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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (57747)	7/14/2006 3:01:25 PM
From: Still Rolling	Read Replies (1) \| Respond to of 306849

Thanks for posting the Washington Times article. I guess the capacity for self-delusion is one of the critical elements of a successful real estate career: "Buyers today are more committed, which is good for sellers," says Susann Haskins, co-manager of the Long & Foster Real Estate Inc. Potomac/Cabin John office. "When we had the frenzied buying of recent years, we saw people buying without giving thought to what they were doing," she says. "Sometimes, they would find ways to back out of contract. But today's buyers are more committed to the transaction because they've had time to see the house more than once. They've thought about it, and made a conscious decision rather than an impetuous one." BUYING WITHOUT GIVING THOUGHT TO WHAT THEY WERE DOING....hmmm, what other market does that sound like circa 1999...

To: Les H who wrote (57747)	7/15/2006 1:04:51 AM
From: John Vosilla	Read Replies (2) \| Respond to of 306849

"It is very important for today's sellers to understand what the market is doing," Mrs. Haskins says. "It's not a crash, it's normalization. Those of us who have been in the industry for 20 years or more have seen this before." I've never seen valuations so stretched as today, debt levels and use of toxic loans as they are today, speculation as today or overbuilding as today. Too many with a lot of experience seem to wear the same blinders as the newbies who were in grammar school during the prior downturn. Do you think even 12 months of inventory, a recession, war in the Middle East, $4 gas or rising interest rates would shake their resolve?