Rustico,
I think it is pretty amazing you were advising people way back in March 2004 about the possibility of a large drop in the market! I would think people would be hard-pressed to name other realtors that were giving that kind of warning/advice back then, as most were still caught up in the frenzy. Even today, all the realtors knocking on my door are still spouting blue-sky scenarios. I only know of one other Realtor (besides yourself) who was saying simlar things back in 2004 (SD Realtor, I wouldn’t be surprised if you were too). That was also about the time I stopped doing flips/rehabs as I began to fear what may have been coming down the road.

BTW, a good indicator of the state of the market is how many realtors are walking the streets knocking on people’s doors. In the last few weeks I’ve had at least two each week. Hey, I think I found a new market indicator! Let’s graph it! 😉