Comments on: A Downturn Is The Best Time To Buy Up!! http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/ Wed, 08 Feb 2012 11:03:04 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Richard Silver http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/comment-page-1/#comment-991 Richard Silver Fri, 09 Jan 2009 19:43:53 +0000 http://blog.richardsilver.com/?p=970#comment-991 Thanks for your comments Jimmy, Remember that the Post says it is the "Best Time to Buy Up". That assumes that someone already has a house and must sell it in a down market and buy in the same market. You can sell in total control if you sell first in a slower market and then buy after you have sold. Usually the split between the two prices is smaller in a Down Market. In an up market, most people are forced to make quick and not always the best decisions. It may seem crazy to most but I prefer this market because when clients make quick or wrong decisions, the Realtor gets blamed. Thanks for your comments Jimmy,

Remember that the Post says it is the “Best Time to Buy Up”. That assumes that someone already has a house and must sell it in a down market and buy in the same market. You can sell in total control if you sell first in a slower market and then buy after you have sold. Usually the split between the two prices is smaller in a Down Market. In an up market, most people are forced to make quick and not always the best decisions.

It may seem crazy to most but I prefer this market because when clients make quick or wrong decisions, the Realtor gets blamed.

]]> By: Jimmy Ray http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/comment-page-1/#comment-988 Jimmy Ray Fri, 09 Jan 2009 18:56:02 +0000 http://blog.richardsilver.com/?p=970#comment-988 Richard, I agree with what you are saying... downturn is the best time to buy... but what you are doing by posting such posts at this time is... you are luring more people to make wrong decision of buying at this time. We all know prices are going down this year. First time buyers - will save a lot more if they wait until year end. Homeowners - who you want to sell and buy a new bigger place and make a profit of $50K according to your logic. Those people, if they wait a year, can save $50 more according to the same logic. I know real estate agents have been hit hard by slowdown, but please, you guys have a made a lot of money in boom as well. By posting such blogs, you are just loosing your credibility. Richard, I agree with what you are saying… downturn is the best time to buy… but what you are doing by posting such posts at this time is… you are luring more people to make wrong decision of buying at this time.

We all know prices are going down this year.

First time buyers – will save a lot more if they wait until year end.

Homeowners – who you want to sell and buy a new bigger place and make a profit of $50K according to your logic. Those people, if they wait a year, can save $50 more according to the same logic.

I know real estate agents have been hit hard by slowdown, but please, you guys have a made a lot of money in boom as well. By posting such blogs, you are just loosing your credibility.

]]> By: Taxmetwice http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/comment-page-1/#comment-954 Taxmetwice Thu, 08 Jan 2009 17:21:10 +0000 http://blog.richardsilver.com/?p=970#comment-954 If people would realize that "changing" homes only benefits you, all the real estate agents .... Do you really care about the ignorant that bought in the first place ? The seller-buyer have 50K difference, only by changing house, but... where is all the payments and fees? Nobody want to know about it. Oh well, as long as you have your commission, everything is just fine. Congrats. If people would realize that “changing” homes only benefits you, all the real estate agents …. Do you really care about the ignorant that bought in the first place ?
The seller-buyer have 50K difference, only by changing house, but… where is all the payments and fees? Nobody want to know about it. Oh well, as long as you have your commission, everything is just fine.
Congrats.

]]> By: Richard Silver http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/comment-page-1/#comment-951 Richard Silver Thu, 08 Jan 2009 14:25:20 +0000 http://blog.richardsilver.com/?p=970#comment-951 Not everyone buys houses to benefit financially. Some need larger house or different configurations for their Family or to change School Districts. Yes there is always a good time to buy the right house. Delaying until you can take advantage of the market is not the way to buy a "HOME". Not everyone buys houses to benefit financially. Some need larger house or different configurations for their Family or to change School Districts. Yes there is always a good time to buy the right house. Delaying until you can take advantage of the market is not the way to buy a “HOME”.

