Why The Real Estate Market Is What It Is

Do you understand why our market is where it is?  Do the Sellers??  I attended a workshop yesterday and really enjoyed these 5 points:

  • ARMS have begun to adjust. People can't afford the higher adjusted mortgage payments and are now putting their homes up for sale.
  • Over the last two years, National Association Of Realtors states that 40% of all home sales were to investors.  Now, they are trying to sell their vacant homes that they haven't been able to flip or rent.
  • New home builders. Once they begin development, they have to finish and build it out. They are offering huge price incentives, trips, cars, cash, etc. How can a resale seller compete against the deep pockets of a builder?
  • Bank owned REO's notice of defaults and short sales are all on the rise!
  • Normal sellers, that have to sell.

We are no longer in a changing market.  It is CHANGED!

 

6 Comments on Why The Real Estate Market Is What It Is

That makes it even more important for we REALTORS to focus on the 20% to produce the 80% of results. We have to utilize technology, and systems that maybe we have not used before, or ignored.

06/07/2007 10:37 AM by Kenneth Fach (Amerisave Mortgage Co)

Excellent post.  Loved the end sentence.

06/07/2007 10:41 AM by ARDELL DellaLoggia (Sound Realty)

I think the ARMS and the investors go hand in hand. Personally I am glad to see the investors taking the brunt of it. Real estate here became a portfolio item and I resent having people look at my town like that. I sell homes for people not portfolios.

06/07/2007 12:08 PM by Greg Cremia (Shore Realty of the Outer Banks)

It is what it is.......... well said. It has changed. New sellers know what they are facing. Buyers know the market. Realtors know the market. All the players are informed. Now, the stage is set. Let us go forward with no excuses. Excellent post.

06/07/2007 12:12 PM by Gary Waters - Real Estate Agent Viera Suntree (Century 21 Baytree Realty www.moving2brevard.com)

Yes Sue, it has changed! I am finding deals for buyers like never before!

Jack

06/07/2007 11:04 PM by Clearwater Beach Real Estate |Clearwater Real Estate Homes & Condos -Jack Haydon (Belloise Realty)

Tons of opportunity out there!!

06/08/2007 01:25 AM by Sue Nelson, Broker/Associate Las Vegas Real Estate ~Team Rhino~ (ERA Sunbelt Realty)

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Real Estate Agent: Sue Nelson, Broker/Associate Las Vegas Real Estate ~Team Rhino~ (ERA Sunbelt Realty)
Sue Nelson, Broker/Associate Las Vegas Real Estate ~Team Rhino~
Las Vegas, NV
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ERA Sunbelt Realty

Cell Phone: (702) 324-5440
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