Replies to post #28817 on SPDR S&P 500 (SPY)

[GLENO34]

I think you might do better price wise sometime after the first of the year..But FOOt is the realestate guy..Things have not slowed much here..And in Seattle you have Boeing going full bore..Probably a lot will depend on the national economy and gas prices..??

[RCKS]

learning
Every market has its unigueness and the pain for everyone is still well in front of us however, IMO
Where I live (the bay area, SF area) the home I live in is in a neighborhood where prices remain strong and in some cases sellers receive multiple offers.
But I am presently waiting to see if my counter offer ( I am the seller) will be accepted or countered on a investment property where prices are 30-40% off the highs.
It sits in a community that has a lot of arms to reset and where many recent buyers wouldn't qualify now for loans. The average income is close to 50,000 in this community as opposed to where I live where the income avg. is well above 100,000.
My point is some markets have no idea where the bottom is and what is fair value and IMO, those poor markets will eventually have an impact on prices in the better markets.
I would not be anxious to buy anywhere at this time, I think some markets will not bottom until all the arm loans are gone and all the fallout on prices from short sales are well in the rear view mirror.