You are right the market has been a declining market for sometime now actually going on for almost two years. However, the market has returned to the 'good old days' of buyers have to be of good standing credit wise and be 'vested' into their property.

Like it was said before most markets are cyclical, i.e. up and down cycles. Gold now at or near $1,000 well for those old enough to remember this is how it was in the 80's and everyone was buying it and then it crashed back to under two hundred. But it was never worth nothing.

The valley homes have had the same run up only banks provided the incentive for persons with lousy credit and no money down to play in the game and buy a home. Greed took over for institutions and just plain common folk and everyone who tried to get something for nothing got hurt. And some were smarter and made money. If it's too good to be true...it's too wrong to be right.

If you buy a home today, bid on your desire and be happy with your investment. Homes were meant to live in and raise families over the long haul, not to be a cash cow. Maybe when you have paid off your 15 or 30 year note...but not tomorrow. Using this train of thought I've sold three homes this month. It's a long-term investment and always has been. Sorry for your loss.

Fri May 9 2008, 07:10

Brad,
What exactly is your point. Every market goes through cycles. Are you frustrated because you can't get a loan? I have done business in Tracy several times and have never had a problem. Yes the market may still be declining,but the investors are buying. Rates are still pretty good and my business is great.

Thu May 8 2008, 23:04

Brad,

This is a situation being faced by many markets in California. Some of us call it redlining, while lenders prefer the term "declining market."

Grrr!

For an additional rant, read the link below.

Thu May 8 2008, 21:43