It'll get WORSE before it gets better!

[Frank Adams]

Granted this is just my opinion, but it is based on 28 years of experience (including the '80s collapse of the TX market) and some careful looking.

I've noticed more For Sale signs in Austin and San Antonio lately, including too many on NEWER houses in NEWER neighborhoods. While I can't guarantee that many of those are owned by "out of towners", I can sure make an informed guess.

I recently spent a week in Oregon and every town we drove through and/or spent 1/2 day in looking at property had a s**tload too many For Sale (by owner and Realtor) signs out on the main roads. We spent a fair amount of time in 4 golf course communities in 3 widely separated cities.

What we saw upwards of 10% of the houses on the market, including FSBO and Realtors offering full page adds, on "neighborhood open houses" with snacks and beverages at each one. I don't know what the "average" number of houses on the market is, but 10% plus sounds high to me.

BTW, in 2 of these I've been watching the market for over 90 days and I don't see many of them selling. One place that we looked at had dropped from the low $300Ks to the high $200Ks. Naturally the Realtor told me if I was real interested I have to "act now" as it won't last at this price. Which is what the "ad" on Realtor dot com has said as long as I've been looking!

The one person that I see making good money right now is the sign painters who make the "PRICE REDUCED" and "NEW PRICE" signs that are stuck on just about every Realtor's signs that we saw.

I think I'll sit on my money until the first of the year or so!

all cash