I leave town and go to the beach for a little break and what happens? Everything goes to the proverbial devil. When I left town, the financial markets were feeling queezy. By the time I returned it seems that everyone was positioned in front of the porcelain god with a wrenching case of the dry heaves.

Holy Moly.

Bear Stearns, the investment bank that’s been around since my grandfather was a young man had what amounted to a run on the bank. (You know, like in “It’s A Wonderful Life” when Jimmy Stewart had to interrupt his honeymoon to keep nervous depositors from taking out all their cash, leaving the bank with no funds but managed to calm everyone down and save the day..)

Well, where is Jimmy Stewart when you need him?

I guess JPMorgan and the Federal Reserve will have to do.

What does all this have to do with the price of houses in Greensboro? So far, not much. What does it have to do with people’s attitudes about buying - and I mean buying ANYTHING, from cars to houses to imported cheese?

Plenty. And it does reflect that credit is getting tighter and tighter. And what that means is that a buyer needs to have all their ducks in a row, keep their credit score up (pay your bills on time…pay your bills on time….pay your bills on time) and have a bit of money to put down towards the purchase.

I’m not going to say that all is rosy, even in our corner of the world where things have percolated right along during these weird economic times. But around here things are better than in most places. And for those who manage their finances, work with a good lender and want to buy, give it a try. Call or write me.

Let’s put ourselves in a Jimmy Stewart frame of mind. After all, this really is a wonderful life.

…..Will have to wait ’cause I’m at the beach. And it’s f-a-n-t-a-s-t-i-c.

Look at what I get to see when I start my daily walk:

For all of you under snow and ice, come on down to Carolina where, in early March, you can stroll on the beach and the daffodils are already blooming.

More real estate wisdom soon. But for now, I’m chill in the warmth.