I don't know where the bottom is, and neither do the Big Boys!  We are all exposed to the same information, whether you read "Your Own Small Town Newspaper" or The Wall Street Journal. 

Clients ask me all the time to speculate, to render an opinion.  I don't.  I won't!  I have no crystal ball.  I will, however, give them the current statistics, which I diligently cull on an ongoing basis.  I can recite the percentages of solds vs. active, the pendings, leaving them to read whatever they want to read from the numbers I quote.

It is common sense that buying on the dip is a good idea.  We are currently at a confluence of palatable, although unstable interest rates, (oops, I forgot to check the rates today!), ample inventory to choose from, motivated sellers (some more than others).   For an investment to be successful, you don't have to be at the very bottom of the pricing curve.   You know what comes after the bottom of the pricing curve, right?  Yes, that's right: an upswing in pricing.  Couple that with increased hope and fortitude on the Sellers' side, decreased inventory and more buyers vying for the same properties, and you have a recipe for paying more...

What are your thoughts on this?

Your Myrtle Beach Real Estate Connection, Mirela Monte                          Join The Optimist Group!