I get questions all the time about the current state of the market and what is going to happen in the future. Just for the record, I can assure you that I am not the only person in the world that has noticed we have never seen a headline in any paper that reads psychic wins lottery. That's mainly because no one can predict the future or what lies ahead for any of us. This market has presented many challenges that many people have never faced. It will simply take time for everything to come around, level off, and get back to "normal."
However, one thing that I have been suggesting lately to all those that ask me questions about the market, is to run out and buy a magic eight ball. It's guess would be just as good as mine on many of the answers that the general public would like to have. Or that we in the industry would like to have as well for that matter. The truth is that no matter how in the loop we are, it's still a guess.
Now all the various economic stimulus programs are the latest set of confusions running through the industry. The fact of the matter is that none of us know exactly what Congress is going to do either, and it's not like we ever have. But, there was a good deal of excitement created in my clients at the thought of possibly cashing in on the $7,500 tax credit and this one I understood and could explain. Now, with all the new proposed stimulus packages, such as extending the tax credit and raising the amount available, and including more than first time home buyers, people have a ton more questions. Again, I have to offer them my magic eight ball. I have no idea what they are finally going to pass and what they are not going to pass. Everything for now is just a rumor.
So, I will continue to watch the market closely, like everyone else. I will hope for the best and prepare for the worst and see where it all ands up. As for time frames on any of the questions that are asked of me, who really knows how long any of this will take. I usually give the same answer all the time. When people ask, "so when is the market going to completely turn around?" I always say it will do so in the Spring, I just don't know what year.
______________________________________________________________________________________________________
JL Boney, III - Columbia, SC Realtor - Coldwell Banker Residential Real Estate
I specialize in Columbia, SC real estate and the surrounding areas, including Blythewood, SC, Kershaw County, Fairfield County, and Lexington, SC. If you are in the market to buy or sell a home in Columbia, SC or any of the surrounding areas, I would love the opportunity to speak with to see how I can help. Thanks for reading and feel free to contact me if I can be of service to you.
Office- 803-788-1450 Cell- 803-730-9601 Email- James_Boney@Yahoo.com
My Columbia SC Real Estate Website
My Columbia, SC Real Estate Blog
www.jlboney.com/columbiascrealestateblog.html
www.activerain.com/blogs/jlboney/rss
Subscribe to JL Boney's Columbia SC Real Estate Blog by Email
I like your comment regarding the fact that a physic hasn't ever one the lottery....shouldn't that tell everyone something.
I always figured that the Federal Reserve figured their rates with a dart and a dart board.....your method probably works just as well......
JL,
I completely agree about the tax credit. Our company had some really great marketing pieces that we could send out or add to our buyer packets that broke the $7500 credit down nicely. I mailed out all of my HUDs to my 2008 closed clients the beginning of Jan, adding info about remembering to talk to their acct about the tax credit if first time buyers. Wouldn't it go to figure that about 2 wks later, things are in the air! All I can tell them when they email or call with questions is to talk to an accountant because things are still up in the air. I usually use a crystal ball to look into the future, but maybe I will have to try out the 8 ball!
Kathy- You would think so.
Julie- We have a 50/50 shot of either of us being right.
Jen- I gave up on the crystal ball months ago, it just wasn't that reliable for me. The eight ball has really came through in the clutch though.
LOL, JL ~ I knew somebody had all the answers. Little did I realize it was you, and instead of Google Juice, you've stolen all the 8 Ball Juice! LOL If you still have the crystal ball, just drill 3 holes in it and go bowling! :)
Randy- The eight ball juice comes in much more handy in my opinion. Good suggestion on the crystal ball, I do like to bowl once and a while.
JL - While the Eight Ball might work for some, perhaps a crystal ball would work better. I know when I have asked fellow real estate professionals what they think the market will do, they often reply, "None of us has a crystal ball." Well, perhaps we need to get one:-)
Myrl- That's just it, no one has that crystal ball, but you can get a magic eight ball. So which one is better now?
JL - You and I are in the same boat. Will you start rowing, dangit.? I am watching and waiting. My clients are waiting for me to explain it all to them. But, they all want to buy NOW. Not bad for me, but I need to make them aware that a good deal of this will shake out only in the next month or so. Everyone wants everything now. LOL....nothing changes, yet everything stays the same. Hmmm
Suzanne- I know just how you feel, I assure you. One day we will all be able to look back and remember these days, but that day isn't today.
Jl...
There you go ...you are so right ... attempts to predict the future are just like shaking that magic eight ball, except that I think that you have a better chance with the eight ball tan in trying to figure congress out!
Richard- I don't even think the eight ball will help with Congress my friend.
JL, thanks for the suggestion of the 8 ball. I went to buy one and came home and ask it all kinds of questions. Great answers. Now I don't has to wonder no more about certain economic events.
~ Life is Good
Between the Magic 8 ball and the St. Anthony's statues (buried upside down!) I am ready for 2009!
A ouija board is easier to carry around but I do like the basic black of the 8 ball (goes with everything). .
Thanks for stopping by and reading about granddad. I am traveling up there today and coming back late.
Put that magic 8 ball to use for me.
JL - You are onto something here! Fun post!
JL,
I wish my crystal ball was better than you magic 8 ball but alas it's not.
Roy- It can be a life saver.
Lise- Sounds like you have all the bases covered.
Alyce- You have to learn to properly accessorize. The ouija board just screams needy in social situations.
Laura- Have a safe trip, hope all goes well.
Kim- I may be you know.
Don- No, the crystal has let us down.
It is suprising how people think that we still run the market, and think that we will know exactly what will happen tomorrow.
Bill- I wish they were right, things would be much easier if that was true.
JL, I like your idea of the Magic 8 Ball! You are right, it will be right at least as often as the "experts". I have been watching hte market with my eyes closed the way I watch Max's game when we have 52 seconds left and we are only up 2 points. Usually eyes closed, my back to the action. I can't stand the suspense.
Susan- I can understand what you're going through, but I must say, I love suspense.
I always tell people that if I had the crystal ball with all the answers that I'd be traveling. I guess the next addition to my office needs to be the magic 8 ball....I'll just hand it to them instead. :)
Mandi- I think the eight ball is a must for every office.