One last thing. I have nothing to repent for. I told numerous people to sell in 2004 and have clients that listened who are sitting comfortably on the sidelines with piles of cash waiting to buy back in. I have clients that never bought because I told them to keep renting. I have a client that I had sell a condo in Carlsbad in 2004 which is now down about $150K and I put him in a beach property on a 1031 exchange that is still up over $150K. Think he’s happy? I also have clients that bought during the peak for personal reasons (better schools for their kids) who have lost almost nothing on their purchases. He’s happy too. I just went back and checked all the homes I’ve sold the last five years and I cant think of anyone who is currently in distress or in danger of being so.
