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Market Mania

Speaking with REALTORS in my office about our housing market this afternoon made me think back to 1993. Same talk, same urgency, similar downward price trends, and similar numbers foreclosures. Why didn't it feel the same? After taking some time to think about what was different, I know that what is not the same is that I have the experience to know that Real Estate is not about timing the market for the majority of home owners. For most home owners, it's about having a secure place to live and a place to enjoy whatever it is that you live for today. Family, work, play, shopping, socializing and other quality of life venues. Living in Southern California is about quality of life, and therefore, we will get through this adjustment faster than most people think we will and get on with a robust market. I'm looking forward to a great future in the housing market with stable prices, higher home ownership, and getting clients into real estate investments that will pay off in unbelievable ways down the road.

Posted by Stephen Yeager on 08/08/2007 08:08 PM

Comments (4)

market, economy

This post has been included in California Information

4 Comments on Market Mania

Stephen,

I think many sellers were in investment mode about 3 years ago. As homeowners, we were spoiled with our 53% gain over the last 5 years, and kept wanting more.

08/08/2007 08:13 PM

by Lori Lincoln~Taunton, MA Real Estate Assonet MA, Rehoboth, Dighton, Swansea (Keller Williams Realty)

After a while, people begin to think that paper gains are real. Back during the last boom/bust, the media wasn't as on top of it, people weren't tracking their "net worth" every day on Zillow and other sites.

I think that largely it's an informational thing.

08/08/2007 08:31 PM

by Lane Bailey - The REALTOR for Car People (Diamond Dwellings Realty)

Welcome to A/R, You will find this is a great place to network.

08/08/2007 09:47 PM

by Peter "Home Inspector" Christopher Residential & Commercial Inspections (Fairfield County Home Inspection L.L.C.)

Like you, I believe that people in general are more engaged with their quality of life and that there is security in knowing that their families are in safe, stable living arrangements. The market may not be what is was a few years ago, however; it is still a good and productive market. When we keep ourselves educated and realistic, we serve our clients better as well as ourselves. This is an adjustment, and what other choice do we really have, if we are to be successful, than to move forward with grace and integrity. Welcome to A/R.

08/09/2007 04:30 PM

by Suzi Toki

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