Real Estate Blog - THE REAL ESTATE MARKET - READ IT AND WEEP

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THE REAL ESTATE MARKET - READ IT AND WEEP - OR APPLAUD

Normally, bad news from one group results in good news for another group, the balance of winners and losers. But, for the life of me, I can't find a winner in our presently depressed and getting more depressed real estate market.

THE NEWS HEADLINES REVEAL THE NATIONAL SLOW DOWN IN
REAL ESTATE SALES ACROSS THE SPECTRUM

Of the last 43 real estate new headlines today, 15 were about the down turn
in real estate home sales and the reverberation throughout the industry.

Look at the headlines just for today.
Sales Down in NC
Construction slowdown pulls mortgage rates down
Buyer get upper hand in Central Ohio
Loan Applications slow
Real estate rates stall
Brokers strategies for slowdown
Buyers gain ground in S. Florida
Overnight rates down
CA luxury price gains down
Slow growth in economic future
Home prices, sales down in third quarter
Foreclosures increase
Real estate slowdown in Illinois
Canadian home sales slow
New construction down to 6 years low

The housing industry has fueled the United States economy for the past 6 years. Now that we are in "adjustment" period, what will pick up the slack? Will consumer spending at Wal-Mart and Gucci make up the loss to the national economy??? Or, perhaps Best Buy?? They were hot today. Technology sales will fuel the Christmas gift buying this year. But, how much will they have to discount to get the buyers in???

The Northern Virginia and Maryland real estate market certainly wasn't hot today.

Homefinders.com had a total of 4 good leads today.
$350K town home in Southern MD.
$2,3Million home in Northern Virginia
$700K home in Montgomeryy County MD
$450K town home in Northern Virginia

All leads are distributed and now it's up to our wonderful agents. They'll have lots
of homes to show these buyers.

Listed ACTIVE homes for sale in Northern Virginia - 30,517
Listed UNDER CONTRACT homes in Northern Virginia - 4164

Listed Active homes for sale in Maryland - 37,563
Listed UNDER CONTRACT homes in Maryland - 8506

THEN ON THE OTHER HAND, we lost a contract to a home inspection today.
You win some, you lose some.

27 year old home with a 27 years old AC.

Homefinders.com Lenn Harley, Broker

Search Homes For Sale Homesdatabase.com

Posted by Lenn Harley, Real Estate Broker, Maryland & Virginia on 11/24/2006 06:43 PM

Comments (4)

maryland real estate, homes in northern virginia, homes in maryland, lenn harley, homefinders, realtor, active rain

4 Comments on THE REAL ESTATE MARKET - READ IT AND WEEP - OR APPLAUD

NOV

2006

Things are slow here too. We have so many realtors and not very many buyers. the sellers are taking the homes off the market and waiting for spring. From what I have been reading there will be activity in our local market in the spring due to pent up demand.

Most homeowners are adaptable, when the price of gas went up we found a way; this happened in the 70's and 80's. The mid 80's to 89 was a period of big equity gains followed by the sluggish 90's.

I learned that, for me , I enjoy the listing and selling frenzy during the sellers market and really enjoy making money from investments during the buyer market periods.

NOV

2006

We have also seen the same here. Less buyers, more days on the market and home inspections that break the deal. But, the buyer still wants me to show them more houses.

NOV

2006

Don't get me started about the press.

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