After everything the economy, people and companies have been through it seems that everyone deserves a reward for making it through the challenges. Today, homes are being sold for pennies on the dollar, mortgage rates are low, a classic muscle car can be found for a few thousand dollars (watch Barrett Jackson Auctions sometime), Walmart has 'lower price' signs everywhere and you can buy a new car for almost nothing. Anyone who made it through the past two years without losing everything is in an incredible position to buy anything.
There are foreclosed homes for sale in the Kansas City market for as little as $10,000-50,000 without structural or major work required; other real estate professionals share it is the same in most places. Older areas of town have homes with mortgages where unfortunate people paid for 20 years then lost the home. This means the balance on the loan is only what remains from the purchase price 20 years ago after payments have been made for 20 years and the home appreciated. Hence a home valued at $50,000 in 1979 may have appreciated to a value of $75,000 with a remaining loan balance of $15,000 when the home was foreclosed so the bank can only sell it for the balance of the loan (foreclosing on homes is not to be for profit above the loan balance).
It is a great time to buy investment property, rental homes or even an extra home downtown for those nights the drive back from cocktail hour seems too far! Homes are not the only excellent deal, search on Ebay Motors or Craigslist anytime to find $80,000 supercharged Jaguar Luxury Sedans selling for $10,000 in perfect running condition. Less common vehicles such as Austin Martin Ultra-performance sports cars that sold for $144,000 a few years ago are selling for $25,000 when the people who blew their money on such luxury items now need the cash to pay bills. There is something very wrong and something very right about this transfer of assets though it did create opportunity.
Invest in yourself and your business, have a new website built to reach new customers, take advantage of social media and networking. Everything done today returns your investment in the future so get ahead of the competition now while business is slow, but increasing and consumer confidence is improving.
If you have the money stashed away or happen to be one of the well performing companies it is a great time to look for a new office building, a car, LCD TV or investment properties. The economy was hurt when consumers became scared to spend money, buy a home or invest but the time has come to correct this and get a great deal at the same time. Invest in real estate, buy a nice car, take someone out to dinner and help make things better while enjoying life in the process!
Robert 'Dot Com' Jackson
www.BuilderConsulting.com
913-814-8844 Office
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