Sometimes, I’ve noticed, people get locked into their way of doing things and forget that there ALWAYS other options. I read a quote recently that sums up my feelings about that perfectly.
“A fly that refuses to leave the corpse gets buried with it.”
Now that we are in a challenged economy, it’s even more important to constantly check what we are doing and make adjustments, or even change the way we do them. The Real Estate market has been enjoying success for long enough that many Real Estate professionals have gotten comfortable in their methods, and now that things are shifting, they are scrambling – scratching their heads and wondering why things aren’t working. Some are leaving the business out of necessity.
One of my good friends once said that “in every economic downturn, there are economic opportunities for those that look for them.” I am excited about the market right now, because I think for the savvy investor, there will be special opportunities that come about.
A lot of people right now are in a tough situation, having bought Real Estate at the peak of the market and are now watching their hard earned money go down the drain as prices are dropping. Some are even going through the process of losing their home or have already lost it. The most important thing anyone can do right now is to keep an upbeat attitude regardless of situation, remember my friend’s saying, and put your energy into finding those special opportunities that are hidden but all-around.
Businesses take losses all the time and recover, reversing the negative effects of a bad decision or investment. If you’re in that position, cut your losses and keep moving forward. Why keep your money in something that is losing money when you can get out of it and reinvest what’s left in a property that is gaining, or has better possibility of gaining when the market rebounds.
And now begins a brand new day…