What to do if you are in the real estate market today?
Well, I am always a backer of the downtrodden, and always a cheerleader of my industry, and I honestly bought stock in a lender at a bargain price. I didn't buy much -- even if I lose it all that's okay.
If you are considering buying a house, get on it. There are really wonderful bargains out there, not just last year's prices but 4 years ago prices. And especially shop very carefully for your mortgage broker/banker and lender. A strong reputation backed by a strong lending institution is what you need today.
If you need to sell your house, don't mess around. Just get it done.
If you want to sell your house but don't have to, think twice. One one hand, it's an amazing opportunity to buy something really really fabulous at rock-bottom prices. But remember, you will also be selling at a rock-bottom price. But think of it this way: someone coming down 5% on a $400k house is a lot bigger chunk than coming down 5% on a $200k house.
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