Recession Proof Jobs

Let’s face it, jobs are being lost daily.

Looking for a recession proof job? Select one of the many that don’t suffer as bad from the list below. There are industries that the recession has little to no effect on and will provide the security you need to get your bills paid on time. Something that you should consider when switching to a recession proof job is not to rush into it. Choosing a career based on financial worries is foolish, focus on doing what you do best or what you are interested in or you won’t enjoy switching as most recession proof jobs are low paying. You can’t switch into health care coming from engineering in a few months…

The following jobs do not have massive lay offs:

Fast Food & Supermarkets – People need to eat, need I say more?
Entertainment & Casino – When people get layed off, they sit at home and watch television.
Police Force & Security – Security is needed to control people whether there is a recession or not.
Repair Shops/Places – Stuff breaks, its inevitable.
Lawyers/Legal – With many going bankrupt, many laywers are seeing progress as opposed to a down turn.
Internet or IT related – The internet is a cheap source of business building. During the recession many are starting their own business for job security by not relying on an employer.
Education – People are seeking new professions to focus on while jobs are limited. Expansion in knowledge means more job opportunities.
Babysitting – Many individuals have to work 2 jobs to pay their bills and have no time to take care of their children plus most babysitting is done under the table and untaxed.
Health Care – People will always have health issues. Nurses, Doctors, etc are always in demand.

Jobs taking it the worst:

New Vehicle Sales – People are buying used and private since they have no need for a new car. Most cannot afford payments since they either lost their job or took a pay cut.
Oil and Gas – To much speculation and lay offs in the energy industry. Many companies have siezed drilling to avoid profit losses. High end experienced people will most likely get a reduction in pay while smaller ones get layed off.
Construction – There is less work now that people cannot afford new homes. Banks are taking hits on new developments. Many homes to choose from are already for sale or foreclosed.
Banks and Financial Institutions. Many banks have lost millions in the recession and its only getting worse. Many executives are kicking themselves for being greedy and some even accused of poor management.

All in all, if you are expecting to survive the recession with one of these recession proof jobs, you aren’t going to get paid much unless you are involved in the medical, legal or (high end) entertainment industry.

Peter Danihel
Recession proof jobs

BANK OWNED (REO) HOME SALES DATA FOR FOLSOM,CA AUG. 2010

This is a continuation of a three year study of Bank Owned home sales for Folsom, CA. This report covers REO homes sold in August 2010.

There were 12 REO homes sold in August, up from nine in July. A small number compared to a year or two ago. Lenders are releasing these homes for sale at a very slow pace in order to avoid causing major problems in the housing market.

The average days-on-market for the month was 59, up slightly from the 54 days reported for the previous month. Two of the homes sold had been on the market over 100 days and one had been on the market for 259 days. Despite these few “stale” listings, 42% of the homes that sold this month had been on the market for less than two weeks. The clean, presentable homes sell quickly and those with problems take a long time to sell.

The 12 homes sold represent 24% of all homes sold in Folsom.

The overall home inventory in Folsom dropped slightly from a 5.5 month supply last month to a 5.1 month supply in August. These two months reflect the highest supply in over a year. The total bank owned inventory reported for August was a 3.3 month supply, down from the 4.7 month supply reported for the previous month. Although the supply trend for REOs is increasing over the past year the July number was double the average for the past year.

The cost per square foot of REO homes sold in August dropped significantly to $ 150 per square foot, down from $ 170 in July and $ 165 in June. It has been running in a narrow range of $ 176 to $ 150 over the past fourteen months, so August was a new low. The cost per square foot of all homes sold in August was $ 173, down one dollar from July. REOs were a much better buy in August.

The difference between the cost per square foot of REO properties and the cost per square foot of all properties sold indicates that REO sales represented a 13% savings for REO buyers. This is the largest margin in some time.

The overall sales price for REO homes was 97.9% of the final asking price, and 50% of the buyers paid more than the asking price for their bank owned home in August. There was a $ 23 dollar per square foot savings in the purchase of REO homes, compared to the cost of all homes sold. When we apply that price difference to a 2500 square foot home it represents .

$ 57,500 savings, something worth considering when selecting a home: not a small sum.

If you have any questions about purchasing a Folsom REO, an REO anywhere in the area or are just looking for the best buys available feel free to call us at (916) 337-0658.

Mike West is the Real Estate marketing director whose informative website covers Cameron Park Real Estate where you can find more information on El Dorado Hills Bank Owned and El Dorado Hills REO

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