Actually when it is the furthest thing from people’s minds that doesn’t correlate to the bottom. More often it is when everyone is saying how much further it will go down, how scared they are, etc etc.
But, perhaps this is the most interesting fact of them all.
Maybe the sign of the bottom is when our own humble and NASD-muted Professor Piggington’s OWN LANDLORD has defaulted on his loan! Yes, it’s true (as long as Piggington still lives in the same address as the NASD has on file).
In fact, one of Piggington’s neighbors tried to sell his place for 698,000-714,000 (5/2006), and it is currently active for $369,000, after buying it for $390,000 in 2004 (it previously sold for $199,000 in 2001). If this property is even comparable to Piggington’s, then the $670,000 mortgage on the place will be a short sale or REO very soon!
Oh, and lastly, the owner is also an Agent. Yes, the bottom is very near!
