Walter Molony Quotations

Seller concessions have not been common in the last five years. Sellers haven't had to offer them. But as we become more balanced, especially in areas of high inventory, that's where you'll see the use of concessions become a bit more common.

But this is uncharted territory. We've never seen this kind of destruction. There are relief efforts down there and you have real estate agents as refugees. There is too little known at this time.

We think for all of 2006, we will see a slowing of price growth in housing prices.

We think 2006 will be another record for second-home sales.

Our survey doesn't explain why. It gets down to being as simple as women have a better understanding of housing as a long-term investment. Single guys are more interested in consumption. They don't get serious about real estate until they meet the right woman.

Our cabin is worth less than half our primary residence yet we're paying a lot more. And our premium just went up 56 percent.

We've never had a streak like this. We think we've come to an end for setting a record each year, but we're projecting this is a new plateau because of population growth and household formation.

There are just too many unknowns right now. They're moving refugees to Texas. There hasn't been a lot of focus on people who are living in hotels and there are presumably 1.5 million people affected in Mississippi and Alabama. There is no one analyzing what the market impacts are going to be because we've never been in a situation like this before.

We've not seen anything like this previously. There have been hurricane disruptions, like Andrew, which was a temporary thing and the market bounced back, followed by a return of a red-hot housing market with housing prices hitting new highs in 2004.

This was the first time we asked about second, third and even fourth homes.

What's been happening in markets with tight supply is you have people bidding over the asking price. That's what's accounted for this abnormal rate of price growth.

We're going to be entering a period of relative balance between buyers and sellers. We're going from a sellers' market to a balanced market.

You get to a certain level of that doing that for a while, and you can't sustain that. Nor do you want to.

We think that sales might ease a little bit in November, but they should stay within a fairly narrow range through the first quarter.

You need to understand cash flow. What's going to be your income and expenses on your property? You need good entrepreneurial skills. You need to have six months of reserves in case things don't work out the way you think it will.

You might as well roll dice. This strategy is ill advised.

This has been fairly consistent over time. Younger people are more likely to move greater distances.

It's not like all of the buyers fell off a cliff. There are still people in the market during this time, just fewer. Some people think it's a great time to buy or sell.

It's higher than we were expecting. We were expecting about a 4.6 percent rise.

If you're on a flood plain, obviously that's an issue. And in the mountains there can be fire concerns.