but very beneficial in the long term. And hopefully in that process our sense of what really matters will be restored.
I am more bullish about real estate and the future than at any other time in my life. I also live in what people call the worst real estate and economy in the U.S. Those are the same people that have never been to Detroit and don't know all of the great things going on. It's about perspective and attitude. If people dwell on doom and gloom, it will bring them down and most likely occur. We're going to pull out of this and those that innovate right now will be market leaders when their market turns around.
Nicholas...
I thought that I would get more comments about the photo. It is unusual! Thanks.
April...
Wow, under a tears worth of inventory? That's great news ... I think!
Lynn...
I am watching the game as I type this ... It's a great game so far, we'll have to wait and see who prevails/ Thanks for the comments and I hope that you get back to Newnan soon!
Christopher...
I hope that it doesn't come to that! Thanks for the comment!
Now if I could only get her to give in to me.
Richard - We are definitely in interesting times, but we've been in them before. Our history is littered with seemingly catastrophic ups and downs. This one might go down as a rather large bump in the road and in a few years the current players might be extinct, but we will weather the storm. This is still the greatest nation on earth.
It is what it is and we are where we are and we are responsible to make the best and most of it....Amen to what Jesse wrote.....
Word on the street...buy now !
Not to over use this phrase but my goodness, the inventory in our market (Naples FL) is shrinking and for anyone who watches the Pendings and Solds as I do, it's very clear. Summer, especially September, is historically slow. Not this year. Things are happening. Inventory is being purchased and I would say Americans are understanding that real estate is still a good investment. Most of the sales are the $300K and under price point. That's OK! That price range are the products that most investors bought into. That's who we need to find buyers for in order to begin to stabilize our markets. Prices are down, but you all know, not forever.
I hope this market shake up sends a good strong message. My Mom used to say"easy come - easy go" no truer words could be said for these times except for some it's not an "easy go".
We will get through this and come out better for it. We have all learned from this moment in time.
This is absolutely correct! Especially right now with the financial market turmoil. Is anyone questioning right now whether real estate is a better investment than the stock market right now? The main shake down in the real estate market has happened. I'm not saying that it's all bunnies and ice cream for the market from here on out but I can tell you it's going to be better than the financial market.
Jared