When one of the largest banks in the country, Wells Fargo, announces this type of cut in jobs, it's time to stop and think about what this means. To me, it can only mean that we are not out of the fog of an economic downturn. The 'double-dip' that all economists have been predicting over the last month or so is most likely a reality.

I, for one, intend to make lemonade from this lemon! As a real estate, I am dedicated to helping people who are affected by a bad economy when it comes to making solid decisions about what to do with a real estate asset that is upside down in value and the owner is struggling through I life/financial situation that precludes them from keeping up with mortgage payments.

At the same time, I strongly believe that this type of economic climate means incredible opportunity for anyone who has cash reserves, good credit, and solid income. Being a buyer in a down market is quite satisfying and financially rewarding. For buyers, it's times like this when the real wealth is made, long term.

Read the latest on Wells Fargo job cuts here.

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