Is It Really the End?

By Raymond Stoklosa · September 29th, 2008

Surviving a Down San Mateo Real Estate Market I was speaking with my daughter, who graduated college two years ago, and some of her friends this weekend. While this usually makes me feel old, this time, I was thankful for my added years of experience.

Many of her friends are in graduate school, burying themselves in debt and are petrified with fear. How are they ever going to pay back these loans with the imminent depression? To hear them talk, you’d think that we are all going to die homeless, poor and starving by the time 2009 rolls in.

That’s why I am happy to see articles like this one “This isn’t Armageddon” start to trickle into the mainstream media.

The fact is that I started my business in 1978 and just two years later, I saw the prime rate hit 21.5. I didn’t die, my business didn’t collapse and I’m still here.

While I would like to think that this is because I am a phenomenal agent, I don’t believe in lying to myself. The facts are simple: real estate, like the economy, is cyclical. Agents with experience know that a good market can hide poor performance, but a bad market exposes all your weaknesses – so it’s only the good agents that make it through the test.

If you are thinking about selling your home or buying one, don’t psych yourself out of the market just yet. Find an experienced real estate agent in your area who has been through this before and won’t panic. With someone to help you get the details right, your transaction can still be a success, no matter what the market does.

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