"Time to go shopping!" WTF! Dude, everything not only sucks, it's 30-50% overpriced. It will take years to purge this poison. And how many realtards complained about the "over-hyped positive news" during the loose lending, global ponzi run-up? Sacramento realtors need to STFU. BTW, those "paniced" sellers need to get out because they are underwater on their loans.
Just like Warren Buffet says, "Look to buy when and where the news is all doom and gloom. That's where the deals are"(I'm paraphrasing). Guess what... these bear market cycles in the Sacramento zip codes; 95864, 95825, and 95608 almost NEVER last more that 3 years. This one started in Aug of '05. We're in year three right now. Everyone says they want to buy low and sell high. Well, buy when the predominant media and public sentiment says that everything sucks and, if you know how to find potential deals and negotiate, you'll be buying low. Thanks to the over-hyped negative news, there are a lot of paniced sellers out there with some equity who really need to get out. Time to go shopping!
THE SKY IS FALLING!!!
REAL ESTATE MARKET TANKS! DESPARATE SELLERS CAN'T FIND BUYERS! FORECLOSURES RUNNING RAMPANT! BANKING STOCKS PLUMMET...
Anyone who has even a cursory knowledge of current events can tell you that the news from the real estate and real estate finance markets is all gloom and doom. But, does this mean it's time to buy?
So I want everyone to remember that Tyrone says that the median price in 95864 needs to be $194,000 before anyone but a sucker would buy. Hey... do I get some kind of membership card or T-shirt for the Housing Bubble Hall of Shame? What are the criteria for induction?