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L.A. Land: latimes.com  --Peter Viles
Leo Nordine's advice: Rent now, buy in 2010

Advice from L.A.'s "king of foreclosures," Hermosa Beach real estate agent Leo Nordine: Now is the time to rent and save your money. The time to buy is 2010.

....Nordine, a favorite of this blog for some time, is an unusual figure in L.A.'s real estate world: a soft-spoken, low-key contrarian -- and big wave surfer -- who works in his bare feet, prefers to sell mainly foreclosed houses, and is wildly successful.  Don't let the Zen/surfing vibe fool you; his secret is his work ethic. He has sold 3,500 bank-owned houses over the last two decades....

"Try to find another Realtor who has been telling everybody not to buy. ... For someone out there who's renting, I'd recommend saving as much money as possible. Pay down all your debts as much as possible. And seriously look at buying around 2010."



As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Oct 25th, 2008 at 12:34:19 AM EST
[ Parent ]
If not 2011. We've still got a looong way to go if the market is going to undershoot historical norms.

you are the media you consume.

by MillMan (millguy at gmail) on Sat Oct 25th, 2008 at 03:49:34 AM EST
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