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Wednesday, March 28, 2012

8 Limiting Patterns of Thinking

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It can be extremely difficult to focus on the good when, seemingly, bad things are happening in your life. However you can train your mind to focus on the good things in your life rather than dwelling on the bad. No it’s not one of those positive thinking articles that you’ve read all over the web and are sick and tired of. This is about changing the way you think, changing your thinking pattern. Do you use any of these thinking patterns in your day to day life?  8 limiting patterns of thinking:

1. ‘Life is crap’ Thinking pattern –Everything in life is bad, everybody is not to be trusted and nothing good will ever happen to them e.g. “I won’t get that job, the interviewer didn’t like me, I didn’t particularly like them anyway.”

2. ‘Unsubstantiated conclusive’ Thinking pattern– You tend to make a lot of conclusions without any evidence to back up your conclusions. This can be a really destructive pattern as it can limit you in seeing reality for what it is e.g. “He walks a bit funny, he must be gay.” (I actually heard someone saying this about a colleague last week).

3. ‘Never to me’ Thinking pattern – This is when you think nothing good will ever happen to you. This can be a deep seated way of thinking and it is a deep down inability to believe you are worthy of anything good happening to you e.g. “I’ll never have money, I’ve never had it before so I’ll never have it in the future, might as well carry on with this shitty job, at least it pays the mortgage.”

4. ‘The negative psychic’ Thinking pattern – Presuming you know what people are thinking about you and it’s all bad. e.g. “She thinks I’m an idiot, I’ll try to avoid talking to her.”

5. ‘Should, would, could’ Thinking pattern – This type of person knows what they have to do to change their life, they are capable and they know it and they would do it if only……… e.g. “I know I could go to university and I would, but I’m just to busy with other things right now, I’ll apply next year.”

6. ‘Emotion based’ Thinking pattern – Your emotions control what you are thinking and therefore your vision of what reality is e.g. “I feel incapable of doing that so I must be incapable”.

7. ‘It’s all my fault’ Thinking pattern – You see yourself as being the cause of everything bad that has happened e.g. “It’s my fault he left me for another woman.” You’ll notice this type of person does not take responsibility for the good things that happen.

8. ‘They’re all wrong’ Thinking pattern – You see everyone as incapable of doing anything right and your way is the best way to do it e.g. “He can’t do it right, I’ll stay late tonight and fix it when he’s gone.”
These are just some of the common thinking patterns I have come across in my life and I have used some of them myself, I used to use mix the ‘Never to me’ and ‘The negative psychic’ thinking patterns about everything, “She’ll never go out with me she thinks I’m an idiot.” I made a conscious effort to change what I believed about myself and what I believed about the world and it has literally changed my life.

How to change the destructive thinking patterns

The first stage of changing is to recognise the problem – You will find a lot of people in life who just don’t think there is a problem so there is no need to change. If this is you then do nothing. If you want to change you must think there is a need and you will start to recognise what things need to change and it usually starts with your perception of life. Everybody’s perception of life is different, therefore everyone’s reality is different. I don’t live in the same world as you and you don’t live in the same world as me. That might sound a strange concept to some people, but think about it for a few minutes, it could change the way you see the world.

The second stage is to be aware of when you are using the destructive thinking patterns – We can employ different thinking patterns depending on what we are doing in life. For example you could use a positive thinking pattern at work as you are very confident in your ability and yet use a destructive one when it comes to looking for love. Recognising when you use destructive thinking patterns can help you to change that pattern. Now that you have recognised when you use the destructive thinking patterns it is now time to change it.

The third stage is to replace the bad with the good – This is something that you don’t do immediately. You don’t say to yourself ‘I’ll never be able to do that”, which is you old thinking pattern, to “Oh yes I can”. That won’t work. You have to let the old pattern die slowly whilst slowly introducing your new improved thinking pattern. Here an example:
You are out in a club and you want to talk to someone you are attracted to. Your thoughts are “ She’ll never talk to me, she’s gorgeous.” You will immediately recognise this pattern of thinking and tell yourself something good about yourself e.g. “I’m good at _______(FILL IN THE BLANK), it can be anything. This will not immediately help your situation but it will slowly begin to change your old destructive thinking pattern with a new one.

This stage takes place over time and is not done immediately. The best time to change a destructive thinking pattern is to let it run it’s course and slowly replace it with a thinking pattern that is better for you. I know people want a microwave life, stick it in the micro and it’s ready in 3 minutes, your life is not like that and you cannot change in 1 day, unless something drastic happens.

You can work on more than 1 destructive thinking pattern at a time.

To recap
To change your thinking pattern you have to
Be aware
Slowly change and introduce a new thinking pattern
Keep working on all your destructive thinking patterns
Change your life with your new way of thinking

Recognising and changing your way of thinking can be a long process depending on what patterns of thinking you employ and how badly you want to change. People can change, do change and change for the rest of their lives, I know I have, so don’t be thinking you’ll never be able to change, you can and you will if you really want to.

