Current Market Trends

Jason Duval (Keller Williams Realty) — Mon, 10 Jul 2006 20:48:59 -0700

Just some thoughts...

What are the general public's thoughts on the current real estate market trends (or at least the percieved trends)? As an agent it seems that both buyers and sellers are waiting for some great revelation to spring up and answer all of the mysteries of the great unknown real estate puzzle.

No matter who you talk with in the industry, there seems to be a different view from everyone. Some think the market has gone neutral, while others believe the market has merely soften and still others believe we have entered a full blown buyers market.

Will the market crash? Most of the "dooms day" prophets in the media both locally and nationally don't seem to think so. So why do so many consumers seem to think that? Could it be that intrest rates rising have spawned fears of a dramatic rollback in prices? I don't see it. Granted there are many homes out there who seem to be enduring price drop after price drop, however these homes were over valued in the first place.

Forclosures are on the rise. Just today (7/10 a Monday) I found 28 forclosure listings in the local paper. What does that tell me? It tells me that too many people forced themselves into a home that was over valued with a loan that they had no business taking the risk on. Greenspan warned that the ARM and intrest only loan revolution was going to see a desperate day in the future. Welcome to the future.

So what is selling you might ask? Homes that are in good condition, decent locations and are fairly priced are selling. No revelation needed.

Jason Duval's Blog

Current Market Trends