Profile picture for klarek the realist

Is it true that you can't time the bottom?

When the bottom passes will prices automatically skyrocket and price me out?  Because I like kicking back, letting the months roll by, and watching prices fall into the housing abyss.  If I listened to any RE Agent's advice last year, I would be in big time trouble right now, next year, and five years from now. 
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December 18 2008 - Fairfax
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Answers (7)

Best Answer
LOL Klarek,
I'll answer as if you were really asking...
The bottom will be here for a long time.
While every "boom and crash" may be different, looking back at past trends can be a good indicater of how things may go.
Sharp rise...steep drop...looong slow steady hardly noticeable rise...then go back and start all over again

As for "any RE Agent's advice"...don't be dramatic :-)
AzRob is  an agent
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December 18 2008
LOL Space_Truss
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December 19 2008
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Interesting. I click Submit, it says please enter the valid content?

Should I say it is a great time to buy ?

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December 18 2008
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Interesting. I click Submit, it says please enter the valid content?

Should I say it is a great time to buy ?

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December 18 2008
 The whole concept of not trying to time the market is really based on more liquid investment vehciles and not houses. The reality is if the housing market were to suddenly turn and go up, it would do so at a pace that will still allow buyers to get near "bottom" prices.
 While with shorter term, more volitale investments, when you miss something it goes quickly. Look back at the stock market for example. When about 2 months ago we crossed below 8000 for the first time, within 2 days we were up 1100 points!!! That was over 13% correction in 2 days. Then of course we faded and traded down again. Houses are not as liquid and are not as volitale. Dont worry about missing the bottom on housing market. Chances are not every seller will know we hit the bottom so you can still get homes. Only difference is that interest rates may be higher.
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December 18 2008
Profile picture for javi30
I'm with you klarek, now when will be a good time that's the question?I live in the OC area (Costa Mesa) and let me tell that price's came down a little but still you would pay 450K for a shithole soo the question is if they ever going to come down to the levels that the normal people can afford!?!?! 
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December 18 2008
Profile picture for aapostrophe
depends, but i do know this.  when they tell me i need to BUY NOW and that i shouldn't try to time the market, they are, in fact, timing the market themselves.  as in- they better get me to buy quick 'cause the time is running out for their fat commission check.
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December 18 2008
 
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