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TooScared

Beach Crab
Jan 17, 2008
1
0
I post on the board sometime, but I've created a new name because I don't have Shelly's backbone and I don't want to be harrassed.

Most everything I here are real estate horror stories. Foreclosures, dropping housing prices, huge inventories, but by far most of the posts in the forum are positive - with the exception of Shelly who gets pounded by most everyone for being, in my opinion, too much of a realists.

My thing is that it seems to me most everyone who posts regularly in this section, most often, most positive, etc. have stake in the real estate game, either investors, realtors, developers, business owners all of which have strong personal interests in a strong real estate market or at least of the perception of an improving market.

I am leary these days of asking investing advice of anyone who makes a living in the real estate market. Car salesmen will always tell you its a great time to buy.

Hey. The market is AWFUL. It's the worst real estate market since the great depression, and how could anyone with straight face say it's a great time to invest in real estate unless you have the money and intention of holding on to it for many years.

So, my question is this, by a show of hands, and in the interest of full self disclosure, how many of the frequent posters on here, including the webmaster, have a personal interest, whether through themselves or there spouses, in real estate to include realtors, developers, homeowners with property currently on the market, marketers that advertise real estate through print or the web so that those of us who are have no interest can know who is being completely unbiased and who may have other motivations for constantly wearing their rose colored sunglasses at night.
 

elgordoboy

Beach Fanatic
Feb 9, 2007
2,526
565
I no longer stay in Dune Allen
I post on the board sometime, but I've created a new name because I don't have Shelly's backbone and I don't want to be harrassed.

Most everything I here are real estate horror stories. Foreclosures, dropping housing prices, huge inventories, but by far most of the posts in the forum are positive - with the exception of Shelly who gets pounded by most everyone for being, in my opinion, too much of a realists.

My thing is that it seems to me most everyone who posts regularly in this section, most often, most positive, etc. have stake in the real estate game, either investors, realtors, developers, business owners all of which have strong personal interests in a strong real estate market or at least of the perception of an improving market.

I am leary these days of asking investing advice of anyone who makes a living in the real estate market. Car salesmen will always tell you its a great time to buy.

Hey. The market is AWFUL. It's the worst real estate market since the great depression, and how could anyone with straight face say it's a great time to invest in real estate unless you have the money and intention of holding on to it for many years.

So, my question is this, by a show of hands, and in the interest of full self disclosure, how many of the frequent posters on here, including the webmaster, have a personal interest, whether through themselves or there spouses, in real estate to include realtors, developers, homeowners with property currently on the market, marketers that advertise real estate through print or the web so that those of us who are have no interest can know who is being completely unbiased and who may have other motivations for constantly wearing their rose colored sunglasses at night.
Don't be a sissy..post it under your regular ID.
 

Bob

SoWal Insider
Nov 16, 2004
10,463
1,344
O'Wal
What's your point? Don't buy anything. Put your money in a cd, and rent when at the beach. Wear sunscreen and double deadbolt your doors while wearing latex gloves to protect you from germs.......pssst here's a secret.....everyone's biased whether they make their living from real estate or not. Right Shelly?
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
What's your point? Don't buy anything. Put your money in a cd, and rent when at the beach. Wear sunscreen and double deadbolt your doors while wearing latex gloves to protect you from germs.......pssst here's a secret.....everyone's biased whether they make their living from real estate or not. Right Shelly?

Biased? Why of course!....I own a few thousand shares in the Latex Glove and Tin Foil Hat Factory in China.

BTW TooScared...are you wanting to ask about Real Estate investing advice? I doubt you'll get a roll call of folks on the board stating their involvement with the RE biz, so don't hold your breath. You sound as if you've got the market pretty much sussed out--I'd leave it at that.

In defense of the folks in the RE biz. It's their job to present a positive spin on the market--real or implied--can't fault them for that. It's up to the viewers and buyers to agree or disagree--can't fault them for that. It is up to the investor/consumer to do the due diligence before making a commitment whether it is purchasing a stock, a used car or a condo. I always keep this saying in the back of my mind, "Never ask a barber if you need a haircut." (Oh! And never ask anyone on a message board for investing advice.) Think about it.


