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Question:

Is it good to be in the real estate business now?

Is it good to be in the real estate business now?

Answer:

That is a very large and all encompassing question. Real Estate Encompasses a huge area. For example, Title Officers, Loan Officers, Real Estate Brokers, Real Estate Agents, Real Estate Appraisers, Real Estate Loan Officers, Real Estate Investors etc... For many of these areas it is not a good time. For example if you want to be a Realtor I would not recommend it at all at this time. Many of the agencies have reported shrinkage of up to 70% of their real estate agent staff. So if you are looking to become a real estate agent I wouldn't bother. Title and Escrow officers haven't fared that much better either as the number of loans and real estate sales have fallen so has business. Many title companies are in layoff mode as well. Mortgage companies have been the hardest hit however. With bank failures and mortgage company failures the mortgage industry has come to almost a dead stop. In one area of town near me over 30 mortgage companies that were all in the same area are all now defunct. The only real area that is showing serious growth potential is the real estate investors sector. This area is growing rapidly, as values have finally hit rock bottom and the number of buyers has also bottomed out investors like myself are buying houses at incredible prices not seen for several decades. If you want to learn to be an investor its a very promising career but not one that provides a bi-weekly paycheck but rather one of slow progressive wealth building. In short if you are needing a weekly paycheck I don't know of any decent areas in real estate that will cut you weekly paychecks.
lousy time to be another real estate agent. Great time to be an investor.
It's a great time if you are a worker

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