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.

 

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9 Comments on Signs of a Changing Market

SEP
18
2009

Hi Brian,

Things are heating up on the left coast, too!  Glad you had a great week.  Hope next week's even better!
11:32am • #1
296,366 Points 19 Featured Posts Outside Blog

Well I am seeing the same things Brian!  Multiple offers are all over the place!
4:46pm • #2
433,391 Points 20 Featured Posts Localism Sponsor Outside Blog

I am anything but slow. I feel as though I missed the entire summer and all the things I usually do because I was working 10 hours a day. But you have to make hay while the sun shines. Glad you had a great week.
4:57pm • #3
145,576 Points 5 Featured Posts Attended Rain Camp Called Shot Master

I'm glad to hear that things are heating up in your area, Brian.  I  sure hope it heads my way soon - 
5:21pm • #4
237,386 Points Attended Rain Camp

Hello Brian, good to hear it heating up like 2004.  We've had warm, then cool, then warm again in this Washington.  Thanks!  John
11:10pm • #5
SEP
19
2009

Glad to hear your market is doing well.  With interest rates so low, it only makes sense it would be a good time now.  Hope it continues for you. 
9:01am • #6
SEP
20
2009
1,030,137 Points 67 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I suspect your sellers are pricing your listings correctly and you have the tools to counter the NEGATIVES in the media and press!!! Good for you!!
7:36am • #7

Things are hot in No Virginia in the $350,000 maybe $400,000 and under range. The $8K incentive has worked. IMO the government should offer across the board to all home buyers. The first time buyers are purchasing foreclosure and short sale properties; but there are not enough move-up buyers to support those middle price ranges, $500-$750K, and these sellers are not moving up to $1M+ homes.

Let's hope Fuller is right.

 
7:37am • #8
SEP
21
2009
475,499 Points 15 Featured Posts Outside Blog Called Shot Master

2 offers in less than 24 hours, bet your seller is very pleased!
5:53am • #9


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Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance, Managing Broker/Branch Vice President) Rainmaker_large

Brian Block -- Northern Virginia & D.C. Real Estate

McLean, VA

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RE/MAX Allegiance, Managing Broker/Branch Vice President

Address: 6226 Old Dominion Drive, McLean, VA, 22101

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