Cossayuna Lake Topics: Gamblers market?

Cossayuna Lake Topics

(Cossayuna Lake Specific)

0 messages

Updated

Off-Topic

Lakes Online Forum

83,594 messages

Updated 4/20/2024 12:08:27 PM

Boat Maintenance

Lakes Online Forum

5,193 messages

Updated 4/3/2024 3:47:36 AM

Cossayuna Lake Fishing

(Cossayuna Lake Specific)

0 messages

Updated

Jokes

Lakes Online Forum

4,169 messages

Updated 4/15/2024 11:05:05 PM

Sports

Lakes Online Forum

4,260 messages

Updated 3/24/2024 9:24:45 AM

Grilling & Recipes

Lakes Online Forum

2,976 messages

Updated 3/20/2024 11:53:43 PM

Tallapoosa River Topics

Lakes Online Forum

98 messages

Updated 4/15/2024 1:00:58 AM

Forum Usage Rules

Welcome, Guest

Select View Mode: [ classic | beta | recent ]

	Name:	John C -
	Subject:	Gamblers market?
	Date:	11/14/2007 9:10:25 PM

"gamblers market" - I think that is hyperbole.

I agree that values have not increased from Aug 06 to Aug 07. But LM waterfront properties averaged 30% PER YEAR from 2000 to 2006. So, averaged out, still an excellent investment.

The last buyer's market was 1999 into 2000, when there was little if any increase. It's not unprecedented. It's just life. Back then the tech stock bubble burst and hurt a lot of people's "free money" - and rates were at 9.5%.

I don't think we'll see those 50% price reductions that are all over the news in other places like Florida. That comes from entire developments that are owned by one builder. There aren't really any places like that on the lake. While there are many spec homes for sale, most are still by private citizens, who aren't under as much pressure to sell.

I do think sellers need to lower their prices, though.

By the way, I recently read in the WSJ where Warren Buffet is buying CDOs now. Collateralized Debt Obligations are bonds backed by home mortgages - one financial instrument that many say fueled the subprime lending panic. Anyway, Buffet is a buyer - apparently thinking that they are valued too low due to investors fear and media hype.

What does that tell you?