Since President Bush signed the Housing Bill at the end of July, I've experienced a huge surge in market activity. July was dead quiet and August has felt like Summer in Real Estate... I've listed a great new house, received an offer on one of my listings, and written 3 offers. - I'm not trying to gloat.
I am curious!!
Are you feeling a surge in market activity?
-Bill
Bill, I would agree that we have seen a small surge, even those in our office have commented that things were picking up.
Grace, Best of Luck!! Short sale listings are incredibly stressfull. Dealing with the bank, the homeowner, and the market.... Oy. What work. Been there, done that. I'd recommend a lot of open houses for that... The time is short and most advertising takes a while to get wound-up...
It really helps if you can get a set/approved commission rate and an acceptable/approved price in advance from the bank. The listings that say something like "commission rate subject to lender approval" tend to sit there until the house gets foreclosed on. - Agents are afraid of getting a stupid low commission rate by the lender, so they avoid showing it.
Home sales here in July 2008 were up by about 800, a 4% increase, over July 2007. I'm a home inspector, so I don't care what the real estate is selling at, but I sure like to see it sell!
Russel, Very Cool, a 2008 number out-pacing a 2007 number! I knew it had to be happening somewhere!!
Where else? Talk people!! I'm not kidding! The market has hit bottom or is hitting it over the next month or so!!
Prices in San Diego skyrocketed from about 1999-2005, far outpacing salaries of the work force, to the extent that in July 2005 only about 10% of San Diegans could afford to buy a home here. That number increased to 17% in July 2008. As prices drop, more people can afford them, and since those people were renters, they now are moving into the homeowner's category since their credit is good, they have a good job, and they have saved some money. I don't know whether the price of real estate has hit bottom, but that doesn't really concern me. There are people out there qualified to buy and willing to buy, and I'm willing to help them.
Jim, You are a great salesman!
"There are people out there qualified to buy and willing to buy, and I'm willing to help them."
I love it! You've hit the nail squarely on the head! Go sell something good! Your attitude is exactly right!!!
Thanks for the comment!!
Keep 'em coming folks! There is good news about the industry out there!! Post it here! and Everywhere else!
We haven't seen the upsurge her in upstate New York. I hope it happens soon. August has been deadly quiet. Congratulations on the business, that's great. The work I have, I have gone out and grabbed. Open houses are helping also. At Weichert we market our properties every week-end by hosting oppen houses.
Not sure if its the new housing bill but My web site and buyer leads have picked up 12% so far this month. Ill take it!
It seems like it has picked-up...more calls, more web hits, etc.. I have been hosting open houses and really haven't had much activity. But 2 weeks ago I had 11 sets of people thru in a 2 hours span.
This is one of the 1st months where our sales board is longer than our "new" listing board. I'm keeping my fingers crossed!!!
Ray, keep going out and grabbing the work! It is usually the most effective way in ANY market conditions.
Laura J., Is there anything else in your area that may have caused the up-swing? Good news happened on a national scale with the housing bill. I would expect that it is at least part of the up-swing.
Laura K., a great benchmark! Sales outpacing listings! I'm sure that's a good feeling after so many months of it going the other way! - I've experienced a bit of a pause in the upper-end with the Olympics. Do you work the upper-end of your market? Maybe it is the Olympics??
Comments(11)