Again the conversation with some of my clients (investors) in Pensacola, Florida. I am going to wait for the Bottom of the Market. They are not from Pensacola so the pricing of similar properies in their area is much lower. This now skews their idea of our market for like properties!
Comment #1- We can by a 3 bedroom 2 bath home in a working class neighborhood for $50,000.00 here at home, I do not want to pay $75,000.00 for a simila home in Pensacola 2 blocks from the water, because I think the price will continue to drop. The property had 4 offers on it the First day and SOLD for $82,000.
We all know what the bottom IS..........Think about it.......... Yes you do...
The Bottom is ZERO in every market (Thanks Larry) and we do not know where the Top is every market is different but lets say the TOP is infinite.
We now the Top and the Bottom, the question the the client now becomes......Where do you want to be between ZERO and INFINITITY?
To Infinitity and Beyond..."Buzz Lightyear"