Last weekend I was on assignment in Minnespolis-St. Paul. One of the friends that I had a chance to visit with is a very successful realtor of upscale homes. A special conference of all realtors was held on Friday. Two things were recommended:
1. New real estate brokers without an established book of business clients should exit the business.
2. The market will not recover till 2008 at the earliest.
One additional observation I have is that the market in the Twin Cities was very overvalued in some areas----and the resulting plunge in value is both stunning and shocking in the pain it has and will cause young homeowners. In short----if you are a buyer, watch and wait. There are going to be some values on the buy side.
I do hope that since Rock county is not the same speculative market that the Twin Cites is that thus we can avoid some of the horror stories I have already heard on visits to the tundra of Minnesota. I will keep you posted on this developing story.
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