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Bottom of the market?

By Dana Couch-Davis

Real Estate Agent with Kendall Haney Realty Group

June 08, 2008 10:52 PM

I just read an interesting article sent to me by the Broker of another firm regarding the bottom of the market. In essence, the article, Wall Street Jounral (May 6, 2008) states that we have hit the bottom of the market.

One thing the author is very clear in saying is that the market resurging is not going to be the craziness that we experienced in the early part of the 21st century. In atuality, the author state that such probably won't happen for another 15 years.

So where are we headed? We are headed to a nornal market. We are back to allowing the market to set a price (often lower) than the price being offered by the Seller. The market will get better as mortgage banking gets better.

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George Thoma

Kamaaina Mortgage Group Inc.| Equal Housing Lender, NMLS 1276471 - NMLS 312260 - Wailea-Makena, HI

Mortgage Broker

Yes Dana,

I was reading this Article on this day ,and yes we are now on the bottom of the market ,

Well here in Hawaii , our prices are still kinda high , however they went down ,

Many think , that the prices will go down further , but , the Euros and Asians are buying !

Jun 08, 2008 11:07 PM

Greg Hampton

Re/Max Around The Mountains - Blue Ridge, GA

North Georgia Mountain Property,Blue Rid

I think it is what, it is and we have to go to work to get paid. I long for the days of just being there and gettting paid, but they are gone.

Jun 08, 2008 11:11 PM

Valerie Osterhoudt

Johnson Real Estate, Inc. - Cromwell, CT

ABR, Cromwell, CT Real Estate ~ 860.883.8889

Dana, Like Georg, I read the article in the Wall Street Journal. The buyers I am *trying* to work with, and others are holding out for the prices to still come down more. I don't think (in Connecticut) they will be coming down much more the make that big of a difference.

Jun 08, 2008 11:13 PM

Gary McAdams

GMAC Schwartz Property Sales - Key West, FL

I think if you ask 1,000 people where the bottom of the market is you would get 1,000 answers. Nobody knows.

Jun 08, 2008 11:25 PM

Steve Hoffacker

Steve Hoffacker LLC - West Palm Beach, FL

Certified Aging In Place Specialist-Instructor

Dana, I think we are headed to a different normalcy where the extreme fluctuations are gone but the cautiousness remains with a modest increase in pricing over the next couple of years. A great opportunity to buy and sell, however,

Jun 09, 2008 01:18 AM

Jim Ryan

Ramagli GMAC - Levittown, PA

I agree with Gary that everybody will have a different answer to where the bottom is. Some areas have probably already seen the bottom, and some may see the bottom soon.

Jun 09, 2008 03:48 AM