Monday, January 15, 2007

"Don't let this buyers market pass you by!"

I hope everybody is having a great 2007 so far. Let's see...Donald and Rosie are in a spat, Beckham is coming to Los Angeles, the Chargers blew another playoff game, and YES...real estate is still overpriced in many areas.

I know it has been a while since my last post, but I am just here to casually remind you to do your own research and not buy into the latest and greatest marketing hype.

I saw this one today on a big ad: "Don't let this buyers market pass you by!". And it went on to say how you will miss the next run up if you don't buy now and let this "great opportunity" pass you by. ARE YOU KIDDING ME? Depending on who you talk to and the location, most would say this 'buyers market' has been going on for about 6-12 months. I'm sorry, but after a 5-8 year bull run in real estate which was predominately a 'sellers market', don't tell me that a few months where buyers aren't taking it in the shorts and are allowed to negotiate means that the bubble is 'over'.

It is nice that property values are much softer in many areas now...but property in many areas is still extremely over valued. So before you fall for the latest and greatest marketing that is being used by real estate agents and brokers, be sure to do the math for yourself and see if it REALLY is a good deal.

That said, stay tuned as I will have more posts coming. Also a big thanks to everybody that voted for me for the REBA award. I took 2nd place in my respective category.

Remember...2007 is the year when things REALLY start getting interesting.