January Real Trend Report in Walton Sun

[Smiling JOe]

Depends on how long the buyers market lasts and how low it goes. You don't want to buy in the beginning of a buyers market if it's going to last 5 years and prices fall the entire time.

It was a buyers market last year at this time too. So, as prices have continued to fall, those buyers in a "buyers market" are now under water. the perfect time to buy is just as a buyers market is turning to a sellers market. Next best time would be in the early stages of a runup/sellers market (ie: SoWal in 2003).

Timing is everything.;-)

I'm not sure that I completely agree. Yes, you can get lucky so timing is important, but you cannot accurately predict the market, so how do you know when the market becomes a seller's market, rather than just a slight uptick, ie - false bottom? ;-)

It isn't timing the market, it is time in the market. With time, you will see prices increase.

One other thing I disagree with in your statement is that you say it was a buyers market this time last year. I disagree. Prices were still much higher than any buyer was willing to pay. A buyer's market is when prices reach levels where it is attractive for buyer's to buy. I am seeing some properties in this category right now, but the truth is that the overpriced properties outweigh the value buys right now. That doesn't mean that you cannot shop for a value right now, but it does show me that inventory of listings is not an accurate indicator of the market. When there are two identical lots side by side with a price fluctation greater than 40%, at least one of those two lots isn't really for sale. ;-)

On a bigger picture, I understand what you are saying in your post.

EDIT: revisting that which I stated earlier, the buyers and sellers set the market price, not the Realtors. If Realtors set the market price, we would see many more sales today than we are seeing.

 

[Smiling JOe]

Re: Anything North of Freeport is Yankeytown...

Well. I haven't gouged a customer in years.

Beach Dad, you state that you didn't personally attack Josh McLean, but you attacked many of us when you throw all Realtors into a group of "gouging" people. Not all people are the same. ;-) If you want to blame someone, blame a seller for placing the price so high. Oh, wait a minute... what is wrong with the sellers putting a high price on their property when three offers come in simultaneously, and the buyer will sell to someone else at a simultaneous closing, leaving the original seller out the extra $100K or two, which seller number two will take without having to come up with more than their Earnest Money Deposit?

The market sets the price. If you do not understand that, you should keep your money in CD's.

end of message

 

[Smiling JOe]

Oh crap! Did I forget to mention that this interview was done in
NOVEMBER.........2005 (!)

Even a better example of people not being able to time the market. The market will do its thing, and people will see ups and downs only in retrospect.

 

[Bobby J]

I wish we had the power to affect an entire market! I am guilty of getting excited about what I am selling. It was the same in the art business. As a "salesperson" you get sales when you have enthusiasm about your product. Folks seem to get upset when that product is real estate. Almost bitter! BTW, I have a funny feeling the Feb sales trend will be up over January;-) . My office and many other agents I have spoken with have been very busy. I posted 3 new sales last week alone. If this weekend is a sign of things to come I will need to hire more agents to join my team. Please Pm if interested.

BTW, selling a product like SOWAL makes is easy to be enthusiastic!

 

[Bobby J]

For SJ,

You can't stop the waves from breaking but you can learn to surf!!! :clap_1:

 

[Smiling JOe]

For SJ,

You can't stop the waves from breaking but you can learn to surf!!! :clap_1:

Thanks, Bobby J! I love that quote. One day, I will enscribe it on my dining table.

 

[Bobby J]

This saying only applies to people with good knees!!!!:funn:

 

[fisher]

It isn't timing the market, it is time in the market.

I think those that bought at the peak of this cycle--say $850 or $950 per square foot for a home in areas where they are now going for $600 or less--will need to be in the market a long, long time (if ever) before they make any money and even then, the rate of return will be nominal.

One other thing I disagree with in your statement is that you say it was a buyers market this time last year. I disagree. Prices were still much higher than any buyer was willing to pay.

Then why were more homes and lots sold in January 2006 than in January 2007?;-)

 

[fisher]

I wish we had the power to affect an entire market! I am guilty of getting excited about what I am selling. It was the same in the art business. As a "salesperson" you get sales when you have enthusiasm about your product. Folks seem to get upset when that product is real estate. Almost bitter! BTW, I have a funny feeling the Feb sales trend will be up over January;-) . My office and many other agents I have spoken with have been very busy. I posted 3 new sales last week alone. If this weekend is a sign of things to come I will need to hire more agents to join my team. Please Pm if interested.

BTW, selling a product like SOWAL makes is easy to be enthusiastic!

Historically, isn't February always better than January? If so, I won't be surprised either. However, I doubt that February 2007 will be better than February 2007. We shall see.

 

[Bobby J]

Historically, isn't February always better than January? If so, I won't be surprised either. However, I doubt that February 2007 will be better than February 2007. We shall see.

I think Feb 2007 will be the same as Feb 2007. Exactly, dead even!