WOW...you could feel it back in July. To me if felt like December for real estate. Man, it was scary. We're talking slow. We're talking listings with 30+ showings and no offers. We're talking listings with no showings for weeks. We're talking business...no contracts...no closings...no income.
This article to me says it all from the Wall Street Journal:
Its not exactly the easiest article to read, but it paints an historical record of how we got into this mortgage mess in the first place. If you are not into numbers and financing you will hate to read it. SO, IT WAS ALL ABOUT THE RATINGS COMPANIES. Moody's and Standard and Poors did this to all of us. Wow.
Homes in Parker Colorado might not suffer as bad as some states, which adds a little comfort. I keep thinking if I could do it all over again I would have tried to flip housesin California, Florida, or Arizona, where houses were simply EXPECTED to appreciate 40+% each and every year from now to eternity. It was euforia. It wasn't reality. Every buyer I came across mentioned those states in the course of our conversations, and I had to always add my two cents. I always said that could never be sustainable, EVER. No market can go up that fast year after year after year without wages increasing at the same pace.
The lucky people that had their homes appreciate $300,000 is 3 yearswill take that money to the bank someday no doubt, and it will enhance their finances for the rest of their lives. They are set for life really. Must be nice. Us common folk in Parker Colorado will keep pushing on, and be satisfied with our measly 3% appreciation rates. Its boring, but no roller coaster rides here.
For information about Colorado Real Estate and homes in Parker Colorado,go to http://www.coloradodreamhomes.net/
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