LOS ANGELES, Calif., Oct. 19, 1998 (PRIMEZONE) -- Fred C. Sands, one of California's premiere realtors and an expert in economic analysis as it pertains to the real estate market, predicts that the real estate market will rebound from the downward cycle it has been recently going through.
Mr. Sands stated this week, "The bottom line is the real estate market will be fine. The yen strengthened against the dollar and the price of bonds dropped causing interest rates to go up. I believe this is a temporary phenomenon."
An innovative business leader and national spokesperson for the real estate industry, Fred Sands' predictions of where the real estate market is going in relation to the events of the economy has deemed him an expert in his field. His dedication to total customer satisfaction makes his insight valuable to property owners across the country.
He went on to say, "In my opinion, the financial markets have overreacted and this will subside. If we can get the gridlock out of Washington and this country, through the International Monetary Fund making loans with strict economic restructuring requirements to troubled countries, then the problems can be resolved in short order." Sands stressed, "The economy will not continue to grow at the rate it has in the recent past."
On rating the real estate market, Mr. Sands assured that, "You will see a cooling in the real estate market, but it will still be a strong market. If we were to say, on a scale of 1 to 10, that 1998 was a 12, then 1999 will be an 8 on that same scale."
Since starting business in Brentwood, Calif. in 1969, Fred Sands was honored with being named one of the "Top 25 CEO's of the Decade" and is the only realtor to be awarded the American Academy of Achievement Award for being "one of the most inspiring success stories in real estate history." His continuing support of numerous charities across the state of California, including the American Cancer Society, Children's Hospital and the Ventura Battered Women's Shelter, makes him an example of how large businesses can stay in touch with the communities around them.
Mr. Sands has also become a realtor to the stars with clientele ranging from Academy Award winner Robin Williams and sports great Tommy Lasorda to heavy metal rocker Ozzie Osborne and comedian Sinbad. His commercial clients include American Express and IBM to Sony Pictures and UCLA.