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Record News Paper interview on market conditions!

By
Real Estate Agent with Re/Max Real Estate Limited

The Record, our North Jersey News paper quoted myself and other brokers on market conditions. There front page story, REAL ESTATE SUFFERS WORST YEAR IN DECADES- Where's the bottom? printed Sunday March 22, 2008. The article can be seen in it's entirety electronically at Where's the bottom?

 

New Home

To go further, I think we are bottoming now. Many parts of the country are experiencing higher volume. Bergen County is also picking up. The market will eventually not be anything it seem it would be. That is the way it works!

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 Richard

 

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The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Richard - Awesome !  Congrats on being quoted in The Record !  I think more folks should be listening to you as I think you know what you are talking about.  I agree that markets are bottoming or maybe some have already bottomed !  It would be great to see more media reports stating that... when that happens, I would also expect a mini surge per se.

Mar 22, 2009 12:53 PM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Congratulations Richard!  Our Atlanta statistics are due out early this week.   I am very curious how they will stack up.  The bottom may be ahead, but we are not there yet in Atlanta.

Mar 22, 2009 03:26 PM
Richard Stabile
Re/Max Real Estate Limited - Oradell, NJ
Bergen County New Homes Builder Realtor

Christopher and Stephanie,

I try to mix the same technicals I use in the futures and world markets in real estate. The only different real estate trades slower. Thank you for your confidence and encouragements.

Richard

Mar 22, 2009 03:33 PM
Richard Stabile
Re/Max Real Estate Limited - Oradell, NJ
Bergen County New Homes Builder Realtor

Jim,

Thank you, I am still as you, worried about Atlanta because of the huge inventory and the vast structural difference on how the banks did business there. Atlanta needs investors to move in a big way. The banks that have made the bad deals, as you have been reporting have been taken over one by one. I hope the FDIC starts the ball rolling and auctions the vacant properties. The government must look at these areas on a niche basis. Not all areas are the same. Once clean out and repriced, the market can get well.

Just watch the dollar.

Richard

Mar 22, 2009 03:38 PM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I see the bottom as long as we don't see any more major underwriting guidelines or interest rate hikes!

Apr 14, 2009 03:52 PM
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