OfflineI have heard people quote this person and that professional but truly do not know how to find the bottom themselves.
Each area will have it's own bottom. Each area will act independently.
The bottom will be found through statistic. Websites such as FHFA.gov will show pricing indexes. You can see how depreciation of homes grow less and less. If you were to graph it you would see possibly in your are a bowl of sorts - This could be the bottom.
The bottom can also be found a construction begins again and people move into your are. Other items that you can use would be seeing people purchasing homes more and more. A Realtors area sales analysis can show you this.
Even simple items can show you where you are to the bottom of the market. Use these to your advantage and build a good opportunity.
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http://www.realestatetiming.com/
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Richard Russell (Dow Theory Letters): Campbell - housing to trough in 2012
“I read a great deal about real estate, and I follow real estate trends closely. By far the best real estate guidance that I’ve come across is Robert Campbell’s ‘The Campbell Real Estate Letter’. Nothing I’ve read compares with Campbell’s great record. Bob Campbell called the exact top of the real estate cycle in his report of August, 2005."
Read more: http://www.advisoranalyst.com/glablog/tag/london-school-of-economics/#ix...
.....Note that the trough prediction was made in 2009...much has changed due to govt intervention and the economy. He does have an excellent track record. He has also written a book "Timing The Real Estate Market"
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The best report on the housing market we’ve seen so far comes from the “Campbell Real Estate Timing Letter.”
Read more: Declining House Prices Weigh Heavily on Underwater Homeowners http://dailyreckoning.com/declining-house-prices-weigh-heavily-on-underw...
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As Robert says, "If bought at the wrong time, location is of no use. if bought at the right time, location is of no need"
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We are heading into the third quarter of the year which is seasonally the best time for real estate transactions.
We might have a few people that believe the bottom is over but we'll have to wait probably until November or even longer to truly determine if we had hit THE bottom or if it was a false one.
Mark K.
Life Disclaimer: Past Failures are NOT indicative of Future Results.
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for a great post.
How do we know when the bottom is?
I don't think anyone knows really... to me it's a bit like the stock market; you want to buy when it's low, and sell when it's high, but people who try to wait for the absolute lowest or highest can miss out on a great opportunity, or even worse, lose a lot of money.
I think it's best to do your due dilligence with each and every one of your deals, and make a profit. Forget about wondering if we've reached the bottom.
Wishing everyone success,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
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