Is the Real Estate market heading UP or DOWN?

By
Real Estate Agent with Godzyk Real Estate Services NH License 033394
http://actvra.in/56vn

Listening to a heated debate at my local Dunkin Donuts, one gentleman was arguing the market is heading up while the other was arguing of a coming crash. I sat sipping my coffee and was going over paperwork for a listing appointment this morning. Out of the corner of my ear, i was listening as they went back and forth.

 

One of the men looked over with a grin, he saw my Godzyk Real Estate Services folder and asked me to join them. I had a lot to say, but should i get into it?

 

After introductions, they both made their case as if I was a judge over seeing the room. Those around were all sitting up straight paying attention now. It was my time to shine. I wanted to keep my response short, but neutral but also to correct what was being said.

 

I let them know our market here in NH is still strong. We had been facing a sharp shortage of homes and unlimited buyers wanting to buy. The basic principal of supply and demand has made home values increase. That is no longer so. When interest rates ticked up in late spring, buyers who were waiting jumped into the market and most have already bought. The amount of homes for sale has increased slightly. While the media was arguing political propaganda, the interest rate fell below 4 again. 

 

Those buyers entering the market today, will see a lower rate than a month or 2 ago. They are also finding a better choice of homes to look at. Rates though are subject to increase, and that could put speed bumps in our market. The good part of a free market, is a lack of new mortgage applications, bring that mortgage rate back down eventually. 

 

Despite the fellas plea to be on his side, we are not heading for any type of crash. The conditions that lead to the 2007-8 crash are not what we are seeing. There are no banks pending running out of money and there is no giant batch of foreclosures waiting to flood the market.

 

Both men stared straight ahead digesting my economic lesson. One said I should be on TV and the other had lots of questions.

 

In what i could write a whole other blog over, questions ranged from N. Korea, to Trump, to riots and how all will affect the market. I will write about that in my Thursday blog. But i did tell them those who are ready to buy, can still find a good deal, can find their dream home and still get a low interest rate. For those looking to sell, they can get a quick sale at market value when listed right.

 

The lesson is that through feedback and market studies we can see what values and trends we are experience. This is why a Buyer or Seller should not choose just any agent, choose the BEST agent for the job. My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

  

 

 

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

  

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 30 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

We stand by you through every step in selling your home
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Rainmaker
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Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

The answer is yes. It's going up but it will stabilize and maybe come down on its own somewhat. The exuberance we're experiencing now is not irrational. The market is just on fire to regain what was lost in the crash. 

Aug 15, 2017 06:49 AM #1
Rainmaker
1,259,840
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning Scott Godzyk, it's amazing how much we hear about real estate when out and about. Many areas are experiencing low inventory of homes so it's a great time to buy and sell. Don't wait to see what will happen down the road.

Aug 15, 2017 06:58 AM #2
Rainmaker
3,217,954
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Many people think we are heded for a crash real soon, but there is not the job issue like the last time...YET!

Aug 15, 2017 07:06 AM #3
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

I love how you sat there and observed until they took notice and pulled you in.  You handled it perfectly.

Featured in BananaTude!

Aug 15, 2017 07:16 AM #4
Rainmaker
34,165
Gary 'Banana' Houghtaling
Phoenix Property Shoppe - Phoenix, AZ
Phoenix Real Estate Agent

Scott if this country is foolish enough to ever allow a crash like 08 then we deserve what we get.  I do not believe that will happen. Our market is considered a normal except in the 1st time buyer + segment which there is a lot of competition.

Aug 15, 2017 07:57 AM #5
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

I agree with you Scott Godzyk agents who over price listings discourage agents from showing their listings and also from buyers looking .  Continuous price reductions do not help the sellers to get the most value for their home .

Aug 15, 2017 08:11 AM #6
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Anna Banana Kruchten,CRS,CRB,GRI
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Scott just another day at the local cafe hanging with the boys!!  All that talk about a another crash is such baloney!

Aug 15, 2017 10:24 AM #7
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Scott - I wouldn't be surprised if you picked up some business from that encounter, and I think you gave them a good solid read on where the market is headed.

Aug 15, 2017 01:02 PM #8
Rainmaker
1,948,659
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

None of us has a crystal ball.  However, I will say this.  There is a big difference between this market and the one that led up to the 2008 real estate crash.  And, that is a large percentage of homes are cash transactions.  And, we don't have the proliferation of "liar loans" and other lender shenanigans that led up to the 2008 downfall.  There's a lot more skin in the game.  People are working, and I believe the market is more secure!

Aug 15, 2017 04:01 PM #9
Rainmaker
2,151,940
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Scott.

No argument from me.  I started in April 2008,  the first year was brutal.  Don't want to see it again

Aug 16, 2017 01:42 AM #10
Rainmaker
2,256,143
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Scott, where is that Feature button,  This one is a keeper for sure.  Good job of getting involve with both of these guys, hope they got your card for future business.

 

Aug 16, 2017 07:00 AM #11
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

None of us know for sure what is going to happen and if we say we do, we are giving false information. I do hope we never see the markets crash again.

Aug 16, 2017 07:16 PM #12
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