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You Make Money When You Buy, Not Sell

The title of this post is something I heard a few times over the years.  It didn't make a lot of sense then but sure does now. Reminds me of something Warren Buffett would say.  One of his most famous & recently well used quotes is "to be cautious when others are greedy, and greedy when others are cautious." Less face it, right now, a lot of people are cautious. Even with the 20-50% price drops, and more and more bank owned deals hitting the market, some buyers continue to wait on the sidelines.  I am not … [Read more...]

Big Bear Home Sales For September 2008

Home sales in Big Bear hit their highest mark of the year with 82 homes sold in the month of September. This surpasses the previous monthly high of 2008 which was 67 homes sold in the month of May.  This is also 22 (27%) more than Aug. 2008 and the previous Sept. 2007. The median price for Sept. home sales was $224,500, down 21% from Aug. 2008 and down 17% from Sept. 2007. The median price has been all over the board the past 5 months, ranging between $205,000 to $290,000.  With such a limited amount of sales, I … [Read more...]

Trying To Time The Real Estate Market

Whether it is with selling or buying, everyone would like to time the market.  A seller always wants to sell at the peak while a buyer always wants to buy at the bottom.  Who wouldn't?  But the reality is that timing the market happens more by luck than strategy.  By the time you know it is the bottom, or top for that matter, it will have already passed. Below is a quick video I did this morning talking about clients who want to time the market in the Big Bear purchase and what I believe they should … [Read more...]