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A fire rages
This is my first blog... so bear with me.
This is my analogy of our market:
This type of market is like a forest fire. It starts with one match and a few dead trees or bushes (sub-prime buyers who should have never been home owners) and you can have a fire beyond control. Fire can rage and engulf acres upon acres.(Foreclosures, Short Sales and REO's) Sometimes it take special equipment to get to the location of the fire due to the terrain but typically time, weather and resources (The Fed and Mtg industries making changes to lending) are the key to putting out a fire. Obviously more time, better weather and more resources are needed the larger the fire has become. The KEY is stopping the fire as soon as possible.
But that isn't always the cure to the problem. A new growth needs to occur to bring life back to the devastated landscape. (Qualified Buyers)
The wildlife that was calling that forest home ran away until it was safe and are waiting to come home (Buyers waiting for the market to become steady and were scared off by the media and other negatives of the market conditions).
You need a good rain, for several days to wash away the ... more

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