questionable buying philosophy

This afternoon was a good time to nibble on some Altria, Johnson and Johnson, Bank of America, General Mills, Procter and Gamble and a lot of other great blue chips. These companies don't "cook the books" or have crooked CEO's. I suspect you will have ample opportunity to pick up some stellar buys in the next two weeks but don't procrastinate. You get 3 or 4 good opportunities a year to buy stocks......this is the first opportunity !! This was a long overdue correction and the China and Greenspan news was just the excuse. Fundamentals are still good and the sub prime mess will be contained. No one knows when the correction will be finished running its course but if you are a long term investor now is the time to start nibbling. The momentum guys get killled on these sell offs because they happen so quickly and ferociously they are like deer in the headlights and they are stuck holding stock they bought "at the highs".

Ok goofer, I am going to take your advice on this one...going to throw coins on them all. :roll:

As for waiting for FL RE to start heating up...you'll be glad you bought a chair.

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Yea, its one of those new vibrating beach chairs...I am enjoying it probably to much :rolling:

Sorry about that seacliffes....you stock junkies have more guts than I have! Hey they are calling it just a mistake, maybe I will buy some yahoo stock tommrow?:blush: But not before consulting goofer:roll:

The S&P closed down @ 3.47%...I think the RE guys call this correction a 'soft landing.'

😀

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There is not a person on the planet, including the Pope, Ben Bernanke, Alan Greenspan, or the great commodity trader Hillary Clinton who knows what the stock market will do. You have to look at what intrinsic values are relative to price. There are many metrics to calculate value. After todays action I think there are many stocks that are good values based on PE's, dividends, and future growth prospects. The stock market could be up 1000 points tomorrow or in the weeks ahead ....no one knows. Certainly no one told you yesterday that the mkt at one point today would have been down more than 500 points!! My point is, this money is for the benefit of young children with more than a 10 year time horizon. Don't try to time the market....that is an impossibility and a mistake. If you feel you must cherry pick, then put half the money to work now and time the rest.

Good advice ... worth saying twice. :rofl: Thanks Goofer, you are right of course. :roll:

How long as this agent been in the business?

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9 years

9 years

If he was in the biz for 9 years and is currently having his best month ever.... was he in a coma during the the great 2004-5 RE grab?

Fair enough..since you're reporting from the street:

List the properties that you've closed in January/Feb and give some solid examples of what you would say are "priced to sell."


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Shelly,
In the pass 7 days 47 properties have gone under contract. If you give me your direct email I will send you a link of 47 properties (SoWAl) that were "priced to sell".

January for me was not a great month for the books but I started seeing an increase in calls and property showings. I also noticed my website hits almost doubled www.lifeonshore.com . I still managed to close on a home in Defuniak and a condo in Seacrest.

February we have really picked up. Remember our closings are typically 30 to 90 days out. In February, I closed on a home in Dune Allen and have contracts on a lot in Cassine Village, Point Washington, 5 acres in Freeport, and just got a contract on another home in Point Washington. I am also awaiting an offer on a home in Carillon.
I have grown up in this area and have watched people over the years try to analyze our market based on what they see in other areas or what their "indicators" show. Even when we were in the pit of this market we were selling. Many folks were acting like it was over. While we are all trying to figure it out, the "leaders" of the pack are buying. They are still seeing what we saw 2 years ago but at better prices. I mean no disrespect to you by saying I feel you are off about "this" market. I can tell you are a very wise person and have a great deal of experience in investing but trying to figure out SOWAL based on what the rest of the country is doing is a big mistake. This market (SOWAL) dances to the beat of its own drum.

If he was in the biz for 9 years and is currently having his best month ever.... was he in a coma during the the great 2004-5 RE grab?

Nope

I've been expecting the economy to start cleansing itself sooner or later.

No worries....just illustrates the point that diversification is the way to go. No one should be "all in" whether it comes to dot-coms or dot-condos.

As for waiting for FL RE to start heating up...you'll be glad you bought a chair.

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O my gosh..You were expecting the market to tank. In just one day?? How do you do it??? :floor: :floor: :doh:

O my gosh..You were expecting the market to tank. In just one day?? How do you do it??? :floor: :floor: :doh:

How the heck do you go from "I've been expecting the economy to start cleansing itself" to "You were expecting the market to tank"?

:roll:

How the heck do you go from "I've been expecting the economy to start cleansing itself" to "You were expecting the market to tank"?

:roll:

400 plus drop to me is tanking. But to others it might be just a cleansing. :blink:

400 plus drop to me is tanking. But to others it might be just a cleansing. :blink:

By cleansing I mean flushing out speculators and putting at least some of the "risk" back into the markets (equity, bonds, commodities, real estate, derivatives, FOREX, CMO, MBS etc.).

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I mean no disrespect to you by saying I feel you are off about "this" market. I can tell you are a very wise person and have a great deal of experience in investing but trying to figure out SOWAL based on what the rest of the country is doing is a big mistake. This market (SOWAL) dances to the beat of its own drum.

Fair enough...time will tell. (Congrats on your sales.)

But I'm sticking to my guns that the major reason for the run-up of the FLA real estate market (including SoWal) was a toxic mix of speculation, cheap money, and greed.

As a result, "this" market going forward won't be anything (in neither scope nor volume) like "that" market.

Moreover, for SoWal to underestimate the current housing "unaffordability" crisis, being felt especially by its vital service-labor pool, will be to its detriment.

400 plus drop to me is tanking. :blink:

And what term would you use for walking away from a $30,000 deposit on a pre-construction condo?


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