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Tuesday, November 9, 2010

A Realtor's Take on Recessions & Booms

"So, How's the Market?"

"A recession is when your neighbor loses their job. A Depression is when you lose yours."

--uttered by Presidents Truman and Reagan (and many others)

Little remarked -- but equally true -- is the converse: a "bounce," at least in the real estate business, is when you are busy; a "boom" is when you're swamped.

That's regardless of what's otherwise happening in your office, the overall market, various parts of town, etc.

After a torrid May-Sept, and a quiet(er) October, I am personally very busy heading into Thanksgiving and the year-end.

The principal caveat: Buyers now are expecting -- and getting -- deals.

P.S.: A colleague characterized this market as one in which "Buyers are getting the last word."

I'd go even further: Buyers in today's market are getting the last sentence -- or paragraph.

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