SDR devils advocate here. Since the last trough we have had some years of 30% appreciation interspersed with mostly relatively more moderate years. Why do you rule out the potential for drops bigger than 10% per year? On another thread I gave an example of a place that is already at 38% of the purcahse price and that was a market sale that occurred well before what people typically call the peak. It is in an outlying area and I doubt it is what anyone here wants but if it can happen there I am of the opinion it can happen here adn I have a educated hunch that it is about to.Also, although the revisonist history of the 1991 bubble burst doesn’t show it, the market did in fact implode for the most part.I don’t buy that “long and slow” has been reasoned out here yet?
I have been working my title contacts over about easements lately. That’s a pain. I have never asked them about forclosure data. Do they give you addresses and loan information or just tallies? I am sure they
can give you that information but do they give it to you for all foreclosures in the county just like that?
Another thing people might want to take into consideration on this blog is how long ago the last bust was. Even Realtors that were working back then have to adjust to this market. For many Realtors it is the first time dealing with a down cycle. I would imagine that most the people that don’t have the integrity and skill to deal with a down cycle have already left the business or will be leaving soon.
One more question, Do you do property mangement?
