{"id":4882,"date":"2008-10-13T08:00:27","date_gmt":"2008-10-13T15:00:27","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=4882"},"modified":"2008-10-12T20:30:04","modified_gmt":"2008-10-13T03:30:04","slug":"the-glass-is-half-full","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4882\/the-glass-is-half-full\/","title":{"rendered":"The Glass IS Half Full"},"content":{"rendered":"<p>The &#8220;new, post-bail-out\u00a0era of real estate&#8221; is how <a title=\"Back At The Ranch\" href=\"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=4889\" target=\"_blank\">Cheryl Johnson describes things going forward amidst the &#8220;collapsing global financial markets&#8221; in <em>Back At The Ranch<\/em><\/a><em>. <\/em>In a comment to Friday&#8217;s edition of the <a title=\"Bloodhound Blog Radio\" href=\"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=4877\" target=\"_blank\">Bloodhound Blog Radio Mortgage program Brian Brady and I co-host<\/a>, the optimistic view I have for real estate practitioners was gently questioned.\u00a0 I believe the exact quote was &#8220;I thought you were starting to sound like NAR spokesmen&#8221;&#8230; a particularly disheartening comparison on a number of levels.\u00a0 The truth of the matter is this: I believe we are entering one of the greatest real estate opportunities in years &#8211; maybe decades.<\/p>\n<p>The idea is two-fold:<\/p>\n<ul>\n<li>Consumer credit has collapsed and will not be coming back any time soon.\u00a0 That means store credit, car loans, credit cards, home equity and so on have stopped flowing.\u00a0 The bailout package did not make a dent in this secondary level of credit.\u00a0 Financial institutions (those that are left) are hoarding cash; when they finally do trust enough to poke their heads out, consumer credit will not top their list of &#8220;things to finance.&#8221;<\/li>\n<li>Real estate mortgages have gone vanilla.\u00a0 Similar to <a title=\"Henry Ford\" href=\"http:\/\/en.wikipedia.org\/wiki\/Henry_Ford\" target=\"_blank\">Henry Ford<\/a>&#8216;s sentiment when he said: <a title=\"Henry Ford quote\" href=\"http:\/\/en.wikiquote.org\/wiki\/Henry_Ford\" target=\"_blank\">Any customer can have a car painted any color that he wants&#8230; so long as it is black<\/a>.\u00a0 We have Fannies, Freddies, FHAs and VAs &#8211; you can have any mortgage you like&#8230; so long as it is a conforming government loan.\u00a0 BUT, these vanilla loans are being served with gusto.\u00a0 Money for these loans is flowing though the pipeline and the valves are wide open.<\/li>\n<\/ul>\n<p>So, what does this mean?\u00a0 It means the government wants to see real estate serve a function it has come to perform so well: propping up a sagging economy.\u00a0 The government is pumping money down this pipeline and will continue to do so.\u00a0 Combine that with the lack of consumer debt and you only have one place where people can spend: real estate.\u00a0 The demand created by cheap money and even cheaper homes is causing volume to increase in many of the hardest hit areas.\u00a0 According to the NAR (I know, I know), <a href=\"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4882\/the-glass-is-half-full\/#more-4882\" class=\"more-link\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The &#8220;new, post-bail-out\u00a0era of real estate&#8221; is how Cheryl Johnson describes things going forward amidst the &#8220;collapsing global financial markets&#8221; in Back At The Ranch. In a comment to Friday&#8217;s edition of the Bloodhound Blog Radio Mortgage program Brian Brady and I co-host, the optimistic view I have for real estate practitioners was gently questioned.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-4882","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1916,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1916\/empty-calories-sugar-coated-credit-crunch-is-great-for-any-meal\/","url_meta":{"origin":4882,"position":0},"title":"Empty calories? Sugar-Coated Credit Crunch is great for any meal","author":"Greg Swann","date":"September 11, 2007","format":false,"excerpt":"Hat tip: Poor and Stupid. Technorati Tags: investment, real estate, real estate marketing","rel":"","context":"In &quot;Investment&quot;","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4812,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4812\/other-types-of-credit-may-be-feeling-the-crunch-but-home-mortgages-are-still-readily-available\/","url_meta":{"origin":4882,"position":1},"title":"Other types of credit may be feeling the crunch, but home mortgages are still readily available","author":"Greg Swann","date":"October 4, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Other types of credit may be feeling the crunch, but home mortgages are still readily available Bad news about the economy is coming in from all directions, so you may be in the mood for some good\u2026","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5883,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5883\/someday-soon-we-may-have-to-turn-back-the-clock-on-home-lending\/","url_meta":{"origin":4882,"position":2},"title":"Someday\u00a0soon we may have to turn back the clock on home lending","author":"Greg Swann","date":"November 29, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Someday soon we may have to turn back the clock on home lending Furniture stores are offering weekly payments. Department stores and jewelry stores are making Christmas easier with layaway plans. Check the calendar. Did someone dial\u2026","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":160,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/160\/losing-the-homestead-to-a-suckers-bet\/","url_meta":{"origin":4882,"position":3},"title":"Losing the homestead to a sucker&#8217;s bet . . .","author":"Greg Swann","date":"August 1, 2006","format":false,"excerpt":"The Real Estate Bloggers have a nice post on one of my pet peeves in real estate, the lease option\/lease purchase scam:If you are serious about buying a home, spend the time that you would have rented a lease purchase and save hard, clean up your credit report, and focus\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10203,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10203\/the-net-effect-of-government-intrusions-in-the-real-estate-market-is-to-create-a-standing-wave-of-foreclosures-amid-steadily-declining-home-values\/","url_meta":{"origin":4882,"position":4},"title":"&#8220;The net effect of government intrusions in the real estate market is to create a standing wave of foreclosures amid steadily-declining home values&#8221;","author":"Greg Swann","date":"November 1, 2009","format":false,"excerpt":"This from my Arizona Republic real estate column: As I write this, the entire real estate industry is on tenterhooks, waiting to see if the $8,000 first-time home-buyers tax credit is going to be extended. It's not really a tax credit, it's a taxpayer-funded subsidy, a \"gift\" extracted by force\u2026","rel":"","context":"In &quot;Big Mother&quot;","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5965,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5965\/seriously-whos-a-better-risk-for-a-mortgage-than-someone-who-has-already-lost-a-home-to-foreclosure\/","url_meta":{"origin":4882,"position":5},"title":"Seriously,\u00a0who&#8217;s a better risk for a mortgage than someone who has already lost a home to foreclosure?","author":"Greg Swann","date":"December 6, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Seriously, who's a better risk for a mortgage than someone who has already lost a home to foreclosure? We talked last week about credit flexibility among merchants as they try to find ways around the banking crunch.\u2026","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=4882"}],"version-history":[{"count":12,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4882\/revisions"}],"predecessor-version":[{"id":4907,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4882\/revisions\/4907"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=4882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=4882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=4882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}