Housing won’t hit bottom ’til 2012

[jpinpb]

[quote=sdrealtor]ocrenter is perfect example. He bought his house at a time no one thought was a bottom but he found his own. The time to get what he got is past but he saw it and had the confidence to act because he was diligently watching the whole time.[/quote]

I could be very mistaken, since I don’t know where ocr bought, but something tells me it wasn’t a high-end luxury home along the coast. I think there’s still room to drop as the article alludes, especially the high-end. Already seeing some drops in 92106 that I didn’t see last year.

[bearishgurl]

[quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={

[bearishgurl]

[quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={

[bearishgurl]

[quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={

[bearishgurl]

[quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={

[bearishgurl]

[quote=sdrealtor]The persist for a few years is the key but that doesnt mean wait a few years and then head out. The best deals are very elusive. The house my client is getting is the kind that stays in a family forever and only rarely do properties like this hit the market at any time or any price. If you arent looking now and arent ready to strike when that opportunity presents itself (which could take a couple eyars of work to find) it is very unlikely you will be among the truly big winners in this cycle.[/quote]

For ONCE, sdr . . . I agree. I’ve experienced a few “cycles” in my lifetime and always have known this. I’ve tried to articulate this concept here, but feel it may have fallen on deaf ears :={

[bearishgurl]

[quote=walterwhite]Obviously noone knows the future. But I think it may be true that finding the right place at a good price w good interest rate takes work time And knowledge about what you want and luck much more so than I wouldve thought. Simply waiting for the bottom is an exercise in futility, since it too is impossible to know.[/quote]

scaredy, totally agree here. And I am happy for you that you found the confidence in the face of uncertainty to ACT on a property that will suit your needs for a VERY LONG TIME to come. Congratulations, again!

[bearishgurl]

[quote=walterwhite]Obviously noone knows the future. But I think it may be true that finding the right place at a good price w good interest rate takes work time And knowledge about what you want and luck much more so than I wouldve thought. Simply waiting for the bottom is an exercise in futility, since it too is impossible to know.[/quote]

scaredy, totally agree here. And I am happy for you that you found the confidence in the face of uncertainty to ACT on a property that will suit your needs for a VERY LONG TIME to come. Congratulations, again!

[bearishgurl]

[quote=walterwhite]Obviously noone knows the future. But I think it may be true that finding the right place at a good price w good interest rate takes work time And knowledge about what you want and luck much more so than I wouldve thought. Simply waiting for the bottom is an exercise in futility, since it too is impossible to know.[/quote]

scaredy, totally agree here. And I am happy for you that you found the confidence in the face of uncertainty to ACT on a property that will suit your needs for a VERY LONG TIME to come. Congratulations, again!

[bearishgurl]

[quote=walterwhite]Obviously noone knows the future. But I think it may be true that finding the right place at a good price w good interest rate takes work time And knowledge about what you want and luck much more so than I wouldve thought. Simply waiting for the bottom is an exercise in futility, since it too is impossible to know.[/quote]

scaredy, totally agree here. And I am happy for you that you found the confidence in the face of uncertainty to ACT on a property that will suit your needs for a VERY LONG TIME to come. Congratulations, again!

[bearishgurl]

[quote=walterwhite]Obviously noone knows the future. But I think it may be true that finding the right place at a good price w good interest rate takes work time And knowledge about what you want and luck much more so than I wouldve thought. Simply waiting for the bottom is an exercise in futility, since it too is impossible to know.[/quote]

scaredy, totally agree here. And I am happy for you that you found the confidence in the face of uncertainty to ACT on a property that will suit your needs for a VERY LONG TIME to come. Congratulations, again!

[Anonymous]

[quote=sdrealtor]My best friend had a 5/1 ARM that reset last year. He doesnt have any equity but isnt underwater either. He makes plenty of money, comes from a wealthy family and has plenty saved so he isnt worried at all. The reduction in his monthly payment was enough to make the monthly payments on his new BMW.[/quote]

Is this interest only? If so, how can he not be underwater? I am still waiting for an example of an interest only loan made during the bubble where the payment went down.

[Anonymous]

[quote=sdrealtor]My best friend had a 5/1 ARM that reset last year. He doesnt have any equity but isnt underwater either. He makes plenty of money, comes from a wealthy family and has plenty saved so he isnt worried at all. The reduction in his monthly payment was enough to make the monthly payments on his new BMW.[/quote]

Is this interest only? If so, how can he not be underwater? I am still waiting for an example of an interest only loan made during the bubble where the payment went down.

[Anonymous]

[quote=sdrealtor]My best friend had a 5/1 ARM that reset last year. He doesnt have any equity but isnt underwater either. He makes plenty of money, comes from a wealthy family and has plenty saved so he isnt worried at all. The reduction in his monthly payment was enough to make the monthly payments on his new BMW.[/quote]

Is this interest only? If so, how can he not be underwater? I am still waiting for an example of an interest only loan made during the bubble where the payment went down.

[Anonymous]

[quote=sdrealtor]My best friend had a 5/1 ARM that reset last year. He doesnt have any equity but isnt underwater either. He makes plenty of money, comes from a wealthy family and has plenty saved so he isnt worried at all. The reduction in his monthly payment was enough to make the monthly payments on his new BMW.[/quote]

Is this interest only? If so, how can he not be underwater? I am still waiting for an example of an interest only loan made during the bubble where the payment went down.

[Author]

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