”Our sense is that home sales may have reached a low in August.”
Who said this? None other than the the National Association of Realtors chief Economist, David Leigh.
When did he say this? The fall of 2006! (released in a press report).
WRONG! He added that the inventory or unsold homes would decrease in early 2007, (open mouth and insert foot further):
"to the point where home prices will rise, but at a slower pace than historical norms.
WRONG AGAIN!
One of my favorite pieces on the housing market comes from this now famous exchange between Jim Cramer and the then 2008 president-elect of the NAR:
At the time this was aired on cable (Sept 2007), Jim Cramer (noted stock investor/commentator) was right. SPOT ON correct. To the buyers who listened to him and waited to buy, Cramer has become their hero. Who would have thought that the NAR could get it so wrong, and that a stock trader could have been so right?
Although difficult, sometimes it pays to go against the current wisdom of the "experts" and look for guidance elsewhere. You never know, you just might be happier that you did, and have a little more money to show for it.
Looking for guidance to help you navigate this current housing market? Call me for a free consultation. I'll be happy to share my insights with you and help you make the best decision possible with your home.
Dan Quinn, Realtor, DanQuinnHomes.com (Re/Max 2000, Realtors)
Valentine's Day (With a Little Help From AllRecipes. com) I never thought the day would come. Not me, I used to say, you see it's just I CAN'T COOK! Then one day a funny thing happened. My 25 year old son invited my wife and me over to his home for…
Dan Quinn, Realtor, DanQuinnHomes.com (Re/Max 2000, Realtors)
Free 411 Calls On Your Phone Or Cell Phone! I hate to pay for 411 calls - I think they should be provided free by our phone service providers. I've lived long enough that I can remember the days when all 411 calls were free. Well I've found…
Dan Quinn, Realtor, DanQuinnHomes.com (Re/Max 2000, Realtors)
Don't Tread On Me The American flag demands our respect. The greatest symbol of freedom in the world the flag has been flown faithfully by many generations of Americans who proudly (and humbly) display their flags in honor of what the…
Dan Quinn, Realtor, DanQuinnHomes.com (Re/Max 2000, Realtors)
Beach Party in Leonardtown MD I went to my first Beach Party in Leonardtown Square this past weekend and I had a wonderful time! The event was planned beautifully and everyone enjoyed the evening festivities. I understand this was their 8th annual…
Dan Quinn, Realtor, DanQuinnHomes.com (Re/Max 2000, Realtors)
Will You Play with Me? If you want to buy or sell a house in 25 years - call me… If you want to buy or sell a house right now in the Olney or Silver Spring area - call my grandad! He's the greatest and he knows houses. He found…
Dan Quinn, Realtor, DanQuinnHomes.com (Re/Max 2000, Realtors)
On Nov. 6 President Obama signed legislation that extends the first time home buyer (FTHB) tax credit of 2009 and expands the tax credit to include $6, 500 for current homeowners who qualify. Commonly known as the $8, 000 tax credit, the following…
Dan Quinn, Realtor, DanQuinnHomes.com (Re/Max 2000, Realtors)
While vacationing in Seattle Washington in the summer, I had the wonderful thrill of being shown around the state by my son who was doing an internship at Microsoft. I never dreamed I would find the sheer beauty that I discovered while visiting…
Dan Quinn, Realtor, DanQuinnHomes.com (Re/Max 2000, Realtors)
As Thanksgiving approaches this month, I realize I have much to be thankful for this year. My wife, my children, friends, health and happiness to name just a few. Certainly, I have many blessings in my life and I recognize that God has provided me…
Dan Quinn, Realtor, DanQuinnHomes.com (Re/Max 2000, Realtors)
Butler's Orchard in Germantown, MD Pick Your Own Vegetables, Pumpkins, Flowers and Hayrides For The Kids Too! One of my favorite places to go and buy apples at this time of year is Butler's Orchard in Germantown, MD. A tradition in my family…
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