Having lived through a market where houses in my area of Florida lost as much as 40% to 50% of their peak value after everyone had been enjoying huge price increases on a continual daily basis.
In 2007 and 2008 and early 2009 full price offers were being made and sellers were turning down those offers because they knew someone would come along soon and offer them more.
Then came the fateful day when the bottom of the real estate market dropped out and property values plummeted. Many investors who bought houses at the peak of the market when values were high experienced financial devastation.
So, what’s the answer to not getting caught up in a situation like we experienced in 2009? Listen to Today’s podcast.