The current state of the real estate market is taking everything we once believed about owning a home and turning it upside down. The market is getting so bad that people are willing to take drastic measures just to ensure they can afford the roof over their head.

One sad truth about this market is that many people are actually hoping for a foreclosure. They stop paying their mortgage and just sit back and wait on the bank to foreclose. In the meantime they save up the money they would have put towards the mortgage for an apartment. Many people find this is a great solution because they can't afford their home and moving to an apartment would just make more financial sense. Also home prices have fallen so much that selling would cause them to lose more money then foreclosing. That is a sad truth we face these days.

Looking at this market from a buyer's point of view is also out of whack with what you may think. In the past, homes were sold for the best price. Sellers wanted as much as they could get out of their home. Today, most of the homes on the market are bank owned. The banks do not really care about how much money they get, but rather how fast they can get money. What this has crated is a cash market. Banks do not want to wait on loans and payments. People who have cash can steal a home right out from underneath another buyer who is buying with a loan.

These new lessons in real estate make for a tricky market. Nobody really knows how to act. Everything we once thought about real estate has been turned upside down. It makes this a market that is very tricky to work in. It can be a challenge, but understanding the new way people are thinking and how the market is working these days can make it much easier for real estate agents to make money and see great profits.