Realtor in Livingston NJ: Perspective on Setbacks and Comebacks

John F. Kennedy, our 35^th President said: When written in Chinese, the word ‘crisis’ is composed of two characters, one represents danger and the other represents opportunity. Which will you choose?

From his quote, as a realtor in Livingston NJ, I concluded we have choices in life, either we choose to dwell on our setbacks or we go all out to make a comeback. Which is better?

Have you been bombarded with the news about our economy and the state we are in? Me too! I can really understand. Many realtors in the country are feeling the setbacks because of the slump in housing sales, difficulty in getting approved by mortgage companies and also the many negative stories.

Just like the words of President Kennedy, we can face it and say, opportunity is here! Or crisis is here.

What is an opportunity in the buying and selling of homes? It could be a time to sell the home that you have been occupying for years and its time to take the opportunity to upgrade to a home of your dreams at a lower price compared to five years ago.

Maybe you have been looking at homes for years and are still renting. Why not buy now because the price is affordable for your budget. Take the opportunity to buy cheaper than your neighbors.

There are opportunities to find the best deal for your dollar. Most investors will tell you to buy low and sell high.

What if you have the same home for the last 15 years? If you have been paying down your mortgage for the last 15 years, you could be sitting at a free and clear home with a 15 year fixed mortgage. If you have a 30 year mortgage you will have 15 years left on your mortgage. Could it be a time to upgrade to a bigger home or to a neighborhood of your dreams…for better schools and closer to work, more recreation facilities and shopping?

Getting a dream home for less than what it is worth 5 years ago is doable in today’s housing market. Or you may want to invest in multiple homes and become a landlord…the way to passive income or second income.

When the economy is slowing there are more renters in the market. Your investment might be a lucrative way for you to get the second income. Of course, it depends on where you live and where your investment properties are located.

Woody Allen said: More than any other time in history, mankind faces a crossroads. One path leads to despair and utter hopelessness.  The other, to total extinction. Let us pray we have the wisdom to choose correctly.