Buy on the rumor, sell on the news….

Picture of shyster

 

In one of my latest blog posts I questioned whether we are in another housing bubble here in the Phoenix/Anthem area.  And I made an argument as to why I don’t think we are.  And I still believe that.  However, something that does concern me is what I heard on the radio the other day.  An advertisement for a “FREE” seminar on how to fix and flip properties for profit IN YOUR SPARE TIME!  Boy, I haven’t heard one of these type of commercials in about 7 or 8 years.  So it raised a red flag in my mind.

I’m not a doomsayer, but when I see the sharks coming back into the market I tend to be cautious.  As I mentioned, I haven’t heard of one these type of seminars coming around in a long time.  Usually these types of seminars are run by shysters looking to make money by selling books, CD’s, and their surefire  “system” that never works.  It also signals that maybe things are getting a little overheated.  Not to say that we’re headed for an imminent crash or anything, but if I were a home owner on the fence about selling my home right now, I would seriously consider selling my home right now.  Sure, you may not sell at the absolute peak of the market, and may leave a few thousand dollars on the table, but think back to the end of 2006 and how many home sellers had the same attitude.  Then recollect what happened right after.

Again, I’m not predicting that we’re going to have a market crash again, the fundamentals are not the same, but as the old Wall St. adage goes, buy on the rumor, sell on the news.

If you’d like a free market analysis of your Anthem home please call me at 602-334-3757 or e-mail me: jwmurphy@longrealty.com

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