It's 2009 or at least it is supposed to be. This week it seems like it could be 2004 at least in my little corner of the real estate world.
Here's a few signs of the changing market that I've experienced this week alone:
- 2 offers on my townhouse listing in Alexandria.
- 10 people taking my pre-licensing class -- they want to be REALTORS? (Don't they read the newspapers and listen to t.v. news? The real estate market is supposed to be horrible, remember...)
- Put a house on the market yesterday. Finished entering the listing into the MLS around 11 a.m. By 2 p.m., 3 agents had visited the property and one called me indicating she'd be writing an offer. Today I have another agent sending an offer as well. 2 offers in less than 24 hours on the market!
- In less than 12 hours after I announced it, 35 agents in my brokerage have signed up for a preview tour of an ultra-luxury condomium in Arlington.
- Yesterday, I attended an economic briefing by Dr. Stephen Fuller, Director for the Center of Regional Analysis at George Mason University. Following Ben Bernanke's lead, Dr. Fuller declared that the recession is officially over. He expects home sales and inventory numbers to come roaring back around March of next year.
The real estate market is dead. Business is slow.
I certainly don't think so.