http://activerain.com/blogs/alisonhamilton en-us http://activerain.com/blogsview/708656/calling-all-professionals <p>Everyone is trying to figure out where they fit into this scary time in our industry.&nbsp; We have never seen times in the housing sector in the lives of most of the people&nbsp;we know, let alone those of us in the real estate business.&nbsp; In 15 years, I have seen&nbsp;a few&nbsp;short down times and still&nbsp;have been&nbsp;able to make a fair living.&nbsp; As with the .com bubble of the late 90's, it wasn't too hard to predict the outcome of over speculation in the housing market.&nbsp; Simple economics tells us that oversupply equals less demand and therefore, lower prices.&nbsp; In my own local market we have 11.4 months worth of inventory currently for sale.&nbsp; Simply stated, if no more houses come on the market, it will take us almost a year to sell through the properties on the market.&nbsp; Having said that, we are also seeing a reasonable average market time for properties that sell, which hasn't dramatically increased over the last 4 years.&nbsp; What this tells me is that if a home is market ready and positioned correctly in the marketplace, we will be able to find a buyer.&nbsp; The exception to that conclusion, however, might be subject to certain price ranges and number of sales in the last 6 months in that price range.&nbsp;</p> <p>I have faith in&nbsp;the average homeowner in our country who buys a home, not for financial speculation, but for the quality of life for themselves and their families.&nbsp; One of the fastest growing demographics of home buyers in our country is single women along with immigrants.&nbsp; So, while we are seeing unprecedented foreclosure rates and short sales, I feel an obligation to focus on the American Dream and those who want to&nbsp;achieve it, rather than those who have exploited it for their own gain.&nbsp; It's unfortunate that many people have gambled and have lost.&nbsp; What's more unfortunate is that while there was a surge of speculation, some of those buyers were forced to overpay in some markets because market values were escalating at incredible rates.&nbsp; Anyone who had to move will tell you, they had no choice but to pay more for a home than they really wanted to.&nbsp; Those are the true losers in this bubble.&nbsp; What I school my sales associates on today is advising homeowners about the market they are in and to determine&nbsp;the reason&nbsp;they need to sell.&nbsp; If an owner can wait until next year to put their house on the market; they should.&nbsp; If all of us act responsibly and professionally as expert advisers in the largest investment of some people's lives, we would do everyone a favor by reducing inventory and stabilizing prices.</p> Coldwell Banker Hamilton & Associates Thu, 25 Sep 2008 10:52:40 -0500 http://activerain.com/blogsview/708656/calling-all-professionals