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Article in Barrons

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SHELLY said:
...just wait until we're hip-deep in this recession--nail salons and specialty coffee shops will qualify for the endangered species list.
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If salons, med spas, plastic surgery centers and weight loss centers start to suffer in my neck of the woods ... then I will know that we are really in trouble. :lol: But! They are still opening, at least for now!

One local salon signed a hefty lease a year ago, and has been losing top stylists one by one. That guy way overshot and may end up being the canary in the coal mine. So far, he's still in business though. :idontno:
 
TooFarTampa said:
If salons, med spas, plastic surgery centers and weight loss centers start to suffer in my neck of the woods ... then I will know that we are really in trouble. :lol: But! They are still opening, at least for now!

One local salon signed a hefty lease a year ago, and has been losing top stylists one by one. That guy way overshot and may end up being the canary in the coal mine. So far, he's still in business though. :idontno:
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Noone was into having hair and nails done more than Realtors...nuff said.


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SHELLY said:
I've read more than a few articles about how the "housing crisis" in playing out in locations throughout of the USA and almost always they say, "Yeah, housing sales may suck here in Anytown, USA, but at least they don't blow like they do in Florida."

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You are right Shelly they almost always say "that" but as Erma said years ago, the grass is always greener over the septic tank... Michigan, for example, would trade with FL in a heart beat I think.
 
waterst1 said:
You are right Shelly they almost always say "that" but as Erma said years ago, the grass is always greener over the septic tank... Michigan, for example, would trade with FL in a heart beat I think.
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Here's a come-on for Michigan RE last year:

Q. Why is it a good time to buy in West Michigan?

? Mortgage rates are near historic lows
? Home prices are the lowest in several years
? More homes to choose from then ever before
? West Michigan is a great place to live and invest in real estate

All these factors, and more, indicate now is a good time to buy in West Michigan.

Q. Will the recent "boom" cycle cause any lingering concerns among potential buyers hoping to "time" the market turn and wait for the low point to be reached?

A. The 2003-2005 real estate cycle was so short and intense, many buyers have taken a "wait and see" attitude in 2006. But now, in 2007, with the return to normalcy, buyers should recognize there could be a missed opportunity if they don't act now. Trying to "time" a real estate market is a difficult task of prognostication, and one at which few people succeed. But becoming educated on the long term realities of the overall market, and the West Michigan market in particular, should alleviate most concerns.

West Michigan is a popular location for both retirees and younger families, for many reasons. We offer an unsurpassed coastal environment, rich cultural heritage and amenities, numerous recreational offerings (golf, boating, biking, fishing, etc.), great shopping, a strong business community, a tremendous educational system, and much, much more. The local real estate community is sold on West Michigan. We have invested our dollars in local real estate. We believe in our community, and want to share it with others. The incredible variety of quality homes and condominiums available in the current market gives potential buyers the perfect opportunity to grab their dream home now.

http://www.time2buyhomes.com/faq.html
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:blink: Does the NAR provide a "fill-in-the-blanks" ad for their Realtors?--seems like I've read this all before, only the location has been changed (Phoenix, Las Vegas, Myrtle Beach, Florida, etc.).

So, was 2007 a "missed opportunity" for buyers in Michigan?

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West Michigan is the part of the state that looks like it's actually got something of a future- lots of new technology, education and health research projects going on. And I'd trade summers on Lake Michigan for summers in North Florida any time- wide sandy beaches and a more pleasant weather set-up. (It's just the seven months of annual slush and wet stockings that's a deal-breaker for us. )

It's also the place where the local homebuilder's association has their headquarters for sale because they overbuilt in 2004, and are now looking at a significant decrease in membership rolls (and dues)
 
beachmouse said:
West Michigan is the part of the state that looks like it's actually got something of a future- lots of new technology, education and health research projects going on. And I'd trade summers on Lake Michigan for summers in North Florida any time- wide sandy beaches and a more pleasant weather set-up. (It's just the seven months of annual slush and wet stockings that's a deal-breaker for us. )

It's also the place where the local homebuilder's association has their headquarters for sale because they overbuilt in 2004, and are now looking at a significant decrease in membership rolls (and dues)
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So...in other words, now is a great time to buy?


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Along those same lines, I came across this article from January 2006 while googling the other day.

http://www.legendaryinc.com/Outlook%2006%20Release%201.24.06.pdf

I especially like the quote from real estate "expert" Barbara Corcoran, who is a regular "consultant" on the Today Show.

The morning concluded with real estate expert, television personality and accomplished author, Barbara Corcoran. Barbara, who is seen regularly on The View, Good Morning America and Fox News, shared her insights as to the fundamental growth of the real estate market based on the principles of the current economy, demographic trends and America?s love affair with real estate. Barbara spoke to the real estate bubble and referred to it as fictitious, stating that ?you?re the one person that can control your own market.?
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Go back and read what some of the so-called experts have predicted. When you find the one who hit the nail on the head, please let us know, so we know who to give credence to next time around.
 
MissCritter said:
Go back and read what some of the so-called experts have predicted. When you find the one who hit the nail on the head, please let us know, so we know who to give credence to next time around.
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I can think of two:

1) Shawn Tully, Fortune editor
2) SHELLY :wave:
 
Shelly, I'm calling the Today Show to get you a gig. Don't worry, my commission will be very reasonable. :cool:
 
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