This is SOOOO Typical...

I met this nice couple today at the auction. They were only there to witness it and not to buy. The lady told me that they had sold a house about 3 or 4 years ago and they had been renting since. She was definitely considering buying something soon, but she told me that "I don't want to buy a home that is going to go down in value after I buy it." Now what does that tell you about the mood and the logic out there for buyers?

I've said this before and I'll say it again. Nobody is going to be able to time the real estate market anymore than you can time the stock market. We will know when the bottom is...about a year after the fact. Its no different than predicting a recession. Recessions can only be tracked in hindsight-after the fact. Once its been reported it could very well be over.

So historically how many times has real estate gone down in value? Why would you even question that if you bought now that a home would continue to go down in value? The time to ask that question was in 2005 at the peak, but not enough people did. Its human nature but that is FEAR talking. The BEST time to buy is when everyone is selling right? The best time to sell is when things are rosy! The very BEST time to buy stocks was right after the market had crashed in 2001. But most people stayed away because they witnessed the bloodbath and there was fear that it would get worse, but it didn't. YOu could have made a small fortune if you had jumped back into it by mid 2002.

I"m predicting that our little real estate crash that has everyone scared OVER and we are at the BOTTOM now. But I won't be able to confirm that until next year...


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