.
 

Busta Hustle

Beach Fanatic
Apr 11, 2007
434
34
Shelly you may want to diversify from latex and tin hats...follow me here my broker just turned me on to trampoline futures. (tall buildings, places to land, etc.)
 
"Hey. The market is AWFUL. It's the worst real estate market since the great depression, and how could anyone with straight face say it's a great time to invest in real estate unless you have the money and intention of holding on to it for many years."

Maybe you answered your own question.
 

Chickpea

Beach Fanatic
Dec 15, 2005
1,151
366
30-A Corridor
Regardless of the state of the market, most people (I believe) are affected by the current state of affairs, because their principal investments are with real estate - a house (or 2 or 3) will typically be the biggest purchase one makes.

Some people on this board know me and know that my work is tied to RE development but what I say below is truely personal.

Many others who post regularly understand much more than I about the signs in the economy, real estate current woes, sub-prime mortgage mess, etc, etc.. but this is the little I know.....

I LOVE living here, my family and I invested in property in 2005 at the peak of the market - many people may find that really stupid - but all we knew and what we still know is that we loved living here and saw the potential. We invested certainly hoping we would not lose our shirts, but we were/still are committed to this area, believe that like many other businesses, RE has its cycles, have absolutely no idea when things will start to turn around but believe with absolute certainty that this little paradise we live in will continue to grow and prosper in the long run.

I could be sitting with a calculator and depressing myself with the money we MAY have lost OR I could throw myself into my work and work on making this place a little bit more pleasant and beautiful and desirable! And in the meantime, I am going to really enjoy living here, enjoy the new services that seem to pop up with increased frequency and specifically, take advantage of our spectacular nature preserves and enviable beaches!

Thanks and happy weekend.
 

beachmouse

Beach Fanatic
Dec 5, 2004
3,505
741
Bluewater Bay, FL
No primary interest- neither me nor Mr. Mouse.

But because the real estate machine takes up such a significant part of the local economy, if you live down here and have to work for a living, you'll feel secondary effects to some degree or another. Which isn't entirely bad if you're talking a market that's becomming affordable to middle income wage earners again.
 

Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
Wow, a downer indeed. Are you trying to drive prices further down so that you can buy in? You state the market is the worse since the Not-So-Great Depression. Upon what evidence do you base that? I look at the sales numbers and see that prices in SoWal for Single family homes are around the prices of 2004-2005, which were two of the best years in history for real estate. This is fact based, not just some defensive stand to your post. So again, where do you get your information on this being such a Debbie Downer market? I'm not saying the market is all rosy, but you don't paint a balanced picture -- just a snapshot of one aspect of the market.

You need to remember that many people bought property in SoWal prior to 2003, and most of them will still profit from selling, even if they undercut the people in trouble. As for buyers, there are buyers who thought they were priced out of the market back in 2004-2005, and they are now seeing some cases of prices being lower, so they are tickled pink. These are end-users of property, not speculators. For buyers to be able to come in at major discounts in certain cases, it's a good thing. WaterColor and WaterSound are two areas where prices have decreased more than the broader area of SoWal, and there are some good buys to be had in there. Is it possible that prices could drop more, yes. However, people buying luxury items, like a second home at the beach, cannot time the market. If people could time the market, don't you think that everyone would have sold at the market's peak?

I suggest that you look at the broader picture, rather than the debbie downer segment, which does exist. Every day, I awaken to NPR on the radio, and at least one of the stories is the terrible state of our economy, the mortgage biz, and or the terrible real estate market. If people hear it enough, maybe they begin to believe it. That is what we have seen in the slow number of sales, but it relates only to one segment of the current market. Real Estate is local.

Almost forgot, for full disclosure, I am a Realtor, and people should know that all property is always for sale. Sometimes people like to pretend that a particular piece isn't for sale when a buyer is interested, but it's always for sale.
 
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