In most markets around the country property inventory is high and demand is low, we also see increase in property repossessions and foreclosures and we'll probably see even more increase in REO in the upcoming year. However, mortgage rates are still low, and once again, after years that sellers had the upper hand now it’s a buyers’ market. This cooling market demands some different strategies for buyers, sellers, investors and Realtors.

If you don't have to sell don't sell! Maintain a positive attitude and remember that the real estate market just like any market, is a cycle. Demand will rise and prices will go up again, there will be a better time to sell. Try to hold on to your property longer, even if it means to make some changes in your plans or to find deferent alternatives; like renting out your property.

Think hard again if you really need to sell. Be aware of the market condition, we are no longer living in a time when you can just stick a “Fore Sale by Owner” sign on your front loan and play hard to get with buyers and brokers. Now; you can only expect to sale your property for less than what your neighbor had sold his, and prepare for your property to be on the market for a much longer time.

Before putting out your property for sale, try to make some simple improvements to it. It’s a wonder what just cleaning up will do! Keeping a neat and organized property is the most affordable and the most effective thing to do; if your property is clattered, rent a storage place and remove some of your “stuff”. Plant some flowers in the front, and if you can throw a fresh coat of paint and a new carpet, they will usually pay for themselves at the sale. Hire a good Realtor who is capable in marketing your property, and listen to him/her in regarding to pricing. Try to offer incentives to buyers, for example; allowance for closing costs, and be open to creative financing. When you found an interested buyer; hold on to him/her and consider their offer wisely, be flexible but have a positive attitude, the market is slow and not dead, property that is presented right, priced right, and exposed long enough to the market, will sell!

Now you can relax and take your time, you have the selection and not too much of a competition. You can find a deal and you can create one too. Property inventory is high; you can find your dream home and get it in a bargain. Mortgage interest rates are still low and most sellers will agree to pay some of your closing costs. Don't get stuck on one property if the seller is not willing to work with you, go look for another one, the market is saturated; its buyers market! Go get them!

As always there is money to be made in any type of market; but if you are in markets where speculation has run out of control over the past few years you need to keep in mind that the market is not very active right now, and even though you can find some sweet deals, you will probably have to plan to hold on to them for longer than the usual. Plan for it, be prepared. When buying a property; you will need to consider having it rented for awhile. Good news; the rental market is stronger now than it was in the last couple of years.

Now is the time to find Foreclosures, Pre-Foreclosures, and Distressed Properties; when many people thought that home prices would rise forever, buyers abused interest-only, adjustable-rate and negative amortization mortgages; now they are underwater, owing more than their home is worth and unable to make the rising mortgage payments. Taking risks is one thing but recklessness behavior and stupidity is another; unfortunate and disastrous for some; and at the same time creating new opportunities for others.

Another good strategy is to focus on markets that are likely to boom in the next few years. While the real estate boom affected many areas, some areas around the country are still priced too low; the market will demand correction upward! Look for areas that unemployment is low and there are good opportunities for high paying jobs. Those areas will not be left behind and will eventually equalize. In those areas real estate have a tremendous potential for appreciation in the next few years.

Real estate transactions are down tremendously! I feel for you; it’s your job, it’s your income! If you don't have another source of income you will probably have to create one. And what is closer to you than real estate. Now is the time for you to jump on the "bandwagon" of real estate investing. Find your deals, create them, you can do it for others! Why not do it for yourself? If you don't have the cash, or the credit; find yourself a partner and go look for deals. You got the access to the largest property data base; you are out there looking at properties all day long; there is no one that can do it better than you! Now is the time to make friends with investors, now it’s a perfect time to get involved.