What Direction Is Your Market Headed
With the recent news of existing July home sales plunging (27.2%) to its lowest level in approximately 15 years. Some economists are predicting a double dip recession. A couple reasons are because a lot of the banks are holding foreclosures off the market along with weak employment numbers.
It would be great to hear your take on the market in your area. Where it is now and the direction you think it’s headed. It would also be great to hear what you think is going to help things get better in the future.
Good business people make adjustments depending on the market conditions. I would love to hear what you are doing to grow your business in these challenging times. Especially if it includes technology 🙂
Sharing is a great way to build friendships and help each other. I look forward to what you have to say!
Toni Adcock
Posted at 22:28h, 24 AugustReal Estate on Lake Martin in Alabama is very active! Lake Martin is a second home/retirement area and buyers here are shopping for deals but offers are on the table and are closing. Numbers for this year are on pace with the same numbers from last year but the average sell price has risen.
The internet accounts for approximately 85% of my business and I market it aggressively. Blogs such as yours help me immensely.
Toni Adcock (www.toniadcock.com)
Anonymous
Posted at 05:56h, 26 AugustToni – I am glad to hear your market is doing well 🙂 I also generate the majority my business as well from my website.
Greg
Posted at 13:36h, 25 AugustIn SoCal the shadow inventory is a lot more shadow than inventory. We’ve been hearing about it for more than two years.
The major banks are now adopting a loss mitigation strategy (Chase’s list assist and BofA’s High Performance short sale programs) so short sales are our market for years to come.
Decreasing demand and increasing inventories will require Realtors to become master marketers and if they can do that without technology I for one will be amazed.
Anonymous
Posted at 05:54h, 26 AugustThanks for your take Greg. I hear Chase is kind of difficult to deal with and BofA is actually getting easier to with shortsales.
Eric @ Yorba Linda Homes
Posted at 15:45h, 01 SeptemberHey Jeff, BofA is getting a LOT better to deal with in terms of short sale transactions. Have been hearing a lot from many different banks in terms of “streamlining” their short sales to make them easier and more efficient but BofA has done very well in implimenting this.
Am also in the Southern California marketplace and we are definitely seeing a large increase in inventory of homes for sale with a pretty stagnant demand. As greg said, we all (Realtors) need to become “master marketers”
-Eric Watts
Anonymous
Posted at 03:46h, 28 AugustAlthough a local economist has openly stated that the Maui market has bottomed out, I don’t agree with that. As a destination location, we rely heavily on Mainlanders to keep the market moving and until the national economy improves dramatically (and unemployment rates would be most relevant/important for long-term real estate stability) I don’t foresee growth. And well, with a HUGE shadow inventory looming, a double dip is a very real possibility.
Rob Dalton
Posted at 07:19h, 31 AugustJeff,
I focus more on vacation rentals, but this August was one of the best I have seen in a long time from a tourist standpoint. I would have thought that would have brought a descent increase increase in real estate sales.
Karen Brewer
Posted at 02:37h, 04 SeptemberMy market is Fairfield County Ct,mostly Darien.We had a strong spring but a lighter summer.I was hoping for a robust fall but i sense the media banging the negative drums again as elections draw near.Think they may reinject fear into the market here….just as people were dipping their toes back in the water.
dieta anului 2011
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