Calling Out to K-Mart, Walmart Shoppers

Is the credit crisis over and done with? Simple answer: NO!

Just over a week ago, American Home Mortgage faced elimination as the latest casualty of the credit crisis. This is the same company that closed over $58 billion dollars in home loans one year ago. This leaves home owners, real estate agents, lenders and investors scratching their heads wondering how much longer will the subprime crisis continue.

In my opinion, due to the subprime catastrophe, economic conditions are in a turmoil beyond real estate. Think about the stock market - the Dow Jones and S&P 500 indexes aren't what they once were. Look at Chairman Ben Bernacke, for example. He scrambles around with his team, cutting interest rate after interest rate for only a short fix. Will the situation get better? Probably, but it takes time.

Investors and home buyers should not be discouraged. Interest rates are low and inventory is at an all time high. Let me ask: When as a home buyer could you demand closing help, a home warranty and a sales price way less than the listed price and...be heard?

As I break into the foreclosure market, I'm realizing that there's even more options for buyers and investors alike. Some properties need work, some don't. The point is you can get a discount if you know the right Realtor who has access to foreclosed properties. In the past two weeks, I have seen a different world of real estate. I keep my family and friends in mind as I come across newly listed foreclosed properties. Foreclosed properties are out there, do not forget. You may be able to get a deal of a lifetime if you play your cards right.