With all due respect to David Letterman’s list of top ten’s, this week I am providing my list of the top five positives in our current market. Recognizing the fact that property values in SE Michigan have been cut in half over the past five years, I am cutting the list in half. So here they are.
Number 5: The market is still declining, but we are far closer to the bottom than we are to the top.
Number 4: After many years of bad decision making in the auto industry, the Detroit Three have finally acknowledged that they are in trouble and drastic measures are being implemented to create a turnaround.
Number 3: The strong real estate agents and brokers are being culled into the survivor pool. Our profession will become better for it.
Number 2: Interest rates just keep getting better.
Number 1: The light bulbs have finally clicked on. Lenders now understand that short sales are better than foreclosures, agents and sellers now understand that under-pricing listings is better than over-pricing them and entrepreneurial thinking is emerging everywhere.
Out of adversity comes opportunity.
Monday, April 6, 2009
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