And the horse you rode in on! Really, you sure you want to call me a chump? How many screen names do you have and do you really want to get another one?All I did was stick my neck out and make a prediction, one that I will gladly be ridiculed for over time if it turns out to be wrong. But I supported my argument with research, you told what only you consider is a funny joke.
250 REO’s is less than 2 months supply, who the fu$% cares. You have little to no clue about which you spew. Do not apply broad brush strokes and cliches to micro markets.
That 230k on main street works because it is 4x median income and 2x income for most of the shoppers. It doesn’t “seem” that everyone wants it, everyone does. I spent three years stalking a single zip code, I tracked every repo, every nod, every brown lawn. I know how many nods and nots there were six months ago, a year ago, two years ago and I followed them. A lot of inventory came out of the shadows here already, there are plenty of pending nod’s and not’s but compared to six months ago, a year ago, the speed and volume is slowing. There were more than 250 listings in every 100k price category last year, fromm 200k-300k, over 250, from 300k-400k, over 250, and so on. For three years I tracked every 100k category weekly and often the mls would notify me that there were more than 250, so I began grouping them into 75k chunks, now I can type “everything over 400k” and get less than a hundred. Over 350k and under 350k will cover the entire search, it used to take six groupings to capture the data.
Based on everything I see, not what some conspiracy knucklehead tells me but my own data searches that I and I alone have performed in a ritualistic fashion over years, I say the end of the pity party is near. I have street cred that I have earned over time, you do not, I have adoring fans, you do not, and I just looked in the mirror and I didn’t see a chump, did you?
