My thought for the day

We’ve been here before…No matter how bad it gets, it will pass. Each time our economy recedes, it comes back stronger

An interesting Zillow survey

49% of U.S. homeowners believe their home's value has increased or stayed the same over the past year, according to Zillow's Q3 Homeowner Confidence Survey. In reality, 74% percent of homes have lost value in the past 12 months, according to preliminary findings in Zillow's Q3 Real Estate Market Reports, which will be released Nov. 12. Other findings from the survey:
Supporters of Republican presidential nominee John McCain have more confidence about their homes' values than supporters of Democratic nominee Barack Obama. Fewer people expect to buy or sell a home in the near future: Three percent plan to sell their home in the next six months, down from 5 percent last quarter. Three percent plan to buy a home, down from 4 percent in the second quarter.

oh, the negativity!

No matter how bad it gets, it will pass. Each time our economy recedes, it comes back stronger. You can't time the market, but we are getting closer to the bottom, but won't know we're at the bottom until the media reports it months later. There are too many buyers out there looking for the "world's best deal of all time", but I think it's definitely possible to settle for getting a great deal now. There is almost too much information out there, causing paralysis, but in Pasadena in the past 2 months the low end is getting multiple offers and is probably hitting bottom.