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It was just lighting - Real Estate still suxs

By
Real Estate Agent with Mezzina Real Estate & Insurance

The other month I got a little excited about the sales results for September. I was not sure how exactly to interpret the raw data. Looking for a silver lining I indicated that indeed we may very well have hit bottom and on our way to a rebound. I was wrong. It was just a strike of lighting - real estate still suxs.

October 2010 Sales for 08087

Compare the numbers above to the same period last year and see if you agree with the Press of Atlantic City, which claims the price of homes is on the raise. Remember, numbers don't lie, but liars use numbers.

October 2009 Homes Sales in 08087

So, I don't know how they came up with the news article or who in the National Association of REALTORS would release such mis-information to the public. I admit I was wrong on my last month optimistic view of the sales trend. Will they come forward and admit no one really knows what is going on in real estate? 

 

 

Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Greg, I still wonder how many of the fall sales were stolen forward to the spring/summer by the tax credits.

Nov 15, 2010 01:58 PM
Gregory Bain
Mezzina Real Estate & Insurance - Little Egg Harbor, NJ
For Homes on the Jersey Shore

Bill, I am of the opinion that the tax credit incentive did little in my area. At least in my wallet. I am worried enough about the economy and my lack of sales to take a renewed interest in other "income producing" employment. Hope its better for you in Ohio.

Nov 16, 2010 11:13 AM
Laura Giannotta
Keller Williams Realty - Atlantic Shore - Little Egg Harbor, NJ
Your Realtor Down the Shore!

While we're down here in the trenches Gregory, NAR looks at regional and state figures.  Oftentimes that means our little corner of the world is misread!  I'd like NAR and the various REALTOR organizations to follow their own advice all real estate is local!

Nov 17, 2010 10:40 PM
Laura Giannotta
Keller Williams Realty - Atlantic Shore - Little Egg Harbor, NJ
Your Realtor Down the Shore!

Hey Gregory...I just noticed you're coming up on the 100,000 mark!!!

Nov 19, 2010 09:32 AM
Joseph Michalski
Precision Home Inspection - Lansdale, PA
PA Home Inspector

Interesting take on it.  I always wonder about the reality out there when I hear any kind of economic data and forecasts, but especially with sales data for real estate.  Still, this year will continue a trend for me of business growth, but that is probably more the result of marketing and outreach, and simply meeting more people and getting more referrals.  I find that the baseline homes have continued to sell pretty consistently throughout (those being sold to newlyweds, couples with a child on the way, older folks downsizing, job relocations, etc).  The inspections that are a bit more rare now than they used to be are the McMansions and estates over $750,000.

Good blog, and interesting to see your take on it!

Dec 01, 2010 08:21 AM
J. Philip Faranda
Howard Hanna Rand Realty - Yorktown Heights, NY
Associate Broker / Office Manager

I'd be worried about pending sales being down 50% off last years pace. That sure doesn't look good. 

Dec 03, 2010 03:01 PM
Gregory Bain
Mezzina Real Estate & Insurance - Little Egg Harbor, NJ
For Homes on the Jersey Shore

Laura, yeah. thanks for noticing the "milestone". They say half the battle is in just showing up.

 

Joe, It's kind of the same here. There will always be those that "need" to buy and feel the home is worth the asking price. I mean what the heck, 90% of the country is still working.

 

Philip, It is a big enough concern to me that I am now a "part-time" agent. I was forced to take on another job to help pay the monthly bills. I am not sure if that is a long term or short term solution. Only the crooks at Wall Street and our Bankers know for sure.

Dec 04, 2010 02:49 AM