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My Favorite Quotes
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 John Karevoll - “The boom part of the cycle is over. Most of the gains this time around are behind us. Now the question is how much of those gains do we get to keep.”
 John Karevoll - “When people got into trouble, they could tap into fast-building equity. Now that the equity is not building as fast, there's not as much to tap into in troubled times.”
 John Karevoll - “The ups and downs of default activity are clearly determined by whether prices are going up by 4 percent, or 14 percent or 25 percent annually. If it's worth more, you have more options.”
 John Karevoll - “There are an awful lot of analysts and think tanks out there telling everybody in the world the sky is falling, and they have been consistently wrong.”
 John Karevoll - “The prices hit a new record, but the rate of increase at which those prices hit that new record was the lowest in four years.”
 John Karevoll - “The market was heavily tilted toward sellers for the past couple of years, and the buyers felt an element of urgency and sometimes were making kind of desperate buying decisions. The market today is much better if you're a buyer.”
 John Karevoll - “We've had a doubling of prices in the last four years.”
 John Karevoll - “Only if we have very short memories can we say there's a downturn in sales, or at least that sales are significantly low. This is actually as close to a normal market that we've had in seven to eight years.”
 John Karevoll - “It appears that today's market is probably as close to what we would call normal as we've had in a long time.”
 John Karevoll - “I think we are in a fairly normal market here. The market we are comparing to a year ago was an abnormal market.”
 John Karevoll - “These numbers include condo conversions and (that) activity increased sharply last year. Since they are lower-cost homes, they pull down the median.”
 John Karevoll - “March is much more predictive of upcoming (home-buying) behavior.”
 John Karevoll - “In most markets, the boom phase of the real estate cycle is behind us. The market is reestablishing a balance between supply and demand, buyers and sellers.”
 John Karevoll - “We knew this would happen, and it's happening later than we thought. We thought appreciation was going to come down. We definitely thought the entry and middle markets would be less strong than they are today.”
 John Karevoll - “I think we are due for even more appreciation in the Inland Empire, but at a slower pace.”
 John Karevoll - “We expect prices to continue to go up but at a slower pace. We expect the (annual) appreciation rate by summer to come down to below 10 percent.”
 John Karevoll - “The rate of appreciation is coming down. We actually thought it would be lower than this by now.”
 John Karevoll - “Each market is separate, but most of the areas are developments that are at the low end of the cost scale. These are mostly entry-level houses. If you look at the last seven years in the Inland Empire, the entry-level market has been playing catch up. The appreciation cycle starts at the high end and then moves down to the middle market.”
 John Karevoll - “That part of the market is pretty stable, it's just that there's been across-the-board appreciation.”
 John Karevoll - “It's not that it's a particularly active market. It's just that more homes are in that category because of that rise in the rate of appreciation.”