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What is going to happen over the next 2 years with this market?

By
Education & Training with Merrell Institute ~ Appraisal Education Network

Some have said it has hit rock bottom.

Others have said it is about to turn around.

Others believe we are in for more troubles, and a deeper recession.

I am not sure and figured I would ask here.

All I know is that NEW YORK STATE has and is hurting on Long Island

Comments (7)

Bill C. Merrell
Merrell Institute ~ Appraisal Education Network - Bohemia, NY
Ph.D. - Merrell Institue

The market, hopefully will improve over the next 12-24 months- e can't survive any more depressing news.

Jun 28, 2008 11:41 AM
Michael Ivie
Ivco Inspection Service serving all of Habersham county - Cornelia, GA
CPI

We all should hope for a turn around. SOON

Jun 28, 2008 11:55 AM
Gordon Sloan
Group1 Real Estate, selling houses in Salt Lake City Utah - Salt Lake City, UT
Salt Lake Homes For Sale, Salt Lake Real Estate

Like everything in life there is no pat answer.

It will depend on the area in which you work, the niche you have carved for your self, and the the time spent developing a knowledge of the new tools available to seek out and service clients.

However, if mortgage money becomes scarce, and interest rates go way up, all bets are off.

IMHO

Jun 28, 2008 12:10 PM
Steve Homer
The HBH Group (Keller Williams affiliate) - Round Rock, TX

I believe we will know by the fall of this year.  The election may be the answer.  If people have confidence after the election the economy may start to recover.  I personally feel we are in for two more years of "nasty weather".  I recently saw a piece on the news where a professor who has graphed recessions since 1900 claimed that we have been in a recession since 2007 and this summer with tell whether or not we climb out now, or stay in it for two more years.  My gut tells me we are in it for two more years.  The good news is that the person who was interviewed said that if we were in it for two more years, he believed that the recovery would be stronger that that of the 90's and early 2000's meaning that we could be in for a huge ramp in the economy to the positive. 

Jun 28, 2008 12:13 PM
Vickie McCartney
Maverick Realty - Owensboro, KY
Broker, Real Estate Agent Owensboro KY

Bill~ It is hard to say what is going to happen, but all anyone can do is make the best of it, and learn all you can about becoming the best in your field. 

Jun 28, 2008 12:48 PM
Bill C. Merrell
Merrell Institute ~ Appraisal Education Network - Bohemia, NY
Ph.D. - Merrell Institue

THANKS FOR ALL THE GREAT REPLIES.

BILL

Jun 29, 2008 11:08 AM
Anonymous
Me

Hold on a second Bill probably best to talk about other things such as where to go fishing, where to go for a nice holiday, how to reduce food costs, less smoking, less driving, more cycling, less pubbing, less clubbing, less golfing, and less talking, may be that will solve a bit.

Jun 29, 2008 06:17 PM
#7