Chicken Little Real Estate

By: John Morrison

Remember when the year 2000 was coming and everyone was wondering if all the computers would crash? At that time, many predictions were flooding society of all the damage this little computer date issue would cause. Predictions included not only computers crashing and data loss but extreme predictions such as train and plane crashes and machinery breakdowns and many other accidents could happen. The big day came and well, for the most part, nothing happened.

This reminds me of the childs tale Chicken Little. Oh noooo, the sky is falling. Well, that also remind me of the current state of the real estate market. The housing market is in a state of caution now because many loan seekers several years ago were approved loans that were cheap to get into but had escalating payments after a few years. In many of those cases, the payment exploded so much that the home buyer was unable to pay the payment because it was to much. Then what happens is that these properties slip into foreclosure and the house is taken from the buyer.

But hold everything. This is not Chiken Little or a childs poem. This is real life and these are actual real estate deals and its not correct to think that just because the market is going through this, it doesnt mean that the sky is falling or buying and selling real estate is not a good idea. Actually, it may be the opposite for the keen eye.

With so many deals on the market, this is a quantities vs quality situation and with so many deals available on the market and the amount of foreclosures that are available, this presents many opportunities. So, dont worry about the sky falling on your head. Get out there and look at each deal and see if it has potential.

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