When will it end? That is probably the most common question I am hearing these days. I really wish I had an answer for everyone that asks that question but there is really no way of knowing. I know that whatever I tell them would be a guess. My personal dilemma is how to answer this question without sounding or appearing like a pushy sales guy telling the buyer that all is well just so they will buy.
I know that our market (generally speaking) is currently under valued. I know that interest rates are at historic lows which are all great signals that now is a great time to buy. However, I read the paper as well and you hear that unemployment in the Tampa area is at 11%, foreclosure filings are steady if not increasing. More and more people are upside down in their mortgage and similar bleak news.
I do know that values have returned to 2002 levels in our area and last time I checked 2002 was 4 year prior to the peak of the boom. In my opinion by time I could definitely say yes this is the bottom, our values are going to be going back up and the boat will have set sail.
So my professional opinion is don't wait until you've missed the boat to realize you have missed the boat!
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