Where Is the Bottom of This Real Estate Bear Market?

stormyseas

Where is the bottom of this real estate bear market?

Which economists got it right?

Here’s one.  Nouriel Roubini.

He predicted all of this mess a year ago while Wall Street execs were still flying high in their private jets and spending thousands on fancy toilets and such.  (Sounds kind of like the way our government spends, huh?)

Pick your gurus with care as we go through this recession.  That’s my main advice.

But what does Roubini have to say about the bottom for real estate?

“The value of homes has already fallen 25%. In my view, home prices are going to fall by another 15% before bottoming out in 2010. ”

There you have it.  Somewhere in 2010.

Where I disagree with him is that there are areas where home prices have not gone down as much as 25%.  However- how much farther will they fall is our real question?

Here’s what Wayne Rodgers has to say.  Wayne also got “it” right.

I know, I know, he’s into stocks and commodities, but his advice holds also true  for those of us in real estate.

“The key in times like these is to stay solvent so you can load up when opportunity comes.”

There’s a ton more in a series by Fortune Magazine – 8 Really Really Scary Predictions

 

More from the Net

BloodhoundBlog.com | The rest of the real estate industry might be … – Totally stunning email this morning from John Kalinowski of LiquidBlueRealty.com. John is a profile in courage, to my way of looking at things. He’s just launched a brand new brokerage. In this real estate market. In Cleveland. …. June 7, 2008: Has the Phoenix real estate market turned the corner? It’s too early to tell, but May’s results suggest we may be nearing the bottom · May 31, 2008: Looking for the bottom? Real estate speculators are establishing the …

 

Beware: Credit Card Companies Profiling You

This disturbing credit card news is just in about how some credit card companies are profiling us and getting away with it. Where you shop could bring your score down…

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This disturbing credit card news is just in about how some credit card companies are profiling us and getting away with it.

I had to read this article twice but it’s there in black and white.

You can get profiled because of the other people who are trading at the same store where you are buying things.

So, if you shop at a discount store, no matter what your income level, it can harm your credit score.

Folks, this is scary.

I’ll go out on a limb here if any credit card companies would humble themselves enough to read my blog, but I like shopping at K-Mart.

It’s one of my favorite stores.  I like it better than Walmart.  I like saving money at K-Mart. 

 Isn’t saving money what we’re supposed to be doing during this recession?

Hello?  Credit card companies, did I miss something here?

What do you expect me to do- shop at Williams Sonoma all the time?

 Does it count if I buy most of my clothes at Talbots and Brooks Brothers?

Of course you’re probably wondering what this has to do with our real estate investing…

Plenty.

Our credit scores affect how we borrow money- just as soon as the money gets plentiful again where we can go to the banks and borrow…

Read Some Credit Card Companies Financially Profiling Customers

      

Is Gabe for Real?

Gabe Strom is 25 years old and claims to be a seasoned real estate investor.

Sometimes you wonder about kids like this until you listen to what they say.

Gabe has a lot of wisdom for such a young man, and is willing to  share it.

 

One of the most important pieces of wisdom, you don’t hear from most gurus, is to find yourself a mentor.

Gabe also advises to find a group of people to support you and your business.  The best place in real estate is your local real estate investing club.

Then he tells us to copy what the mentors have done to get their wealth.

This is very important because the basic fundamentals of real estate investing never change.  Markets come and go, ebb and flow, but fundamentals are fundamentals.

10 Best Cities to Invest In

The 10 best cities to invest in are led by none other than Washington.
Are we surprised by the top town on Forbes’ latest list?

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The 10 best cities to invest in are led by none other than Washington.
Are we surprised by the top town on Forbes’ latest list?
Not really.
Everyone has been talking about all that stimulus money and guess what, a lot of the stimulus will be a happening thing right in the backyard of the capitol.
There will be many folks moving into the area over the next few years and that should keep realtors very busy.
Check out the Forbes List of 10 Best Cities to Invest In

How to Get REO Realtors to Deliver the Deals

Real estate investor wholesaler Bob Norton gives insider tips on how to get REO realtors to call you with the deals that can make you money

Real estate investor wholesaler Bob Norton gives insider tips on how to get REO realtors to call you with the deals that can make you money.

 

Everyone knows REO realtors know where the great properties are and Bob Norton tells us how he trains them as his own personal bird dogs.

It is interesting to note Bob N0rton is located in the Detroit market which is seeing a lot of foreclosures.

Here are the tips that I’ve found to be particularly interesting.

How to approach REO realtors

How to build credibility  with them

How to compete with other wholesalers and get to the deals first.

REO realtors are out there and can  help you with your real estate investing by opening the inside door for  great foreclosure deals.