]]> By: Toronto Bear http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/comment-page-1/#comment-948 Toronto Bear Thu, 08 Jan 2009 13:03:58 +0000 http://blog.richardsilver.com/?p=970#comment-948 Sorry, Anyone buying in the next year is a tool. Prices are going to fall a lot further and that money you "saved" by buying up is going to evaporate in front of your face. The massive rise in unemployment will lead to decreased buying power for consumers, not to mention that it will spur foreclosures which in turn puts further downward pressure on prices. Then again, should it surprise us that people who make their livings based on commission are encouraging people to buy at all costs? Previously all the RE people told us it was a great time to buy b/c prices were going to rise forever....now it's a great time to buy b/c prices are going down? For you people, is there ever NOT a good time to buy? Sorry,
Anyone buying in the next year is a tool. Prices are going to fall a lot further and that money you “saved” by buying up is going to evaporate in front of your face.
The massive rise in unemployment will lead to decreased buying power for consumers, not to mention that it will spur foreclosures which in turn puts further downward pressure on prices.
Then again, should it surprise us that people who make their livings based on commission are encouraging people to buy at all costs? Previously all the RE people told us it was a great time to buy b/c prices were going to rise forever….now it’s a great time to buy b/c prices are going down? For you people, is there ever NOT a good time to buy?

]]> By: Richard Silver http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/comment-page-1/#comment-923 Richard Silver Wed, 07 Jan 2009 21:47:17 +0000 http://blog.richardsilver.com/?p=970#comment-923 So great to hear from you both!! Yes, it is still my hair but the painting in the attic is now BALD...Oh well!! Next time I am in Vancouver I will come and haunt you!! Hear you actually are having winter out there!! Keep in touch and drop in when you are back East! So great to hear from you both!! Yes, it is still my hair but the painting in the attic is now BALD…Oh well!! Next time I am in Vancouver I will come and haunt you!! Hear you actually are having winter out there!! Keep in touch and drop in when you are back East!

]]> By: Uncle Max http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/comment-page-1/#comment-922 Uncle Max Wed, 07 Jan 2009 21:40:16 +0000 http://blog.richardsilver.com/?p=970#comment-922 Dear Mr. Silver, ...Lynne and I have been admirers of your real estate expertise for nearly twenty years. Thanks to you we have become $bazillionaires$ from purchasing homes in downtown Toronto and North Vancouver. Do you still have a great head of hair?...mine got lost Have I mentioned you were a great guy? ...Can I borrow a couple of bucks...like maybe $300 or $400?...I'll pay you back faster than you can say Pearse Murray. namaste Uncle Max Dear Mr. Silver,

…Lynne and I have been admirers of your real estate expertise for nearly twenty years.

Thanks to you we have become $bazillionaires$ from purchasing homes in downtown Toronto and North Vancouver.

Do you still have a great head of hair?…mine got lost

Have I mentioned you were a great guy?

…Can I borrow a couple of bucks…like maybe $300 or $400?…I’ll pay you back faster than you can say Pearse Murray.

namaste

Uncle Max

]]> By: Richard Silver http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/comment-page-1/#comment-920 Richard Silver Wed, 07 Jan 2009 21:30:36 +0000 http://blog.richardsilver.com/?p=970#comment-920 The big question is that all that time, you also got to live in your house whereas your stock portfolio may not have done as well, nor could you use it to provide shelter. The big question is that all that time, you also got to live in your house whereas your stock portfolio may not have done as well, nor could you use it to provide shelter.

]]> By: Dave http://torontoism.com/2008/12/30/a-downturn-is-the-best-time-to-buy-up/comment-page-1/#comment-912 Dave Wed, 07 Jan 2009 15:12:20 +0000 http://blog.richardsilver.com/?p=970#comment-912 Up 6.5% per year over the past 25 years??? Sure, if you start from the end of the downturn in 1983 and stop at the peak of 2008. Perhaps you might want to look at trough-to-trough or peak-to-peak #'s? Or how about looking at the past 18 years, from 1990 to 2008. Otherwise known as a negative annual average rate of return. Up 6.5% per year over the past 25 years???

Sure, if you start from the end of the downturn in 1983 and stop at the peak of 2008.

Perhaps you might want to look at trough-to-trough or peak-to-peak #’s?

Or how about looking at the past 18 years, from 1990 to 2008. Otherwise known as a negative annual average rate of return.

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