Well, it’s December and there is much to anticipate in the coming days and weeks! Choices include the end of the world, as predicted by our Mayan friends, or a trip over the ever popular Fiscal Cliff. Wow! Luckily I’ve had plenty of coffee today so neither one unsettles me too badly. However, like everyone else, it’s gotten me thinking about my business and how it will affect my plans for the upcoming year. I’m not too concerned about the end of the world as I’ve got an escape route in Jesus, but the Fiscal Cliff leaves me slightly unsettled.
None of the potential scenarios are pleasing. If the Democrats and Republicans reach a compromise then it means that someone is getting the short end of the stick. However, if we go over the cliff, then EVERYONE gets the short end. The fact of the matter is that someone, somewhere is going to have to pay. A LOT.
On the market front, it seems that no matter what happens there will be a sluggish response. On the real estate front…..it remains to be seen. Housing sales rise and fall on the economy. At this point, here in Austin, we are seeing a rise in home sales. All that can change in just a couple of months. Although there has been a significant drop in the rate of foreclosures, it is a little deceptive as there are agents like myself who negotiate short sales and deed in lieu which skew the numbers significantly.
At this point, all we can do is batten down the hatches and hold on for the drop. Remember, no matter what a persons income bracket may be, we truly are all in this together.