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Posted by Charles_CA on 8/28/05 2:19pm
Msg #62321

Well, Greenspan made it official, things are slowing down!

Alan Greenspan made the following statement as reported by Reuters "The housing boom will inevitably simmer down," the Fed chief said. "As part of that process, house turnover will decline from currently historic levels, while home price increases will slow and prices could even decrease."

Now we can sit back and watch the rush for the door as the shakey SSs and uncommitted notaries leave the scene. Business however, will be better for it. I've been seeing a longer time on market for most homes already, and, while California and certain other parts of the country will probably not see decrease in houseing prices the rate of sales will definately slow down as will the volume of loans.

Reply by TitleGalCA on 8/28/05 5:37pm
Msg #62341

History of the RE Market is definitely cyclical...isn't it Charles?

Good post and so true, about the uncommitted. A new market will weed out those that want to make a quick buck while the pro's will no doubt retain their base clients as accuracy in signings will become that much more important in a down market. Good post as always!

Reply by Lydia_Fl on 8/28/05 5:49pm
Msg #62342

They come ......and go

As fast as they come .... they go.

Reply by mimurray on 8/28/05 7:55pm
Msg #62350

Re: They come ......and go

Business is still pretty good here in Fl. I do agree that this will weed out inexerienced people and some newbies. I remember when I first became a realtor they taught you in class that the typical new realtor makes 12,000.00 their first year and those numbers haven't changed much. I have seen SO many wash out because they think once they get that license that the money is just gonna roll in. Nothing could be further from the truth. it takes quite a bit of time to get your businnes going and the wash out rate is pretty high. I would imagine it's the same in this business.

Mike