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The mortgage crisis and future clientele


#1

It seems to me that once the dust starts settling, all those
foreclosures will be selling. Means new people in our towns maybe,
perhaps we can reach out to them.

It’d be nice to know who they are. Not just names and addresses, but
their demographics. Will they be first time home buyers taking
advantage of low prices or investors looking to flip? People who are
stepping up in size(might be hard to do if its contingent on selling
their own homes first)? How would jewelry purchases/services fit into
their new lifestyle? I think there’s going to be a respectable
boomlet in home buying. Which of course also means that local
realtors might be in the jewelry market once again. And the building
trades. There’s a growing pent up demand out there, it’d be wise to
be ready. Exactly how is still fuzzy.

Stuff to think about. You heard it here first. For free.


#2
It seems to me that once the dust starts settling, all those
foreclosures will be selling. Means new people in our towns maybe,
perhaps we can reach out to them. 

I saw a news story the other night about how people trying to buy a
home are having trouble competing with the real estate investors
because the real estate investors have cash and the home buyer has
to go through the mortgage approval process. The couple featured in
the story said they had lost out on four homes even with offering 20%
more than the asking price. Without getting too political here this
is another example of the middle class being pushed toward the lower
end of the scale. To quote the old saying, “The rich get richer and
the poor get poorer.”

Rick Copeland
Silversmith and Lapidary Artisan
rockymountainwonders.com


#3

The same thing is happening in Las Vegas area. When I bought in Jul
08 I was going to offer on one place and they said don’t bother, they
already had 20 offers. I offered on my current home and there were
multiple offers on it as well. I was lucky and beat out the others
because I could close earlier.

I’m sure commercial mirror residential in this aspect, to some, if
not in major degree.

Mike DeBurgh, GJG
Henderson, NV


#4
I saw a news story the other night about how people trying to buy
a home are having trouble competing with the real estate investors
because the real estate investors have cash and the home buyer has
to go through the mortgage approval process. The couple featured
in the story said they had lost out on four homes even with
offering20% more than the asking price. 

I have had that same exact problem. My husband and I have been
looking for a house since January, and have bid on at least 10 at
this point. We are bidding competitively, have great credit,
pre-approval and are FHA approved. Still it’s an uphill battle. We
have a back up plan of buying a brand new condo come september,
because we can’t seem to penetrate the rest of the housing market at
all.

Jackie

Jacqueline Bell Johnson, dba.
Sylas Studios


#5

I would like to invite all of you fighting with real estate
speculators to come to Cheraw, SC “The prettiest little town in
Dixie”. We have lots of residential and commercial real estate for
sale, all the way up to huge manufacturing plants standing empty
just waiting for you! And NO real estate speculators to compete.

You can get a huge home on acreage for under $200,000 easy… and
the commercial building I was looking at in our main downtown block
was going for $55,000.

Or come to Ocean Isle Beach, NC - where there are a huge number of
beach houses and condos for sale - and very, very few buyers! Again -
no speculators!

Beth Wicker
Three Cats and a Dog Design Studio
http://www.bethwicker.com


http://bethwicker.ganoksin.com/blogs/