I've been hearing this question a lot lately, "How is your business doing?" with a lot of concern in their voice. Understandably so.
Well, I must admit I miss 2006. That was the best year ever for me. The market has indeed slowed down but it is not as bad as everyone is making it to be. I do feel that I have to work twice even three times as hard as I ever did before to generate a sale. I think that no matter what the market does, you still have to keep doing what you're doing. Housing is such a basic need, people either would rent one or they buy one.
The housing stimulus did help me generate sales. I think there will be a surge of real estate activity as we get closer to Dec. 1 deadline.
I handle both sales and property management, with about 50-50 ratio. My office is always busy. I would say that we get a lot of activity on the rentals or lease with an option to buy. I notice that there are still a lot of people that are moving into the area, either through a job relocation or just a well-thought of decision based on their research of the area. Most of them do not even know anyone here, they just heard its a great place to live with a vibrant economy compared to the rest of the nation. I am feeling so blessed to be in this market.
I see people from Florida getting IT jobs in the area. People from Maine who abandoned their restaurant business there and moving them here. They say their business is almost dead there. I have another builder from Michigan whose business slowed down to a standstill and is thinking of establishing their business here.
There is a positive flow of people coming into the area. A lot of them rent for right now as they also have a house they could not sell where they are coming from.
Builders whose prices used to be in the $400's and up have now dropped them by $100K. They are the ones who are selling homes. They changed their floor plans and their standards to make them more affordable for people. If anyone wants a new home and they want a Dec. 1 deadline, I am afraid you are getting into the last minute of making it to the deadline.
Overall, the Raleigh Durham market is still a good real estate market to be in.
Buyers and sellers may have almost all on the internet to learn about real estate but what Realtors can offer them is our opinion about an area, a home or a builder supported by facts and stats, our tools and knowledge, something that comes only with experience. This is the value we bring to the table.
"Experience is not Expensive...It's Priceless!"
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