waiting for bottom, well explained… you could be right…I guess our rides to the bottom arrive at the same destination by different paths. My ride to the bottom (regarding pricing) is filled with incremental price increases and larger/longer losses and the losses simply outweigh the gains over the next few years….
My concern is that there are still SOOOOO MANY sellers in denial out there who actually believe that they can list in the spring at a higher price then they left off when they bailed the market in October. Who knows what malarky they also may have been fed by some agent who wants to retain the listing as well ya know? To me we are still in the early stages of this massive depreciation event.
I guess all I am saying is don’t ever doubt the (stupidity, stubborness, boneheadedness, greediness) of sellers this early in the cycle. Also all it takes is one home to go for a little bit higher value to spark a false wave of optimism and everyone reacts on it…this can happen in many neighborhoods this spring…
Lots of sellers love to react on a little good news rather then alot of bad news…
Personally I do think we will get a little listing price bump in the spring due to a bit more sales activity, a bit more false hope, a lot more denial, and all of this will vary with type of housing and location. That is just my opinion and yes it could very well be wrong just like my bet taking the colts over the chargers and my reluctance to bet the jags over the chargers was wrong…
