 So we are literally witnessing one of the most incredible real estate markets in the history of the industry. What's up everybody? Ricky Caruth here. Welcome back to my channel. So we are literally in the middle of one of the healthiest real estate markets that we've ever seen. Okay. We're in the middle of one of the largest surges we've ever seen and we just had one of the largest dips during the pandemic that we've ever seen. Okay. This is all very incredible to me. So I've been in real estate since 2002. I saw the the market explode 2002 to 2004 and five and I saw it slowly crash all the way to 2008 continue to go down to 2012 and then come back with a vengeance from 2012. We've seen real estate prices increase every year since 2012. Okay. The 2012 was the bottom of the market. All right. And right now, currently, I believe in all my 18 years of being in the business, you know, as a real estate agent, helping people buy and sell properties, watching the markets, okay, and understanding what is going on. I believe we're in the healthiest market that I've ever seen. Okay. If you compare it to 2003 and four and when play when prices inflated to these crazy high imaginary numbers, which a lot of markets are back to those numbers. Okay. My specific market, Orange Beach, Gulf Shores, Alabama, Perdido Key, Florida, we haven't made it back to those inflated numbers yet. Okay. We're still a little ways away. For example, one bedrooms on the beach, we're going for 400,000 at the very peak of the market and we're still at about 350, 330 somewhere around in there. If that gives you some kind of perspective about how far we are from the actual, you know, super inflated pink back in 2005. But when you compare that market to this market, because a lot of people say, Oh, we're in the middle of this real estate bubble. Okay. We're in the middle of a real estate bubble and it's going to come down crashing and all this stuff. Listen, there's a big difference between what happened in 2003 and four and what's happening right now. Okay. The biggest difference is lending. Lending is so much more stricter than it was back in 2003 and four. 2003 and four, you could literally walk in a bank, sign your name that you make a million dollars a year. They wouldn't even check to see if that was true and they would give you a million dollars and they had their appraiser friend go and appraise the property if you're refinancing or whatever the case may be, even just buying it and they would tell the appraiser exactly what to appraise it for. There was no comps, there was no, you know, calculations to figure out what the property's worth. The banker told the appraiser what to appraise them for. That's why there's third parties that set up appraisals now. That's why there's very strict rules on financing. That's why lending is a lot harder. If you notice when you send your buyers to get financing, it's like pulling teeth to get all the paperwork that the lender needs to make the loan go through and the buyer will call you frustrated. Man, I've given them all this stuff. I can't believe everything that they need for a loan. Yeah, it's because 2003 and four banks screwed it up for us. Appraiser screwed it up for us. Real estate agents screwed it up for us by giving money away without really checking to see on things. There was no regulation. So Fannie Mae had to go all the way to the other side and put some really strict rules in place to prevent that from happening again. So now we're in this environment right now where lending is harder to get than it was back then. Interest rates are a historical low. Okay. And inventory is a historical lows. That all of that is not going to reverse itself overnight. Okay. That's not going to spin around on his head. Okay. Even if something happens crazy with the economy, so on and so forth, I don't see the real estate market turning upside down all of a sudden. It could happen. I could be wrong. The good thing is it doesn't matter. It doesn't matter if the real estate market crashes. Okay. Closings are going to continue to happen every day. Okay. People are going to continue to want and need to buy and sell properties. Okay. If it gets really bad prices will adjust in our favor to make transitions, transactions to continue to happen. Okay. So we don't have anything to worry about either way, but I'm just giving you my opinion, which means nothing. And that is this. I believe that the economy is not going to just bounce back from everything that's happened through the pandemic and everything that's happened this year. So therefore I believe that that's going to create a scenario where interest rates do stay lower for a long time. Okay. Inventory is not just going to turn around on its head. Builders can't build houses fast enough. Okay. And, and there's a lot of cash on the sidelines. Okay. I have hundreds of investors telling me, Ricky, please tell me when the deals start popping up. They think that there's going to be a crash and prices are going to go down and they're ready to buy prices by properties for a cheaper price. Okay. And I'm sitting there telling them, no, prices are going up right now and they're, they're totally confused. Okay. They're like, what is going on? I'm in the middle of a bad dream or something. Our prices continue to go up right now with everything going on. It's like the start marketing all time highs. The NASDAQ just hit all time high. So when you look at everything going on right now, I have hundreds of clients who are ready to purchase if prices go down. I know other agents have hundreds and there's, there's thousands and tens of thousands and probably hundreds of thousands of people sitting there with cash in their pocket ready to buy deals. So if the market does dip down whatsoever, it's going to create a frenzy. Okay. We're going to see a frenzy of prices go down at all. Okay. If we see a 10% drop, a 20% drop, cash is going to come into the real estate market like a torpedo. And what is that going to do? There's going to be demand at these lower prices and it's going to make what prices go back up. It's going to be a very short lived dip. I just don't, I don't see it. I don't see all the signs are telling me that even if we had an economic breakdown, that real estate is still going to stand firm. Okay. But as noted earlier, it doesn't matter either way. I'm just telling you what I think about the current situation and how healthy the real estate market is at this point in time. So definitely take this video and what I'm telling you with a grain of salt because it means nothing. No one can predict what's fixing to happen at all ever in a million years. All right. But again, closings will continue to happen. Prices will adjust in our favor. Okay. What do we need to do? Continue to build relationships with people in our market and grow our database. The larger our database is, the higher our income will be. Period end of story. It's really black and white. Okay. So I'm going to make another video right now as soon as I stop this one. And it's going to be about how to increase that database, increase that income and get it to the level that you want. Okay. Your dreams, your goals, all those big, you know, money making, you know, dreams and goals. I'm going to help you with that on the next video. Let me know if there's anything in the world I can do for you. I hope this helps you with your mindset. I hope so. I hope it takes a little pressure off of you of worrying about what's going to happen. There's no need to worry about what's going to happen ever because you never know what's going to happen. We'll deal with it when it does happen. In the meantime, we need to be grinding, grinding, grinding and grinding. We'll see you guys on the next video. Let's go.