Doom and Gloom? or A Market On The Mends? ... A Comment Poll...

By
Real Estate Broker/Owner with Garrigus Real Estate CalBRE# 01844442/01844441

Doom and Gloom? or A Market On The Mends? ... A Comment Poll...

 

I've read many blogs here on ActiveRain lately following suit with the negative national data and news stories currently circulating.

 

I don't agree with the gloom personally, and its not because I blind myself with positive thoughts. I believe this way because out here in our neck of the woods we're not seeing the signs! Maybe its because we've already seen 50 to 70% discounts in property value in southern California.

But I'm curious to see what a poll on this produces. So which camp do you belong to and why?

Doom and Gloom?

 

or A Market On The Mends?

 

Posted by

Todd & Devona Garrigus

Broker / REALTORS®

951.490.3698 | Direct for Todd
951.490.3683 | Direct for Devona

www.GarrigusRealEstate.com
CalBRE# 01844442/01844441

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Rainer
333,502
Frank Castaldini
Compass - San Francisco, CA
Realtor - Homes for Sale in San Francisco

I'm in the sideways camp.  I don't believe we mend unless going sideway is mending.  Until employement numbers improve the number of qualified buyers will remain constrained.  Longer term 3-5 years I'm in the up camp.  Good luck

Aug 28, 2010 08:18 AM #1
Rainmaker
455,517
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

I don't believe the market is yet on the mend.  There are just too many negative factors, far too much inventory, and too many unemployed for the market to be in recovery.  However, that's only true for the market in general; some areas are doing just fine.

Aug 28, 2010 09:49 AM #2
Rainmaker
611,703
Todd & Devona Garrigus
Garrigus Real Estate - Beaumont, CA
Broker / REALTORS®

Let me be clear. When I say "On the Mends" I surely don't mean we will see appreciation in property value, at least not anything to sneeze at. What I mean is the markets won't bleed. A stabilization is a market on the mends as far as I am concerned.

Frank - Going sideways is a great way to say it. To go sideways would be favorable. And yes, employment numbers need to stabilize and improve as well!

John - Yes, I completely agree with this as a generalization. But I do think the market as a whole may feel shaky right now, but I don't think we're going off a ledge.

Aug 28, 2010 12:36 PM #3
Rainmaker
176,257
Maya Thomas, Broker
Tampa, FL
Please see my client recommendations.

The market is on the mend in the Florida Keys!  Our island is popular with investors and 2nd, 3rd or 4th home buyers so employment on this tiny little island is not as big a factor as it is in big cities.

Aug 29, 2010 08:21 AM #4
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Rainmaker
611,703

Todd & Devona Garrigus

Broker / REALTORS®
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