Do we believe this stuff? Wall Street has been full of doom and gloom these days, but for the average investor in for the long term things are not that bad. Well tell us something we didn't know. Anytime a investor is in for the long term they are as a rule not affected.
Wallstreet is saying that for the most part, investors are still ahead for the year, having more money in their portfolios than they did on Jan. 1.
They are saying "if you have cash to put in the market, buy. WELL DUH.......... Some of the things I hear them saying sounds a lot like a bunch of bull to me.
I know that this is a good time to buy. I do tell my buyers and investors that they should buy now. But most of the response I have been getting lately is that they want to wait until the prices of homes come down. Well isn't that just typical. I remember hearing that from my seller's just before the market started on it's down hill slide. Then I had those same seller's wanting their home on the market "Johnnie on the spot" and they wanted top dollar to boot. Yeah they were in denial. We all know what has happened since.
One thing is for sure one day all this will pass! The question would be when? I don't have ESP. I did forsee that the market could not continue to climb in the manner is was or every home would of been over 1 million dollars within 1 more year.
If I had ESP I could of estimated the erosion of the mortgage & credit markets. Well I feel a little better now that I have that off my chest.
I guess I'm just frustrated with the last two buyers I've had. I went against my own principles and showed homes without a buyer's contract and got burned. I found out that this person already had a Realtor when she told me she didn't. So I did the work for someone else. Serves me right for not following my own rule. I just got anxious and jumped the gun. Oh well, lesson learned again.
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