Recession need not be all bad

Having been in the business of marketing overseas property for twenty years, I rode out the recession in the early nineties without even realising it had happened.

It was a very good time for investors and also for those in the business of selling property in a strictly honest way and with some compassion for those who were having to sell their properties because they couldn’t afford to keep them any more.

Many villa owners I had sold to overseas prior to the recession came to me to ask me to sell their villas and to try to get a reasonable price for them, and I did my best, as although prices had taken a dip, the properties had risen in price to a certain extent since they had bought them, and in some cases owners still made a profit.

For those villa owners who could still afford to keep their property and ride out the recession, it was not a bad thing, as eventually prices went up and today they are still reaping the benefits.

In Florida USA there are many ‘distressed properties’ on the market at this time, some commercial and some residential and so for the investor, the time of recession can prove to be a good time.

I am pleased to see in an article in one of the American Real Estate magazines that Realtors are doing their best to try to help the people who are not able to keep their homes by offering any alternatives which may suit their particular needs.

Times of recession can be good for those business people who are honest and handle their business in a professional manner, as recessions always weed out the dishonest and unprofessional people in business, leaving the way forward for those who are hardworking, experienced and dedicated in what they do.

Eugenie