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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: fatty who wrote (11778)7/25/2003 5:26:59 PM
From: TradeliteRead Replies (1) of 306849
 
<<I think it takes the seller, the buyer, the broker and the mortgager to make a real estate market. Of the four parties, the buyer is the most unfortunate one IMHO.>>

You have listed the parties who usually are necessary to complete a transaction. You haven't described a market.

There isn't a single seller in this world until someone (a buyer) decides to buy from that seller. Until then, all you've got is a wannabe.

About 12-13 years ago, buyers in my area decided en masse that they didn't like what the sellers were offering at the high prices being quoted. Prices literally did get higher than the "market" could bear. That changed the market and the market's psychology and had an impact which was felt for years--until the market began to return in the mid-1990s.

Of course, the "market" only changed when the mindset of the wannabe sellers changed enough to meet the "market" on the market's own terms. For the last several years, the supply of wannabe sellers has been outstripped by the number of wannabe buyers, so prices have gone up.

Another way to look at the "market" is to consider whether, at any point in time, sellers are competing with other sellers for a buyer (usually by reducing prices), or buyers are competing against other buyers for a property.

It's all very simple to understand once you get the hang of it. <<GGG>>>
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