Are you the type of person who believes the glass is half full or the glass is half empty?  If you think the glass is half empty, then you probably think that real estate in Florida is in the toilet.  If you’re the positive type and believe just the opposite, you’re probably not listing to the national media who continue to bash the state of the market at every given opportunity.  Don’t believe everything you hear!  Real estate is local in nature, and we in Bay County are very blessed to have many factors working in our favor to turn this market around.

Real estate markets are, by nature, cyclical, and we happen to still be in a downturn.  Take heart though; our real estate downtown began much earlier and was much steeper than many other parts of our fine country.  As you know, we were helped by numerous events beyond anyone’s control (force majeure)…hurricanes, shark attacks, “flippers” (who are, buy the way, speculators, not investors).  Reason, and historical data, both demonstrate that we should be nearing the end of a very ugly time to sell your home.  When buyers ask me, “When do you think the market will reach bottom?”… my answer is always, “When you see it start to go back up.”  You can no more try to time the real estate market than you can the stock market

Despite what you may hear on the media, people are still able to obtain loans for homes.  They may be required to have more down payment money available and to have a good credit score, but there are banks and mortgage brokers lending money.  And, if you are a veteran and can qualify for a VA loan, the time to buy is now.  Also, don’t forget the first time home buyer credit, which is available as a $7,500 tax credit until the middle of 2009.

Although mortgage money is available if you qualify, right now, cash is king.  As fast as investors fled from the market, savvy real estate investors have been dreaming of this time to return. The quintessential buyer’s market!  Now is definitely the time when buyers get to pick and choose among the large inventory and can actually cashflow a property.  For anyone who can buy right now, you should be looking.  NOW!  Opportunities abound, and there will be tremendous returns to those purchasing property right now.  Remember, real estate is always meant for a long turn hold.  The “flipping time” is gone with the wind.  But real estate is tangible and REAL.

So, how’s that stock market treating you right now?