Fed Rescue Plan

It is, indeed, a very tough time for real estate sellers. It had to get worse before it got better. With the economy teetering on falling into a genuine depression and the credit industry in shambles, something dramatic had to be done to save the day. It has. The Federal Government's rescue plan is unprecedented. Desperate times call for desperate measures. It remains to be seen how effective it's going to be, but gloomy Wall Street has responded positively and my bet is that we finally have the signal we've needed for an economic turn around and a real estate market rebound.

Although Donald Trump is not on my list of all time favorite personalities, he is a shrewd financial player and knows opportunity when he sees it. The contrarians who seize the moment when things look the darkest often find themselves with once-in-a-lifetime windfalls. They get the jump on the cautious crowd who wait until after the market has made its move before they act. The visionaries profit from others inaction.

There's no guarantee that the government's "sending in the Marines" will accomplish all that it is intended to do, but it clearly will have a positive impact on reenergizing the credit industry and restoring public confidence. Those are the two key elements needed to bring buyers back to the real estate market. We'll still see foreclosure rates increase and hold down prices for sometime, but the it looks as though we finally found the bottom and the tide is turning.

In the meantime, buyers with vision, and the savvy to hire competent agents who know where the bargains are, have an open field, right now, to score some of the best deals we've seen in Sedona in years. Many of those buyers have waited far longer than they would have liked to achieve their dreams of having a home here. Now they can achieve that goal at a price no one would have ever conceived of even a couple of years ago.