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RIDDLE: How do you know when the REAL ESTATE Market has hit bottom?

ANSWER: After it starts going back up!

Regina P. Brown
Broker, Realtor®, e-Pro
Author of eBook "Stop Foreclosure Fast: Solutions to Save your House"
Author of forthcoming book, "Virtual Office Guide for Business Professionals: Work & Profit from Home"
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Posted by Regina P. Brown, e-Pro Realtor® on 06/05/2009 11:04 PM

Comments (18)

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18 Comments on RIDDLE: How do you know when the REAL ESTATE Market has hit bottom?

JUN

DUH! Seriously, it's always 20/20 hindsight. It does appear we've hit bottom as far as a dearth of buyers but prices??? Only time will tell.

Sharon

Alternative answer: When it's too late.

People will not believe it is going up until they hear it on the news, but then it will be on the upswing for 3 months.

Ditto what Gene said. But I say, by the time it's reported on the news it's going to be far longer than that. The media doesn't know how to report anything good.

JUN

It actually seems to be going up in my area. Less homes are matching my buyers search criteria and there were better homes for the prices a few months ago.

Mary, I like what you said, "When it's too late." I think we are very close to the bottom, if not already there. The investors know it and they're coming out of the woodwork! Meanwhile, the media is playing their "bad economy" tune, and most people are falling for it! Which is good for those few, smart investors.

Regina,

In my area there is a lot more going on right now in the market at the higher price range then the last few months, but school is out and that is when more houses go on the market.

I agree with you about the media and always hearing about out economy...it's not good news for the media unless the discussion is about bad news.

"Be greedy when others are fearful; and fearful when others are greedy." Warren Buffet advice

It's timed for about a year after you buy a home.

That was kinda what I was thinking when I saw the title but had to click on to see what your answer was. See? Two great minds going in the same direction...

Your building consultant for life in Nashville, TN

I like the answers-- when its TOO LATE! But the news is what the massess want to follow! GEE!

HAHAHA I love it!!! Great post!

Regina - absolutely, and by then, if you are a buyer, you have market timed yourself out of the best deals

They say that when construction starts are up, that's a large clue. But . . . yes . . . you usually see the behind you from a rearview mirror.

Buffet's quote is so true. Act against your natural instincts is pretty much what he's saying.

Sharon

Let me just peer into my crystal ball and see what day we will hit bottom...

JUN

I agree. Once it goes back up you have missed the boat!

Seems simple, but in retrospect none of us really know that moment until AFTER.

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