Real Estate Slump

jrc · 10-30-2006, 04:04 PM

If you don't have to sell, wait. The next year will be tough. A lot of people who were just selling because the market was so inflated will just decide to stay. But, the people who have to sell for a variety of reasons will take the worst of it.

If you follow the real estate prices in MLS you'll see a lot of people still haven't realized that the trend has turned. I've seen side-by-side pretty much identical properties where one is 40% lower. Worse yet, neither is selling.

But remember the secret to success is buy low, sell high. Buying low is the hard part, it's tough to get in a market while everyone is running away.

10-30-2006, 04:04 PM	#4
jrc Senior Member Join Date: Apr 2004 Location: NH Posts: 2,689 Thanks: 33 Thanked 439 Times in 249 Posts	If you don't have to sell, wait. The next year will be tough. A lot of people who were just selling because the market was so inflated will just decide to stay. But, the people who have to sell for a variety of reasons will take the worst of it. If you follow the real estate prices in MLS you'll see a lot of people still haven't realized that the trend has turned. I've seen side-by-side pretty much identical properties where one is 40% lower. Worse yet, neither is selling. But remember the secret to success is buy low, sell high. Buying low is the hard part, it's tough to get in a market while everyone is running away.