Georgia Real Estate Investments - RealtorNick

Hey Nick, was read a blog just a month or so ago from Ryan Ward that said the housing market is up up up.

Hi Rob,  CNN had the bad news on this morning and highlighted new subdivisions in disrepair, looked like the developers just packed up.  100 miles south of Atlanta here in Columbus Ga things are looking pretty good.  Money from the UAE is still pouring into the state, not as much as last year.  I have not read Ryan's post.  I hope business is good in your neck of the woods.

Instead of "The News", it should be called "The Olds".  The damage to these developers, their lenders, and investors happened a long time ago.  It is just that the shine has been replaced by weeds and CNN gets to fill some more time with the misery factor.

News entities have always been behind the curve and what they report is the past, not the present.  They also take negatives and positives, feed it into the news cycle and make things over correct in one direction or another. Thus, the same entity named above is complicent in creating the grand real estate bull market overhype where no one could make a mistake and instigating the resulting train wreck.

Yes, there was extreme over development, yes there are practically empty subdivisions with homes falling into disrepair, yes these are some of the foreclosures and problem loans of over optimistic builders that go hand in hand with the over optimistic buyers that pushed real property values to severe extreme highs driven on by poor lending standards and a cheap money monetary policy from the Fed. All of these events created the perfect storm for the misery we see today among friends, family, peers, and acquaintances.  Thanks, lenders, politicians, regulators, developers, and get rich quick types!

Yet, if one is a buyer, now is a good time to be looking for values.

I have always made it a policy not to have a "crystal ball".  But for years I have watched for the Bull on the cover of Time magazine to know that it was time to sell.  Likewise, when the Bear shows up on the cover, one can feel fairly comfortable seeking out value to buy.  We saw this with real estate and many should have known better than to buy into the hype.  The contrarian in me is always awakened by the mainstream media and whatever they are trying to propagate to sell advertising and fill a 24 hour a day seven day a week news cycle.

Anybody looking for some Gulf Shores Real Estate values?  The hyper optimism here has been replaced by hyper pessimism meaning the market is ripe with values! 

P.S. Everybody rush out to the book store and get a copy of Thomas Sowell's Basic Economics.  There is nothing new in the world, including this real estate scenario.  If our politicians, beureaucrats, lenders, teachers, and citizenry would read this book, maybe we wouldn't keep making the same mistakes over and over through the centuries.