real estate bubble: Did You See the Bubble Coming? Pony Up! Did You Really?
- 09/07/13 01:39 AM
Did You See the Bubble Coming? Pony Up! Did You Really? Did you see and predict the 2004-5 real estate bubble? Today we talk about it as if we knew it was coming. But how many ACTED like they knew it was happening? How many buyers overpaid? How many appraisers over appraised? How many banks over lent? How many Realtors invested thinking they were going to flip them? How many of those Realtors lost those investments as short sales, deed in lieu, etc.? How many Realtors files bankruptcy or lost their personal homes? Now are we denying a 2013 bubble? We … (7 comments)
real estate bubble: Real estate bubble? Hogwash, say industry watchers
- 06/19/13 04:23 AM
Real estate bubble? Hogwash, say industry watchers Lately, we are reading more and more from the "negative news sells" crowd that the U.S. is headed for another real estate bubble. How could this happen? So soon? Well, we happen to believe it is more a correction and rebound than bubble as the following article claims. Home price jump is more rebound than bubble In many parts of the country including Ocala & Marion County, real estate prices crashed 40-60%. They are now ~20% below historical trend and 20-30% below replacement costs. So when the market recovers should we expect it to recover … (6 comments)
A while back we wrote: Mr. & Mrs. Seller, I Have Already Reduced My Commission 50%! And You Want More?
I heard this request again today! It usually begins something like this. “My house has lost so much and you want me to sell for even less.I have this much invested and I NEED this much.You need to reduce your commission.” My response. You know Mr. & Mrs. Seller, I also feel your pain. My home is worth less than one-half of what I … (12 comments)
The info graphic and Real Estate Roller Coaster Contest starts with some shocking numbers of lost "wealth". RealEstate.com Real Estate Roller Coaster Contest As the contest suggests, here is our take on the infographic and the data as it relates to our local market in Ocala, Florida. 1) At least in Ocala, Florida there was a real bubble, so some of that "wealth" was on paper and not real. Nevertheless, like most people when the are paper rich, regardless whether it is stock market wealth or in this case, real estate "wealth", people acted … (0 comments)
real estate bubble: Boo Hoo! We have lost 40% of Our Wealth!
- 07/17/12 11:01 PM
Boo Hoo! We have lost 40% of Our Wealth! I am amazed at the perspective when the Wall Street Journal posts the artticle titled: Yea! Home Prices Hitting Bottom. Now, the Bad News. "Tens of millions of baby boomers and other home owners have seen their equity shrunken or wiped out completely. Many were counting on their homes to help finance their retirements." What's wrong with this picture? What's wrong with the statement the picture is correct. Draw a trend line across this graph from '87 to present and you see have risen 16%! The "equity" that boomers … (7 comments)
This post is shared as a general message on life but also as a companion post to:
Boo Hoo! We have lost 40% of Our Wealth!
With Thanks to:
Kenneth WeberClint Williams RealtyCell: 216-299-2449Office: 216-299-2449Fax: 440-234-1266fairtoall@gmail.com
Perception
THE SITUATION
In Washington , DC , at a Metro Station, on a cold January morning in 2007, this man with a violin played six Bach pieces for about 45 minutes. During that time, approximately 2,000 people went through the station, most of them on their way to work. After about 3 minutes, … (0 comments)
1. Seller: “We are going to wait until prices come back”
2. Seller: “We are not giving ours away”
3. Buyer: “We think prices will go down another 20-30%”
This article brings it all back to reality.
It clearly shows housing prices adjusted for inflation. Even more apparent is the “Real Estate Bubble”.
You can see two abnormal deviations from the long term trend. First, was the great depression. Second, was the “bubble” followed by the … (6 comments)
real estate bubble: We are not giving it away!
- 10/10/11 04:40 AM
We are not giving it away! My "favorite" seller objection! Not!! But I am learning how to overcome it with those sellers that have common sense and really want to sell. Usually they are referring to today's prices compared with Ocala & Marion County at the peak of the bubble. Sometimes just showing them this graph brings them to reality.
Or asking them these questions: When was the best time to sell in last 5 years? When is the best time to sell in next 5 years? But that is hard to do over the phone. I have … (4 comments)
1. Think nothing is selling? On average, 375 homes are selling in Ocala and Marion County each month 2. Think only Short Sales & Foreclosures are selling? Yes approximately 60% of the sales are distressed properties. But this means 40% are not! 3. Think you have to compete with Short Sales and Foreclosures? Yes, they have an impact on the value of your home. But the average non-distressed property sells for 20-25% MORE! 4. Think "everybody is giving them away"? Well, when stock prices fell … (0 comments)
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Did You See the Bubble Coming? Pony Up! Did You Really? Did you see and predict the 2004-5 real estate bubble? Today we talk about it as if we knew it was coming. But how many ACTED like they knew it was happening? How many buyers overpaid? How many appraisers over appraised? How many banks over lent? How many Realtors invested thinking they were going to flip them? How many of those Realtors lost those investments as short sales, deed in lieu, etc.? How many Realtors files bankruptcy or lost their personal homes?
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