Warren Buffet has predicted the end of the downturn. He is basing this on the available inventory currently in the market. I am no genius or think I am smarter than him but I see the banks and government flooded with homes that have yet to hit the market. The transition period from foreclosure to listing is usually a few months sometimes more.
He is banking on simple supply and demand. There will also be very affordable homes for families who are looking for that perfect fit for their family that they could not afford before. I do think the prices will still drop about 20% which is great for buyers waiting, but buyers think they can chase and pin point the exact right time to buy on it's upswing. We usually don't realize this until 6 months later so it is virtually impossible. Real estate has and will continue to be the best investment you will make. It is not a short time investment and never claimed to be.
Chuck Bonfiglio Jr., e-PRO
AAA Realty Group Inc.
Broker/Owner
2010 Florida Realtors Director
2010 RAGFL Board Of Directors
954-445-9818
chuckbonfiglio@aol.com
www.aaarealtyfl.com
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