Nothing like today’s considerable drop in the market to remind everyone that the economy remains on shaky ground. I stand by my past prediction that the market will not improve dramatically for another 12 months.
This turmoil does two things. It makes sellers more fearful that the bottom could fall out again and it may be time to hitch their wagon to another team of horses. It also adds fear to buyers who aren’t convinced they want to plunk down a bunch of dough when the market may not make it rise and bake into something meaningful.
So I contend we continue to have parity among buyers and sellers, but I also contend for those with strong stomachs and solid strategic plans, this could turn out to be a great time to be a bold buyer. Remember the adage “buy low, sell high.” The market is low for many buyers. So do you really believe the saying or it just sounds nice for other people?