Recent reports from October sales and value analysis indicate real estate values have hit the mark they were at in 2003. This week the stock market hit levels last seen in 2003.
So what are the key essential differences as we embark upon 2009 and important bench mark values are at 2003 levels? Pretty simple.
1) There was momentum in 2003
2) There was optimism in 2003
When things seem at their worst, they probably are. There is only one place to go and that is up! Think upbeat. Today, our President said…”This situation didn’t create itself overnight and it won’t be solved overnight” The key is…it will be solved. But people want immediate gratification, immediate cures, immediacy is a way in which we have been groomed during the past decade or so.
This is going to take a little more time. But expect fiscal stimulus that will rock your world and get things back on a positive track. It is important to stay on a personal positive track at the same time.
Your comments are welcome.
And thank you for making me Your Orange County Real Estate Connection.
Michael Caruso, Broker ABR ABRM CRB CRS GRI
2007 President, Orange County Association of Realtors