{"id":2626,"date":"2008-02-20T07:52:46","date_gmt":"2008-02-20T14:52:46","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2626"},"modified":"2008-02-20T07:52:47","modified_gmt":"2008-02-20T14:52:47","slug":"is-there-actually-a-sky-up-there-anymore","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2626\/is-there-actually-a-sky-up-there-anymore\/","title":{"rendered":"Is There Actually A Sky Up There Anymore?"},"content":{"rendered":"

I listen to misery and woe almost daily. There are plenty of Chicken Littles out there reporting that the sky is falling. And it is! There’s no doubt that the real estate market is in the tank in many places in the country. It certainly is in my neck of the woods. The question needs to be not, “Why is the sky falling?” or “Is the sky actually going to touch the ground?” or even “Is there a sky any more?” but “What do I do with this new reality?”<\/p>\n

In my market, equity is a very rare thing. The area that I service primarily is a relatively new area of metro-Phoenix. So new, in fact, that there are very few people who have any equity left. Unfortunately, many of them are throwing up their collective hands, and thinking something like this:<\/p>\n

“My house in not worth anywhere near what I paid for it. It will not be worth what I paid for it for a very long time.\u00a0 There are tremendous houses out there that are much better, much bigger, and more upgraded than mine, that are offered for sale for way, way less than I owe on my house.\u00a0 Let’s see. . .I’m paying $2500 per month on my mortgage. The market is glutted with rental properties that are better than mine, and I can rent them for about $1,000 per month. Think of the money I’ll save! It makes financial sense for me to kick my house to the curb, go rent a better one for half-price, let the market continue to go into the tank, then buy a better one a few years down the road. What will I lose? My credit? Credit comes back. My mortgage interest deduction? Pah. . .a measly sum compaired to what I’ll save each month on payments. Sounds like a plan to me. . .”<\/em><\/p>\n

An unethical plan?\u00a0Sure, but one that is ultimately appealing. Who said unethical was synonymous with unappealing? This is just the people who are manufacturing a crisis to get out of an unfavorable position. There are plenty\u00a0who are facing\u00a0a real Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I listen to misery and woe almost daily. There are plenty of Chicken Littles out there reporting that the sky is falling. And it is! There’s no doubt that the real estate market is in the tank in many places in the country. It certainly is in my neck of the woods. The question needs […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,10,28],"tags":[],"class_list":{"0":"post-2626","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-realty-reality","8":"category-retirement","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":100,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/100\/the-sky-is-always-falling-except-when-it-isnt\/","url_meta":{"origin":2626,"position":0},"title":"The sky is always falling — except when it isn’t…","author":"Greg Swann","date":"July 18, 2006","format":false,"excerpt":"Foreclosures are up in Arizona for the first six months of 2006, as compared with the last six months of 2005. The will be cause for sustained gloating at the Arizona Republic, so here is the real news, from the Business Journal of Phoenix, before it goes through the Spin\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/15\/rising-rents-keep-sky-from-falling\/","url_meta":{"origin":2626,"position":1},"title":"Rising rents keep sky from falling?","author":"Odysseus","date":"November 20, 2005","format":false,"excerpt":"In the midst of the appreciation boom in Phoenix, one of the regular Chicken Little complaints was that investors would cause a glut of rental housing, which would then sit vacant until they sold the homes in desperation. This is the static-market fallacy: This change will cause a problem, after\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/39\/why-the-sky-doesnt-fall-despite-the-constant-warnings\/","url_meta":{"origin":2626,"position":2},"title":"Why the sky doesn’t fall, despite the constant warnings","author":"Odysseus","date":"January 9, 2006","format":false,"excerpt":"Here's a step-by-step instruction manual in writing a sky-is-falling 'news' story: First, find some seemingly scary datum. Second, extrapolate the trend to absurdity without ever once cracking a smile. Like this:If present trends continue, the price of gasoline may someday hit $50 a gallon. The average worker could spend as\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1645,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1645\/a-real-estate-recovery-in-early-2008-dont-be-so-sure\/","url_meta":{"origin":2626,"position":3},"title":"A Real Estate Recovery in Early 2008, Don’t Be So Sure…","author":"Cooksquared","date":"July 10, 2007","format":false,"excerpt":"Chicken Little made the famous quote, \"The sky is falling, the sky is falling.\" Would he have been more believable if he had said the sky is falling, but I expect it to ease down slowly and rebound early in 2008? This is exactly what many real estate professionals have\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1868,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1868\/flashed-cards-look-up-in-the-sky-its-supersalesman\/","url_meta":{"origin":2626,"position":4},"title":"Flashed cards: “Look, up in the sky! It’s SuperSalesman!”","author":"Greg Swann","date":"August 29, 2007","format":false,"excerpt":"Benjamin Bach:I receive more comments on these than any other card I've ever seen. Say what you will, this is the most ambitious card we've seen so far. And do please say it with pictures. Technorati Tags: real estate, real estate marketing","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/27\/ho-hum-sky-doesnt-fall-after-all\/","url_meta":{"origin":2626,"position":5},"title":"Ho-hum: Sky doesn’t fall after all","author":"Odysseus","date":"December 14, 2005","format":false,"excerpt":"Despite my expecations, the news is no-news in the Republic:Metropolitan Phoenix's resale housing market slowed to a more sedate pace in November, although the price for a typical house bounced a few thousand dollars higher.This is pretty underwhelming considering all the hysterical build-up, but at least we don't have sob\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2626"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2626\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}