Time to Get Real

For many months, I've been optomistic about the current real estate market. I believe in real estate as and invesment and a life style. But, I gotta tell you, it's getting tough out there. There are obviously a number of factors that have turned what was once an out of control mania of prices, into a downward spiral with no end in sight.

My advice to people now is, if you're planning on selling, do it NOW and get out. If you're planning on buying, either wait one year or buy knowing that you're in it for at least 5 years and don't even think about doing a 100% loan thing. You will be upside down in a matter of months.

Ahh, I feel much better getting this off my chest, getting the truth out there.

For more straight talk check out this LA Times article.