Comments on: Real Estate Market 2001 – 2008 – We Goofed

By: Christopher Hain

Christopher Hain — Sat, 27 Dec 2008 05:53:24 +0000

I know it seems bad while we’re going through it, but despite all the economic calamity of the past year we’re really kind of on track with the predictions I was looking at a year ago: http://terrafirmala.com/2008/12/when-will-housing-market-recover.html

By: Umair Suleman

Umair Suleman — Sat, 20 Dec 2008 22:05:54 +0000

A very big goof. We have all been struggling, the rents eat up 70% of revenue from all sources. Its just unbeleivable.

By: Todd Covington

Todd Covington — Sat, 20 Dec 2008 06:05:49 +0000

I must say that was a big Goof. Common sense told everyone 2008 was going to be a rough year. Simply compare average household income to average price of a home. Not to mention instincts said 2008 looked sour too. Today, homes are still WAY over-priced. You can expect a poor 2009 also. I do expect it to flatten out in 2009 and a very slow upturn in 2010. I just got my website up and running so I sure hope I’m wrong.

By: Daniel

Daniel — Tue, 16 Dec 2008 07:55:20 +0000

Hi,

You are right about it. I think it will start to pick up after mid 2009 globally. Just a abstract thought

By: Idaho Land

Idaho Land — Mon, 15 Dec 2008 20:59:25 +0000

I hope it only lasts another couple of quarters cause the impact is so far reaching.

By: Tampa Real Estate

Tampa Real Estate — Mon, 15 Dec 2008 20:23:46 +0000

Daniel we still have some issues to work through. The bottom is tough to call. Because real estate is local in nature the bottom of any given market is the best price someone paid for a house in the area you are looking in.

If you are looking to buy a primary residence for yourself and plan on being in the house 5 – 7 years (normal time people stay in a house) than now is the perfect time to buy. If you are an investor there are still Short Sales and Foreclosures to work through.

Real Estate inventory levels here in the Tampa area have dropped somewhere in the area of 20% since the high last year. It looks like the the combination of low mortgage rates and low prices have started to bring buyers back out. Some are having a hard time securing financing but they are at least looking.

In my opinion in the Tampa area we will see February start to see a pickup. It won’t be a full year before the market really shows signs of a change.

By: Daniel

Daniel — Sun, 14 Dec 2008 05:21:46 +0000

How long do you think this crisis or bubble will last? I hope to see a rise in the market mid 2009 onwards.

By: Brandon Green

Brandon Green — Tue, 25 Nov 2008 01:03:28 +0000

The Economist magazine, a Bible here in Washington DC, talked about a real estate bubble for years before the current crisis.