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Has The Market Stabilized?

By Mike Linkenauger

Real Estate Broker/Owner with LinkUp Realty

December 04, 2009 04:03 AM

That's a question we hear frequently.

Has the Real Estate Market Stabilized?

Has the Real Estate Market Stabilized

Through The Short Sale Specialist Network, we are in constant communication with some of the top agents around the country on a daily basis. This questions seems to be something we hear all to often. "When is the Real Estate Market Going to Stabilize"?

How do you answer this questions? If I had a crystal ball that could foresee the future, I'd be a billionaire by now! Until I can find one, I can only go by the signs that I see around the country, and formulate an answer based on this evidence. My experience is that home prices in some heavily distressed areas have reached near bottom, but in some areas that felt the hit later than others, the bottom is not in sight. One thing is for certain in many area, home sales are up! Unfortunately, prices are down!

With the Winter slowdown now in full swing, the next two months are critical to the recovery of the real estate market. In my opinion, and from what I've seen, the highly distressed areas that have decreased 60%-70% from the peak (Phoenix, Vegas, and much of Florida), the prices may finally be reaching a plateau. I can certainly speak for our area in North Florida, prices are down, sales are decent.

One big indicator as well is that the number of NEW listings on the MLS is down dramatically, and the total inventory is down dramatically as well. Unemployment will play a key to the recovery of the market. Lenders can modify loans all they want, but if they can't provide employment for borrowers, don't expect them to pay! This variable will continue unfortunately to lead to high numbers of short sales and foreclosures in 2010.

Real Estate Market Housing Bubble

What is the Real Estate Market like in your area?

Has the Market Stabilized?

Are home sales and prices up or down in recent times?

Mike Linkenauger

Short Sale Specialist Network

(877)737-4903

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Vickie Nagy

Coldwell Banker Residential Real Estate - Palm Springs, CA

Vickie Jean the Palm Springs Condo Queen

Our market turned back in May here in San Ramon CA. Inventory is extremely low and prices are moving up.

Dec 04, 2009 04:06 AM

Frank Kliewer

Woodinville, WA

It feels like we are at least getting closer, even if we have not totally stabilized. We won't know for sure until we get into next year.

Dec 04, 2009 04:07 AM

Roy Giordano - Top Real Estate Expert

RE/MAX Central, Marlboro, Manalapan, Freehold, Old Bridge NJ - Marlboro, NJ

Top Agent Marlboro NJ, Marlboro/Manalapan Homes

Mike, nice blog. Yes, that is the big question lately - has it stabilized.

I like the line about the crystal ball, I use it all the time.

Thanks for posting.

Roy

www.roygiordano.com

Jean Kelly

,GRI, Kiser Realty - The La Cita Group - Titusville, FL

Hi Mike:

I am sitting here on lunch break at a seminar in Brevard County, East Central Florida. Our instructor is a high-profile Realtor from Orlando, and statistics he presented for Orange County (Orlando) florida today were amazing.

Inventory was down to seven months ( a drop of 36%) now.

Prices for the last two months were stable, with a Median Price of $179K.

I looked at Brevard's Numbers Yesterday, and even though we dropped in price again from Oct to Nov, the drop was only about 1%, and new listings were down and inventory was somewhat lower.

So I guess we are seeing an improvement here. And for me, business is ROCKING!!bat

Dec 04, 2009 04:12 AM

LinkUp Realty - Jacksonville, FL

Short Sale Realtor - Jacksonville FL

Apart from a generally slow December as usual, the last six months has been AWESOME for us as well in North Florida!

Dec 04, 2009 04:16 AM

Li Read

Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC

Caring expertise...knowledge for you!

Thoughtful post...appreciated your comments on the market. Low inventory, low prices, stability in sales...seems to forecast a benchmark marketplace.

Dec 04, 2009 04:33 AM

But there are still way too many variables, I fear that with the tax credit for first time home buyers ending in a few months, and all the first time home buyers now "off the fence", we may have another slowdown.

The key is that prices as definately stabilized in some of the hardest hit markets.

So agents in other areas, What is your experience? Has the market stabilized in YOUR area?

Jan 08, 2010 01:10 AM

Has The Market Stabilized?

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