I was reading the paper this morning, http://www.rockymounttelegram.com/news/slow-sales-close-prudential-franchise-276713.html, and saw that the local Prudential franchise, Prudential Ferrell Realty, has closed due to slow sales. The Prudential Ferrell Realty had offices in Rocky Mount and Tarboro.
The agents have been absorbed into the local Coldwell Banker and Century 21 franchises.
I want to extend my wish that all involved will recover and prosper in the near future.
Our local real estate market is suffering a perfect storm. The recession, a poor local economy, the credit crunch, constant bad news via news outlets, and low consumer confidence all combine to create a less than desirable environment.
Even though the government finally said we are in a recession this week we have all known this for some time. I hope our economy begins to recover sometime in 2009.
Locally we will continue to see agents take on part-time jobs, take full-time jobs waiting for better days, or simply leave real estate forever.
I continue to work real estate full-time. This is what I do and I'm good at it. I don't care how many hours I need to work, I will be here and available when people need to buy and/or sell. After all, there are always reasons why people need to move.
David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687
Copyright © 2008 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *Local Real Estate Firm Closes*
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