OfflineHello again all.
I have a question regarding the market cycle.
Whats the best way to tell when the market is at its highest peak or lowest valley respectively? If i recall properly, I remember Dean stating that you cant get the exact moment until it passes but with the right homework, you can come close.
Furthermore, i recall him stating something like when the cycle is at its highest or lowest is when supply and demand are stable. Whats the best way to tell that?
I did a market cycle in regards to my local market and i figured it was ready to go in an upswing. I even drove around town and noticed some large infrastructures being built which will mean more jobs (whats the best way to tell what type of company is being put there anyways?).
Then i figured i would take my first LARGE step in this business, and drive around town, noting every house for sale, jotting it down with the number to call. In about an hours time, i jotted down 26 houses (single and two family) which seems like a lot to me.
So with that came my curiousity in when to tell if the market is at its highest peak or lowest.
Thank you for your patience as i am still new to this game and still soaking up as much knowledge like a sponge. I read Dean's book in a week as i found it most interesting, which brings me here 
You never know if you are at a peak or bottom until it has already happened. The key is to jump in or out right after it turns. The best possible way is to predict it, and have perfect timing, but that is difficult, and unadvisable, especially starting out.
The easy rule of thumb is this... when everyone is selling their places dirt cheap and the majority is not buying, (ie: now) you should be buying. When everyone is buying at big prices and people are trying to hold out selling to get even higher prices, that is when you should be getting out (selling).
I would say read your local paper or get in touch with a local realtor?
Are DOM increasing or decreasing?
Are sales prices increasing or decreasing?
Is inventory increasing or decreasing?
I got an email from my realtor last week that indicated that the bottom MAY (note the word may...) Invesntories actually declined for the 1st time in... years.