After a few months you will see a huge difference in your life and you will want to use your new way of thinking to good effect. You will start to notice new types of people enter into your life who can help you reach the goals you have in life and in turn you will help them reach their goals, don’t worry about how just now.

Take time to think about your goals and take the time often to do this. I take time every day to think about where I want to be in life and slowly but surely it happens. Personally I find it better in the morning to really think about my goals and then again at night just before I am falling asleep. It works for me but you will have to experiment a little to find your way of thinking about your goals.

Thursday, March 22, 2012

Buyers Are In The Driver’s Seat While Sellers Are Riding Along

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If it is a buyer’s market and these buyers are buying properties, then obviously there are properties on sale.  But what makes sellers want to sell during a time when clearly the other side has the edge?  Believe it or not, there a several reasons for sellers to want to get in on the action nowadays, despite it not being the best market ever.  In this article, we take you through those reasons so that if you are a homeowner who is contemplating whether or not to sell, this may help you decide.

Confidence The Sale Will Go Through 

Buyers are in for the best deal of their lives, in terms of the low, low interest rates available to them right now.  Though this does not impact sellers directly, what it does do is to almost ensure that their home will be sold.  Looking back to the late 1980s when interest rates peaked at an all-time high of about 18%, many sellers had their plans set on moving contingent upon their home being sold, only to be smacked with the buyer’s offer being rescinded.  The reason for this was that by the time buyers finalized their loan, the interest rates climbed yet again – leading to an unprecedented high cost of mortgages and their inability to afford them.  On the flip side, today sellers are now confident that their sale will indeed go through as a result of the great rates and low home prices available to buyers.

More House – More Gain On Investment

Given that housing prices are down at the present time, current homeowners who are considering moving up and buying a better home are able to realize this because of the reduced housing values.  They are comparing the choice to either remain in an existing home, wait until the market rebounds and the existing property appreciates again – with selling now and buying a new home worth more right now that will also appreciate once the market recovers. Looking at an example of a $100,000 home that is currently worth $80,000 in the down market – if the homeowner was to remain in the home and wait until it gained its lost value, it could take anywhere from five to ten years.  Similarly, if the homeowner opted to sell the existing home for $80,000 and move into a $200,000 home currently valued in the down market at $160,000 – in the same five to ten years, the gain would be $40,000 – twice as much as the first home. Adhering to this philosophy, many homeowners are jumping on the real estate bandwagon again and buying up into new homes after selling their existing ones.

Shadow Inventory

Shadow inventory is the homes that aren't yet on the market, they are either going through foreclosure or delinquent on their loans. Currently we have about 8-10 months of shadow inventory that is coming onto the market. Sellers know the situation so they're going price their properties aggresively so they can avoid that wave of shadow inventory which is coming.

General Economic Outlook

Politics aside our country's economy is not doing very well and personally I am not sure that the prospects for where this country is headed is going in the right direction either. This is just a general sentiment that is affecting the real estate market. Sellers again are reacting to the emotional need to selling their property in this economic environment setting it up well for buyers.

Exhausted Patience Waiting For Market Rebound

Many homeowners have been sitting the market out, waiting for recovery since the beginnings of our current real estate down market.  Five years later, they are seeing no change in the market and in fact can see home prices that have not yet hit rock bottom.  These homeowners have come to realize that it is a better choice to sell now and avail the opportunities that present themselves with low interest rates and the potential to incur significant gains on their real estate upgrades within the next five or ten years.
Each individual situation is a different one so it is highly advisable to consult with an experienced Realtor who can guide you and help you determine whether it makes sense for you to hold on to your property a bit longer to join the masses who are selling now to reap benefits later.

Wednesday, March 14, 2012

Real Estate Market Update – Things Are Heading Upward

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Sales are on the rise, inventory’s dropping and spring is around the corner!  Does it get any better than this?  Well, it does.  As we move into the warmer months (a long time coming) it’s time for all the hibernating buyers (and sellers) to get out there and get busy.  We’re expecting another incredible season and a lot of the credit goes to the phenomenal concessions available out there right now in the market.

As you can see from industry reports, just six months ago the market seemed bleak.  Pending home sale numbers in June 2011 were less than to be desired, our inventory of homes on the market seemed endless and it was the first year after the government’s First-Time Homebuyer Tax Credit expired.

But a lot has happened since then.

Low Rates Continue, Home Sales Rise, Inventory Beginning to Level Off

Interest rates that we have not seen ever came around and then stuck around.  In fact, they are still available and that is one of the reasons our market has been able to recover from the fallout experienced lately. Consumer confidence, though the market is definitely buyer-controlled, has fuelled the beginnings of market recovery in many areas.  As housing inventory levels off, the industry continues to experience more stabilization.

