Since the beginning of 2009 just about every agent, lender, or title agent I have spoken with have all said the same thing....increase in activity. At first no one wanted to speak about it too much in case it was just a fluke and would disappear, but it hasn't! My partner, Robbie Fenn, and I have already closed 4 deals together and we each have deals we have closed separately. Also, we have several contracts that are short sales and are awaiting approval from lenders. Our listings are getting more showings and we have had several calls that were generated from our listing signs. Two days ago, I wrote an offer and today I have spent most of the day negotiating in a multiple offer situation. I also wrote a different offer this morning and by this afternoon had received a verbal acceptance! While attending Florida Assocation of Realtors "Great American Realtor Day", I spoke with many of my agent friends around the state and they too are expressing the same experiences! This is great news for the State of Florida as we have really had to struggle in a dead market and trudge through the learning process of short sales! Ugh! The one thing I can say is that these last two years became "Survival of the Toughest" and has made those who have survived it a much stronger agent that will serve their customers even better in the future.
One of the broker-owner of RE/MAX Paradise Properties recently read the article by Steve Harney at www.KeepingMattersCurrent that says that the real estate market follows a 9-cycle stage. Debbie was able to review those changes and tie them to specific years in our local area. They are as follows: Optimism - 2003, followed by Excitement - 2004, peaking with Euphoria - 2005, this stage creates rising prices and a sellers market. Then the downward turm begins with Denial - 2006-07 and you see the prices start to fall, and then Panic ensues - 2007. Fear begins to creep in and is quickly followed by Panic - 2008 and then this creates a Buyer's market as it spirals to the bottom. Despondency begins - 2008 to present. With time the cycle will move to Hope (which I am "hoping" is starting now) and then back into Optimism. I was really amazed at how Debbie was able to really note those stages so well in our local market. Debbie goes onto to say that the Euphoira stage presents minimal opportunity and maximum risk represented by low inventory and elevated prices; whereas the Despondency stage brings maximum opportunity (high inventory) and minimal risk (high inventory and lower prices)..com
Can you see these stages in your market???
I am staying positive and focusing my energy to contnue through the Hope stage and onto Optimism.
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