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Old 01-13-2010, 08:59 PM
 
Location: Between Seattle and Portland
1,266 posts, read 2,842,430 times
Reputation: 1496

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Realtors, would you please provide some feedback on this website post:

The New Year’s Guide of 10 Key Charts To See Before You Buy A Home « NewObservations.net

"Michael David White has seventeen years in real estate as both lender and owner. He has purchased and sold more than 275 properties for his own account. Mr. White, the CEO of The New Mortgage Company, originates residential mortgages from his office in Chicago’s Loop financial district. He has advised hundreds of borrowers on both their mortgage and real estate investments.

His blog, NewObservations.net, contributes to Implode and Patrick, leading mortgage industry web sites, and Seeking Alpha, a Forbes “best-of-the-web” financial website. Mr. White is the author of Plan Orange -- a plan to end the financial crisis."

My take is that I shouldn't buy before 2012 AT LEAST.

Would you say, if he is right, that waiting a couple of years would be the best move???
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Old 01-14-2010, 09:49 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,958 posts, read 19,170,462 times
Reputation: 6383
Well his comment that: "There’s no question that the local is much more important than the national. Thanks for your comment. mdw"

What's your LOCAL real estate market been like? What is it doing now? and where to the locals think it will go?
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Old 01-14-2010, 10:36 AM
 
Location: Philaburbia
32,369 posts, read 59,807,408 times
Reputation: 54007
I'm not a realtor, but I'd say that some people are really over-thinking the home-buying process.
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Old 01-14-2010, 05:12 PM
 
1,465 posts, read 4,555,232 times
Reputation: 852
Quote:
Originally Posted by Ohiogirl81 View Post
I'm not a realtor, but I'd say that some people are really over-thinking the home-buying process.
I agree.

I am more active in stocks than real estate but I see some similarities. Especially the last year, there hardly is a news report that doesn't come out and say the analysts were wrong. Like "unemployment rose more than expected" or same store sales reached an unexpected high". This has been going on for a solid year. When will the financial analysts just say, "we have no idea what we are talking about"?

And you want to talk about charts and graphs?? The stock world has the real estate world beat in spades. When it doesn't accurately forecast direction, the analysts come up with another set of rules and another name for the new pattern and off they go.

All of that was to say, yeah the charts give some information but I wouldn't bet the farm on them.

Last edited by DowntownVentura; 01-14-2010 at 05:21 PM..
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Old 01-14-2010, 07:29 PM
 
Location: NE Atlanta suburbs
472 posts, read 747,315 times
Reputation: 213
Quote:
Originally Posted by Ohiogirl81 View Post
I'm not a realtor, but I'd say that some people are really over-thinking the home-buying process.
I agree. I mean, when real estate was going up, up, up everybody was buying up homes without a second thought.

Now that prices have come down, all of a sudden it's not such a good idea anymore?

I mean, I don't know about you, but I'm all about a sale. The mentality leaves one scratching their heads. If your looking to buy a house to make a profit, then you're a speculator.
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Old 01-14-2010, 08:52 PM
 
532 posts, read 1,451,539 times
Reputation: 344
Quote:
Originally Posted by Ohiogirl81 View Post
I'm not a realtor, but I'd say that some people are really over-thinking the home-buying process.
I'll be the odd one and disagree. I've been taking a long thoughtful time to buy a house and I suppose one could find fault with me and say I am analyzing too much or I am a fence sitter or it's getting boring, but every time I've decided to say no to a particular deal, time has shown my decision to be the right as formally okay neighborhoods continue to decline and prices continue to fall.

Prices declined a lot during the time I've been looking (like 35%). (This is since summer 2008) I'm glad I analyzed and waited. 35% is a lot.


By the way, the comments to that link seemed kind of artificial. They all had the same tone and reiterated the points in the main article. I wonder if that guy write them all himself.
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