With the economy so pathetic right now, the real estate business has really taken a plunge. I am sure many people have family who are part of the business and have experienced first hand the declination of this business. Surprisingly, some people have held their own. With houses being almost impossible to sell, real estate agents have barely been able to make ends meet. Even when the economy does better, will this business that has declined so far be able to pick itself up in time? The real estate business is directly related to the economy when it comes to how profitable to business can be. How will people who have chosen this career be able to make a living at a time like this? How do other people feel about the depletion of this business?
Jennifer Gordon
CPO2001
1:05 pm
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4 comments:
Lisa Petty
POS 1041
T/R 11:35am
Something that people don’t know is that a lot of realtors homes are doing just fine...but the problem that doesn't seem to ever get mentioned is about the people who buy homes and rent them out. People purchase homes and rent them to others, and what has been happening lately is renters aren’t paying...the eviction process is much longer and thorough than people understand and the renters are really taking a toll on the owners... I think it’s sad what’s going on with real-estate.
Carlos Villamizar
CPO 2001
T/R 8:35am
Just like everything else Real Estate too will be able to pick itself up again. Real Estate was the first to drop due to the fact that mortgage brokers were approving people for homes in lower standards than ever before. That trend continued to get worse and worse because the consequences were too far away to see they would happen. Banks are being more cautious about loaning money, but this does not mean the Real Estate will forever be a failed career. There will always be people who need to buy homes. For people that are qualified to buy homes, the houses will be sold, and for those who are not qualified will resort to renting. The standards and credit ability that the banks are reaching to get back too, once were the average banks qualifications. I think getting back to those standers will not only create healthier banks, but encourage the average consumer to have better credit and a healthier debt for the future. I have witnessed that Real Estate employees have continued to pursue their career, but also working part time at other various jobs. For example, working part time managing a department store. This career is impressive because these people have entrepreneurial stills, and very high selling skills. They can get almost any sales job available.
Unfortanetly the affects of the real estate market has hit personally. My mom is a agent and at one point was selling million dollar homes almost every month. Luckily with her commision of the houses we are still able to maintain our lifestyle as we did years ago. On the negative side, the market doesn't seem to be picking up any time soon and with time the money that was brought it is no longer going to be there. Many families are in bad situations due to the bank bailouts and no loans being given. They are not able to meet their mortgages and are losing their homes.
Lauren D'Lando
CPO2001
T/R 8:35
IT is true that the real estate business is down, however it will be just fine. The land will always be there, and people will always need a place to live, or to run a business. If home prices are down right now, don't panic and sell as fast as you can; instead, wait a while for values to increase just as in every other recession. There is always opportunity for someone. with lower prices investors can buy more and sell at higher prices in the future. It's a cycle. It always has been, and it will always be.
Nicholas Conlin
POS 1041
11:35am
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