Re: Calling the bottom!
You used to be much more bullish--what changed your opinion of the market?
You used to be much more bullish--what changed your opinion of the market?
Calling The Bottom
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Re: Calling the bottom!
I'll bite....(you know how to chum the waters
)
Here is a thread from a year ago (Feb 2007) with some "upbeat" comments and, yes, talk of a "bottom." http://www.sowal.com/bb/showthread.php?t=11220&highlight=BOTTOM
We all know how 2007 turned out--so I ask you, what do you see that is different in this upcoming year as opposed to last year? The difference I see is there was no indication in early 2007 (for most people apparently--God knows I tried!) of the impending mortgage security meltdown; credit crunch; devaluation of the dollar; increasing unemployment; decreasing sales revenues; inflation and recession....:scratch: but then these issues going forward, in my estimation, would be a negative thing for real estate.
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I'll bite....(you know how to chum the waters
)Here is a thread from a year ago (Feb 2007) with some "upbeat" comments and, yes, talk of a "bottom." http://www.sowal.com/bb/showthread.php?t=11220&highlight=BOTTOM
We all know how 2007 turned out--so I ask you, what do you see that is different in this upcoming year as opposed to last year? The difference I see is there was no indication in early 2007 (for most people apparently--God knows I tried!) of the impending mortgage security meltdown; credit crunch; devaluation of the dollar; increasing unemployment; decreasing sales revenues; inflation and recession....:scratch: but then these issues going forward, in my estimation, would be a negative thing for real estate.
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Re: Calling the bottom!
It seems sellers are slowly getting more realistic on prices. When the price gets right it will go under contract. There is always a buyer! The difference I see in 2008 versus 2007 is 2008 will be the clean up year. We are having sellers come to us to sell stuff no matter what the price is. A couple phone calls and the deal is done. Some sellers wants it off the books and do not care what it will take. Once this stuff is cleaned up, we may enter a normal market. I actually think we will go below the bottom and then have a small spike once folks realize we were at the bottom. Real estate is ever changing!
I have also noticed that some sellers are saying enough is enough and pulling from the market. They would rather not sell in this climate. Too many folks short selling or foreclosing to compete in this climate. We just have to go through this period.
It seems sellers are slowly getting more realistic on prices. When the price gets right it will go under contract. There is always a buyer! The difference I see in 2008 versus 2007 is 2008 will be the clean up year. We are having sellers come to us to sell stuff no matter what the price is. A couple phone calls and the deal is done. Some sellers wants it off the books and do not care what it will take. Once this stuff is cleaned up, we may enter a normal market. I actually think we will go below the bottom and then have a small spike once folks realize we were at the bottom. Real estate is ever changing!
I have also noticed that some sellers are saying enough is enough and pulling from the market. They would rather not sell in this climate. Too many folks short selling or foreclosing to compete in this climate. We just have to go through this period.
Re: Calling the bottom!
"Normal" as to when all the Baby Boomers and Saudis blow into town with U-Hauls loaded with cash looking to purchase anything at any price....or "normal" as in "real estate normal?"---(not that many people actually know what that means.)
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"Normal" as to when all the Baby Boomers and Saudis blow into town with U-Hauls loaded with cash looking to purchase anything at any price....or "normal" as in "real estate normal?"---(not that many people actually know what that means.)
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Re: Calling the bottom!
Normal may have been a bad term. How about regular.
"The term regular can mean normal or obeying rules."
No mention of Baby boomers or Uhauls in that definition so I guess I mean Real estate Normal.
Normal may have been a bad term. How about regular.
"The term regular can mean normal or obeying rules."
No mention of Baby boomers or Uhauls in that definition so I guess I mean Real estate Normal.
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Re: Calling the bottom!
Since we're discussing finding the bottom:
"Regular" as in "unconstipated."
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Since we're discussing finding the bottom:
"Regular" as in "unconstipated."
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