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  #21  
Old 02-25-2009, 03:58 PM
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I'm really enjoying reading this discussion, even though I have virtually nothing to add. Just thought I'd let you guys know.
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  #22  
Old 02-25-2009, 04:14 PM
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I do think its fun to talk about these things as it really does effect all of us. Its also nice that were sharing opinions in a calm manner. Its no fun to discuss when people get upset
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  #23  
Old 02-25-2009, 07:00 PM
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sgtpeper - I closed a deal today for a home in Green Valley for $150k if you can believe it.

Denver is recovering faster than anything on the coasts. California, Florida, Arizona, etc have a LONG way to go unfortunately.

The problem is that people are afraid right now and are laying low. The new stimulus packages are giving banks incentives to short sale instead of foreclose. So what you will see in the news is that foreclosures are going down even though they are just being converted to short sales. It is all about perception.

Once people hear about that on the news, then things will change. Mortgage rates are already extremely low, so that is helping. We are getting ready to refinance a number of customers when they rates drop, which should boost perception.

The thing that most people don't realize is that by the time you hear about it on the news, the bottom has been found and the market is on the up and up. So if you want a deal on a property, this year (sooner than later) is the time to strike.
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  #24  
Old 02-25-2009, 07:09 PM
sgtpeper sgtpeper is offline
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Thats absolutely right. I hate the news just for that reason. All it does is scare people. You have to look at things on the local level. And locally we arent doing too bad at all
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  #25  
Old 02-25-2009, 07:16 PM
sgtpeper sgtpeper is offline
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And if you want to see weird deals, I just head about a 4bedroom 1 bath for sale for 51k asking lol On a 6k sqft lot!
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  #26  
Old 02-26-2009, 12:20 PM
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Quote:
Originally Posted by sgtpeper View Post
Thats absolutely right. I hate the news just for that reason. All it does is scare people.
I was reading an interview with George Soros where he basically said he makes investment decisions not on the news, but on anticipated impacts on people's perceptions, with the resulting (panic) behavior.

Rationality need not apply. In fact it gets in the way of reactive investment. Interesting. The irrationality creates a spread on which money is made.

Chaos theory applied to equities. It does work both ways though.
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  #27  
Old 02-26-2009, 12:33 PM
sgtpeper sgtpeper is offline
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That makes perfect sense too.

My step dad's father was a union plumber in Chicago. He took every penny he ever made and put it into buying larger apartment buildings on the west side of chicago. His formula was to always buy buildings with close proximity to the el trains. It paid off because when he died he left his wife very well taken care of.

I've been looking at the light rail expansion and following the areas that will be effected by it. There is discussion that the light rail from DIA to downtown may run through 5 points which would really make that area come back to life. If only I had an extra million to buy a couple buildings on Welton hehe.

Jeff
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