8. I’ve been a Pig for more than a year. Posted a lot back 4-5 months ago and been lurking since then. I am now working with loan broker on financing and agressively looking to buy in the next 30 days (Scripps, Newer PQ, 4S Ranch).
I consider myself a specialist in these areas. I think you are reaching a point of frustration that many of my clients have reached. That is, for all of the short sales in these places, just about every one of them already has offers into the lender. For all of the distress and problematic things about the market we talk about, some of these places indeed seem somewhat immune. While you may take these price levels holding up as a sign that we are at the bottom, I would not agree.
Conversely many people I work with simply do not have time nor patience to wait the market out. This is not going to happen overnight. Why that cannot be acknowledged always puzzles me. So what do people do? Well many of my clients acknowledge the situation and decide to either move forward or not move forward. The bottom line though is it would be foolish for me to say, “well we are x% off the bottom.” The fact is that I have no clue where the bottom will be. I do REALLY REALLY BELIEVE it will not be for awhile. Whether we are 5% away or 35% away is the real question. Ask me in 2010 and I will know.
I show homes in PQ and go to 4S almost every week. I have already gone on record to say don’t be surprised to see a bump this spring. It happens? It is called normal market cycles. However to think that the secular trend is over with is not an assumption I would make. It doesn’t behoove me to address your points one by one. Like I said I have many clients and they are going to buy not because they think the market is at or near a bottom, but because they want to own a home. I give them my analysis and they understand and thank me for being honest.
If you want a home, buy a home. However I don’t think buying a home because you think that this is the bottom of the market is a prudent move. Buy a home and be honest with yourself and family and enjoy the home!
