We’ve hit bottom and RE is looking golden again

[unbiasedobserver]

Guys relax, the escalade-driving soccer moms have moved on from their christmas-shopping frenzy highs in december onto their get-rich through real estate by brow-beating their husbands-to-death buying dreams. Same thing happens every year. Last year the Pigs reported almost mob scenes at open houses/new home communities throughout February (go look through the threads if you don’t remember), followed by the spring thud. I personally won’t attend an open house or even pick up a flyer until prices approach sane levels again, it just adds to the mob mentality which is now shifting to picking up cheap foreclosures before the big turnaround. I’m not going to worry about missing the bottom until NODs/NOTS start to drop off which I don’t expect for at least 3-5 years at the earliest.

[ocrenter]

not to plug my own site. but if there is a whole bunch of foreclosures that are being postponed, and the level of foreclosures are still breaking records every month, what does that tell you about the amount of foreclosures a few months down the road. how anyone can even think about buying ‘investment properties’ knowing the amount of REOs coming down the pipeline is simply unreal.

[ocrenter]

not to plug my own site. but if there is a whole bunch of foreclosures that are being postponed, and the level of foreclosures are still breaking records every month, what does that tell you about the amount of foreclosures a few months down the road. how anyone can even think about buying ‘investment properties’ knowing the amount of REOs coming down the pipeline is simply unreal.

[ocrenter]

not to plug my own site. but if there is a whole bunch of foreclosures that are being postponed, and the level of foreclosures are still breaking records every month, what does that tell you about the amount of foreclosures a few months down the road. how anyone can even think about buying ‘investment properties’ knowing the amount of REOs coming down the pipeline is simply unreal.

[ocrenter]

not to plug my own site. but if there is a whole bunch of foreclosures that are being postponed, and the level of foreclosures are still breaking records every month, what does that tell you about the amount of foreclosures a few months down the road. how anyone can even think about buying ‘investment properties’ knowing the amount of REOs coming down the pipeline is simply unreal.

[ocrenter]

not to plug my own site. but if there is a whole bunch of foreclosures that are being postponed, and the level of foreclosures are still breaking records every month, what does that tell you about the amount of foreclosures a few months down the road. how anyone can even think about buying ‘investment properties’ knowing the amount of REOs coming down the pipeline is simply unreal.

[gn]

For those who think that we’re “near or at the bottom”, read this article. The ARMs are failing even BEFORE the resets.

http://money.cnn.com/2008/02/20/real_estate/loans_failing_pre_resets/index.htm?postversion=2008022010

[gn]

For those who think that we’re “near or at the bottom”, read this article. The ARMs are failing even BEFORE the resets.

http://money.cnn.com/2008/02/20/real_estate/loans_failing_pre_resets/index.htm?postversion=2008022010

[gn]

For those who think that we’re “near or at the bottom”, read this article. The ARMs are failing even BEFORE the resets.

http://money.cnn.com/2008/02/20/real_estate/loans_failing_pre_resets/index.htm?postversion=2008022010

[gn]

For those who think that we’re “near or at the bottom”, read this article. The ARMs are failing even BEFORE the resets.

http://money.cnn.com/2008/02/20/real_estate/loans_failing_pre_resets/index.htm?postversion=2008022010

[gn]

For those who think that we’re “near or at the bottom”, read this article. The ARMs are failing even BEFORE the resets.

http://money.cnn.com/2008/02/20/real_estate/loans_failing_pre_resets/index.htm?postversion=2008022010

[CA renter]

unbiasedobserver,

Agree with you 100%.

BTW, I hope nobody took my post above as being “bullish.” I’ve long said that I don’t expect things to turn around (prices going back up in a sustained way) until around 2012, and that’s IF there’s no severe recession/depression and IF the govt doesn’t get involved. With a recession and govt “help”, the downturn will last even longer, IMHO.

[CA renter]

unbiasedobserver,

Agree with you 100%.

BTW, I hope nobody took my post above as being “bullish.” I’ve long said that I don’t expect things to turn around (prices going back up in a sustained way) until around 2012, and that’s IF there’s no severe recession/depression and IF the govt doesn’t get involved. With a recession and govt “help”, the downturn will last even longer, IMHO.

[CA renter]

unbiasedobserver,

Agree with you 100%.

BTW, I hope nobody took my post above as being “bullish.” I’ve long said that I don’t expect things to turn around (prices going back up in a sustained way) until around 2012, and that’s IF there’s no severe recession/depression and IF the govt doesn’t get involved. With a recession and govt “help”, the downturn will last even longer, IMHO.

[CA renter]

unbiasedobserver,

Agree with you 100%.

BTW, I hope nobody took my post above as being “bullish.” I’ve long said that I don’t expect things to turn around (prices going back up in a sustained way) until around 2012, and that’s IF there’s no severe recession/depression and IF the govt doesn’t get involved. With a recession and govt “help”, the downturn will last even longer, IMHO.

[Author]

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