Eric Proulx of RealEstate.com posted yesterday about the analogy between the real estate market and riding a roller coaster- the "Kingda Ka roller coaster with its record-breaking 418-foot drop" to be specific. Below is Greg Bailey's response to the blog post. Feel free to leave your thoughts on Eric's post or Greg's response!
- Timing a real estate market trend doesn’t necessarily have to be as scary as jumping into the super colossal fly-by-the-seat-of-your-pants roller coaster at your local amusement park. There are peaks and valleys, but similar to the ‘roller coaster’ that slows it’s pace at the end of a hair raising loop and dive, our real estate market is also slowing it’s roll based on positive news from realtors, investors and experts around the country. Interest rates are great, home prices have come down to more realistic values and in my humble opinion businesses are poised to re-invest in local economies once a clear plan is understood at the local and federal levels. If you’re a potential buyer and comparing things from a rent vs. own perspective it might make sense to buy while inventory is readily available, banks are lending money at incredibly low rates and available, properly priced rentals become more and more scarce. If you’re a seller you will be competing with short sales and foreclosures but always remember that potential buyers and available inventory always establishes market value. Always consult a local real estate professional in your area for the best possible opportunities. -