The Record, our North Jersey News paper quoted myself and other brokers on market conditions. There front page story, REAL ESTATE SUFFERS WORST YEAR IN DECADES- Where's the bottom? printed Sunday March 22, 2008. The article can be seen in it's entirety electronically at Where's the bottom?
To go further, I think we are bottoming now. Many parts of the country are experiencing higher volume. Bergen County is also picking up. The market will eventually not be anything it seem it would be. That is the way it works!
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Richard
Richard - Awesome ! Congrats on being quoted in The Record ! I think more folks should be listening to you as I think you know what you are talking about. I agree that markets are bottoming or maybe some have already bottomed ! It would be great to see more media reports stating that... when that happens, I would also expect a mini surge per se.
Congratulations Richard! Our Atlanta statistics are due out early this week. I am very curious how they will stack up. The bottom may be ahead, but we are not there yet in Atlanta.
Christopher and Stephanie,
I try to mix the same technicals I use in the futures and world markets in real estate. The only different real estate trades slower. Thank you for your confidence and encouragements.
Richard
Jim,
Thank you, I am still as you, worried about Atlanta because of the huge inventory and the vast structural difference on how the banks did business there. Atlanta needs investors to move in a big way. The banks that have made the bad deals, as you have been reporting have been taken over one by one. I hope the FDIC starts the ball rolling and auctions the vacant properties. The government must look at these areas on a niche basis. Not all areas are the same. Once clean out and repriced, the market can get well.
Just watch the dollar.
Richard
I see the bottom as long as we don't see any more major underwriting guidelines or interest rate hikes!