Everybody talks about the weather. And it appears that everybody is talking about real estate. Right now, the big story in the weather is tropical storm Fay. Right now the big story in real estate is how terrible the market is.
But that is where the similarity ends. Yes, everybody is talking about the weather. But everybody also realizes that
all weather is local. Just because it is raining in Florida doesn’t mean it is also raining in California. People in Tallahassee aren’t looking at the weather in Los Angeles in order to determine whether to carry a bumbershoot or not.
So why do people forget that all real estate is also local? Yes, many areas of the country have suffered declines in property values, some places significant declines. Yet other places have remained relatively stable and, in certain areas, values have appreciated. And regardless of where in the country one lives, people are still buying and selling houses.
But buyers are out there listening to the so-called pundits, some of whom are saying that because this is a buyer’s market offer half of the asking price. Or they are listening to the self appointed guru who is insisting that new construction is to be avoided, or to those who are saying don’t buy anything at all. Apparently, either they don’t know, or don’t care, that real estate, not unlike weather, is local. They are telling the folks in Los Angeles to carry that umbrella because of Fay in Florida.
So even in the places, like around here, where there has been, and still is, significant growth, buyers think they should be paying 50¢ on the dollar. Or, they are just staying away until those same so called pundits tell them that the real estate crisis is over. In the meantime some savvy investors, and a few smart buyers, are taking advantage of some fantastic opportunities.
How’s the weather in your market? Is it 
or 
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