A bull to me is someone who believes a certain asset is going to rise in price in the near future which I don’t believe I ever said. I did say that LCV has not lost value like all the headlines would lead you to believe. That’s still the case today. It’s has basically been flat for going on 3.5 years. You’ll find a foreclosure or two every couple months, but there are still no real deals.
If you actually read my post you would see that I said it would be stupid to sell because renting is not a viable alternative in term of both lifestyle and the rising cost of renting a decent home. If the train has left the station as you say then why did a house here just sell for the 2nd highest price ever in LCV? And it wasn’t even listed in the MLS. And it had a backup offer. But of course you know everything. Just ask you.[/quote]
For those of you whop havent been around long enough to know I was once very bearish on things here is an oldie but goodie. The house he mentioned that sold for the 2nd highest price ever in LCV? It closed as a short sale almost 3 years to day the later at a loss of about $400K. The buyer was a friend of mine who sold one of the smallest houses in the community at the peak, sat on the sidelines for 3 years and then picked up a gem. Winning!!!
And what became of my foil-ozzie? Instead of selling and moving into a “substandard lifestyle rental home” he stayed put. His house is now on the market and he will likely lose close to $400K on his 2006 purchase wiping out all the equity he had when he sold his prior home and moved up. Losing!!!
