Not the Bottom AGAIN ...... Its here... No it's not....Yes it IS.....NO....YES

By
Real Estate Agent with Mark Hoeft Real Estate Broker

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"

Comments (4)

Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Funny, in most places $75000 is a kitchen remodel...people should be jumping on these homes.

May 24, 2008 02:24 AM
Anonymous
Lynn 911 Dallas Top Real Estate Agent Team

WOW $75K is an area of Dallas real estate I don't even feel safe in.  Buyers believe they can get better deals no matter how we educate them on entire P & L of the bank or seller.  When there is plenty of equity why agrue over a few extra dollars to make a 30% or more on return on investment nice deal where do you find that ? no where.

 

http://www.lynn911.com

Dallas homes for sale, Dallas home foreclosures, Dallas home rentals, Dallas houses for lease, Dallas condos for rent.

May 24, 2008 02:28 AM
#2
April Hayden-Munson
Brookfield, WI
Brookfield Wisconsin Real Estate

Hi Mark,

Just popped by to get to know you. WOW - $33 Million in 6 years - great job!

Thanks for stopping by my blog yesterday.

Make it a great "08!

May 25, 2008 03:16 AM
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

Very well said---it's hard for pros to figure out this market--how could a buyer who only buys a home once in a while think they can figure it out!    My buyers---are wainting for the market to decline---and I should say my "frist-time buyers!

Aug 15, 2008 10:48 AM