Plan for Future Challenges and Enjoy the Success of Being Prepared

By · Tuesday, January 26th, 2010
What if by year-end interest rates were 10%+?
(DO NOT SEE THIS AS GOOD OR BAD JUST AS ANOTHER EVENT)

 What would you change about your business and how would you prepare? 

 If interest rates never substantially rise no harm no foul; however, if they do rise you want to be prepared and ahead of the competition.  

Here are some outcomes to consider please ask yourself –  

 What other changes do you see may occur?
What other ideas do you have to help ensure your success? 
1.  Fewer buyers would be able to qualify for homes so overall units sold in the market place would decrease.
2.  Sales prices may rise a bit depending on remaining demand and the affects of inflation.
3.  Creative financing would become much more relevant in selling residential homes (OWC, AITD’S, CONTRACTS FOR SALE, LEASE W/A FIRST RIGHT OF REFUSAL TO PURCHASE).
4.  Banks would most likely get even more aggressive in accepting short-sales.
5.  Arm loans would become a more viable and accepted option again.
6.  Having a consistent listing inventory would become even more important.
7.  Communicating more often with your SOI would be more important.
8.  Rentals would surge as more people would consider renting a home that would not have the ability to purchase a home.
9.  Your investor buyers would have a great opportunity to grow and profit on their portfolio’s of homes as rents would most likely rise.
10.  You can choose to position yourself TODAY as the expert in this type of environment as long as you choose to open yourself to change and new ideas.     

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