9 years
questionable buying philosophy
- Thread starter Smiling JOe
- Start date
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9 years
If he was in the biz for 9 years and is currently having his best month ever.... was he in a coma during the the great 2004-5 RE grab?
Shelly,
In the pass 7 days 47 properties have gone under contract. If you give me your direct email I will send you a link of 47 properties (SoWAl) that were "priced to sell".
January for me was not a great month for the books but I started seeing an increase in calls and property showings. I also noticed my website hits almost doubled www.lifeonshore.com . I still managed to close on a home in Defuniak and a condo in Seacrest.
February we have really picked up. Remember our closings are typically 30 to 90 days out. In February, I closed on a home in Dune Allen and have contracts on a lot in Cassine Village, Point Washington, 5 acres in Freeport, and just got a contract on another home in Point Washington. I am also awaiting an offer on a home in Carillon.
I have grown up in this area and have watched people over the years try to analyze our market based on what they see in other areas or what their "indicators" show. Even when we were in the pit of this market we were selling. Many folks were acting like it was over. While we are all trying to figure it out, the "leaders" of the pack are buying. They are still seeing what we saw 2 years ago but at better prices. I mean no disrespect to you by saying I feel you are off about "this" market. I can tell you are a very wise person and have a great deal of experience in investing but trying to figure out SOWAL based on what the rest of the country is doing is a big mistake. This market (SOWAL) dances to the beat of its own drum.
Nope
O my gosh..You were expecting the market to tank. In just one day?? How do you do it???
O my gosh..You were expecting the market to tank. In just one day?? How do you do it???
How the heck do you go from "I've been expecting the economy to start cleansing itself" to "You were expecting the market to tank"?
:roll:
400 plus drop to me is tanking. But to others it might be just a cleansing.
By cleansing I mean flushing out speculators and putting at least some of the "risk" back into the markets (equity, bonds, commodities, real estate, derivatives, FOREX, CMO, MBS etc.).
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Fair enough...time will tell. (Congrats on your sales.)
But I'm sticking to my guns that the major reason for the run-up of the FLA real estate market (including SoWal) was a toxic mix of speculation, cheap money, and greed.
As a result, "this" market going forward won't be anything (in neither scope nor volume) like "that" market.
Moreover, for SoWal to underestimate the current housing "unaffordability" crisis, being felt especially by its vital service-labor pool, will be to its detriment.
400 plus drop to me is tanking.
And what term would you use for walking away from a $30,000 deposit on a pre-construction condo?
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