HERD MENTALITY

Well, it looks as if the media has a lot of people spooked with regard to real estate. We here at Tyler Texas Real Estate have about fifteen customers in cities and states that can't sell their properties; so they can't move to Tyler! But you see, the problem isn't real estate; the problem is a few overzealous lenders! And when the big lenders begin to subvert sound business policies, things get kind of sticky.

The buyers of those loans originated by the big lenders are, for the most part, hedge funds and foreign investors. So our markets should be able to quickly absorb the losses sustained by those buyers. But with all the media attention, folks get a little "antsy", and they sit back and wait to see what happens. Fact is, real estate is still very strong.....especially in places like East Texas and Tyler Texas. The ripple effect from other states has affected us, of course; and there are more properties on the market here than there normally are. Owners are just going to have to wait a little longer for the hype to die down, and for the "herd mentality" to get tired.