Red Bluff Reservoir Topics: Gamblers market?
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Name:   John C The author of this post is registered as a member - Email Member
Subject:   Gamblers market?
Date:   11/14/2007 9:10:25 PM

"gamblers market" - I think that is hyperbole.

I agree that values have not increased from Aug 06 to Aug 07. But LM waterfront properties averaged 30% PER YEAR from 2000 to 2006. So, averaged out, still an excellent investment.

The last buyer's market was 1999 into 2000, when there was little if any increase. It's not unprecedented. It's just life. Back then the tech stock bubble burst and hurt a lot of people's "free money" - and rates were at 9.5%.

I don't think we'll see those 50% price reductions that are all over the news in other places like Florida. That comes from entire developments that are owned by one builder. There aren't really any places like that on the lake. While there are many spec homes for sale, most are still by private citizens, who aren't under as much pressure to sell.

I do think sellers need to lower their prices, though.

By the way, I recently read in the WSJ where Warren Buffet is buying CDOs now. Collateralized Debt Obligations are bonds backed by home mortgages - one financial instrument that many say fueled the subprime lending panic. Anyway, Buffet is a buyer - apparently thinking that they are valued too low due to investors fear and media hype.

What does that tell you?
Other messages in this thread:View Entire Thread
Resale values - dooblebug - 11/13/2007 10:49:57 PM
     Resale values - ecstasypoint - 11/14/2007 9:31:07 AM
          Gamblers market? - Ulysses E. McGill - 11/14/2007 9:49:21 AM
               Agree 100% - lamont - 11/14/2007 12:53:14 PM
                    Agree 100% - ecstasypoint - 11/14/2007 2:59:45 PM
                         Absolutely Wrong! - lamont - 11/14/2007 3:58:06 PM
                              Absolutely Wrong! - JIM - 11/14/2007 4:02:33 PM
                                   You Da Man Jim - lamont - 11/14/2007 4:10:24 PM
                         Absolutely WRONG! - LifeTime Laker - 11/14/2007 7:29:08 PM
                              Absolutely WRONG! - ecstasypoint - 11/15/2007 8:24:12 AM
                                   Absolutely WRONG! - lamont - 11/15/2007 9:29:49 AM
                                        Absolutely WRONG! - LifeTime Laker - 11/15/2007 9:34:28 AM
                                             Absolutely WRONG! - rude evin - 11/15/2007 10:02:09 AM
                                   Absolutely WRONG! - lamont - 11/15/2007 10:41:39 AM
                                   Absolutely WRONG! - LifeTime Laker - 11/15/2007 2:53:25 PM
                         Agree 100% - Ulysses E. McGill - 11/15/2007 7:28:26 PM
                              Agree 100% - Feb - 11/15/2007 7:58:01 PM
                              Agree 100% - LifeTime Laker - 11/15/2007 8:20:00 PM
                                   Agree 100% - Ulysses E. McGill - 11/15/2007 8:37:12 PM
               Gamblers market? - John C - 11/14/2007 9:10:25 PM
                    Gamblers market? - roswellric - 11/18/2007 8:43:21 PM
               Gamblers market? - Feb - 11/15/2007 12:19:10 PM
     Resale values - Feb - 11/14/2007 9:40:46 PM
     Lake Harding in Georgia... - greycove - 11/15/2007 2:21:43 PM
          Lake Harding in Georgia... - Webmaster - 11/15/2007 7:35:25 PM


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