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Date: Oct. 2, 2007
Tags: None
I usually don't repost what KW sends us in our E-mail, but I thought this was a great Story! I looked but could not find
the video for the today show.
Last week on the Today Show, during a segment on the national real estate market, CNBC's Jim Kramer
uncompromisingly stated, "now is the absolute worst time to buy!"
Concerned that remarks such as these from so-called experts might be pushing potential buyers to the sidelines?
Here's what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current
market:
First, residential real estate is not a national market product - it is a local one. To say from a national
position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the
U.S. today is 92 degrees - it is a useless and irrelevant perspective. What is happening in your local market is all
that matters.
Second, trying to predict when it is a good time to buy, or not, means you're trying to time the market. Staying
on the sidelines is the surest way for most people to never time anything correctly.
Last, and maybe most important - there are always two markets in every market. There is the market of properties
that are good buys and there is the market of properties that are not a good buys. Interestingly enough, this is true
in either buyer or seller markets. To categorically say that this is the time to buy or not is absolutely
ignoring the fact that every market really has two markets inside it.
Can someone tell me why Gary isn't brought on to combat these kind of false claims!
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