Real Estate Remains Among Strongest Investment Classes

With interest rates as low as they are right now, combined with low housing prices and mortgage opportunities, this is the best time to invest in residential real estate.  Whether buying a fixer to resell, choosing a property that will yield some rental income or buying with the intention to live in the home for 7-8 years – now is the time!

Warren Buffett recently spoke about the housing industry being the best way to invest – and it got people talking.  He said the best way to increase your net worth is to invest in a single-family home, live in it for at least a while and then sell it a few years later. He was even quoted as saying in the CNBC interview that if it were practical, he would buy a “couple hundred thousand single-family homes”.

2012 Promises Stronger Market, More Jobs, Better Economic Outlook

Considering the last three months’ sales figures steadily rising, employment numbers finally improving and a host of mortgage programs and concessions available for homebuyers, things are looking up.  In 2012, especially the second half of the year, a significant improvement is expected to take place in the housing market.  Interest rates are not expected to begin rising just yet so there is plenty of opportunity for buyers to purchase their dream homes.  Many existing homeowners are projected to take advantage of the great deals right now and buy up into their dream home while staying close to their current monthly mortgage payment.  Others will utilize government programs to refinance and seize lower interest rate opportunities.
With the paradigm of rent versus buying gradually shifting toward buying over the past couple years, buyers are now able to live in their own homes while paying less than what they would have if rented.  It’s important to get and keep good credit so that before these opportunities shift again, you will have gotten in on the action and walked away with a great home to show for it!

Wednesday, March 7, 2012

Thinking of Selling Your Home? Four Reasons Why Now Is Better Than Later

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There is so much real estate buzz these days but how do you know what you can trust?  On the one hand we hear about the market being down and how it’s heading further south.  On the other, we’re bombarded with news about how now is a great time for buyers in the market. Well, it is true that buyers have a lot of control these days with interest rates being so low and consequently buyers having that much more buying power.  But for sellers the news is not so good and now is definitely not the most ideal time to sell your home.  

Still, many people are faced with no choice and have to sell – to relocate to another location or simply to move to another stage in life like retirement or downsizing.

If you are on the fence and don’t know whether now is the time to list your home, consider this:  things have been bad but they could easily get worse.  Here are four reasons why I believe selling now makes more sense than waiting it out.

Shadow Inventory Will Soon Crowd the Market

Industry experts often refer to supply and demand as a market barometer for real estate and nothing indicates market health more than inventory levels.  Anything above 6 or 7 months of inventory is high since that indicates the number of months it would take for the current inventory level to sell and the market to be balanced.

Most normal markets can endure that many months of inventory but as soon as shadow inventory is unloaded on the market things will change significantly.  Currently there are about 500,000 bank-owned properties on the market.  However, with all the foreclosures pending plus homes that have been issued a Notice of Default, the number of bank owned properties is expected to rise to as many as 4 million properties in the next one to two years.  Once that happens, home prices are projected to decline even further.

Interest Rates Are Low But For How Long?

No one can predict how long the current historically low interest rates will remain.  Whatever homes are selling these days is due to the immense buying power buyers are tapping into.  When you combine low prices of homes with these interest rates lots of buyers are “flocking” to get into their dream homes.  Still, there is a reason we are where we are in the first place and an even stronger reason that we’ve been lurking in this precarious position for some time.  Until and unless our economy strengthens, despite the added buying power there is still trepidation about getting into major purchases.  Before buyers lose the confidence they have these days and before interest rates start shooting back up, it’s a good idea to sell while you still have a fair amount of chance of selling successfully.  Once shadow inventory hits the market and these factors come into play, the probability of selling a home quickly and at a favorable price will definitely go down.

The Future of Our Economy Continues to Be An Enigma

No one really knows the impact this year’s Presidential election will have on the economy.  Nor can anyone tell how well the national jobs market will improve over the next several years.  But one thing is certain – though there is improvement, it’s moving a snail’s pace.  To avoid any unforeseen ramifications of our economy declining in the coming months and years I strongly advise sellers contemplating listing their home to go ahead and sell now.  Right now, we are seeing sales and before that changes there are better prospects of selling now than there may in the future.

Why Put Your Life On Hold Any Longer?

Imagine the freedom you will feel to be able to do what you have wanted all along.  This could mean getting into a better home while paying the same payments you are currently making or it could mean being able to retire.  Regardless of your motivation, by holding on to your property until the market springs back to what the home was once worth, you may end up losing out on many things in life.  If the market is going to stabilize it will not happen until at least three, five or even seven years down the line.  Can you wait that long to move to the next stage in your life?
If you decide that selling now is right for you, contact your Realtor today to find out how they can help you sell your home with resounding success!