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Being cautiously optimistic
has become the 'trend' for those of us remaining in this turbulent
market. Sometimes the news is so negative that we have to go
a bit overboard to 'prove' that there 
;)
;)
;)
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30 Comments on Good News for Housing Market
Debe, will do. I'll just use my local stats in place of yours if that's okay.
We need some good news in Real Estate. Hopefully next year,we will get more buyers to buy. With interest rates at 5%,this is a great time to buy. Thanks for sharing. Have a great day.
That will be great. At least there is some hope
Lauren: Ditto! I'm ALL about the GOOD news!
Kelly: I'm right there with you--however, I tend to dismiss those opinions when the 'expert' tends to always be negative. Otherwise, I try to read between the lines and compare them to my own stats! One thing is for sure--our jobs are WAY harder than they normally are with all of the data compilation we're having to do in conjunction with our normal business tasks!
Heather: Absolutely--that is fine!
Lanre: Isn't that the truth! I think the interest rates are going to help, for sure!
Judy: There's always a light at the end of the tunnel--I'm just hoping that tunnel is shorter than it was 6 months ago!!
Great blog! There are varing opinions but there are also varing markets around the country. It's up to us to help build consumer confidence..prices of homes and interest rates are down buyers should be buying and many are! Thanks for sharing!
Hi Dorie: Yes, there are SO many opinions--like belly buttons, we all have one! But, like you, I feel that the best thing to do is preach the positive in the hopes of building consumer confidence which is going to help turn this thing around, I feel. Thanks for stopping by!
Debe, nice post...I really like hearing the updates that are positive.
Debe;
It's always great to hear from someone with a positive attitude. Even if the projections you mentioned don't come to pass, your words are a ray of sunshine in an all too common gray sky.
Debe, that is exactly what we need, good news....! Optimism, excitment about the future, positive attitude and contagious energy, we can all pull together and benefit by having our clients make more money down the road by helping them buy now. Good Timing headline Debe, Merry Christmas!
Good news for the New Year. I am trying to carve some time to send an email to my SOI with this type of information. Sometimes a friendly email update is all it takes to get someone moving to buy a house. I have a closing tomorrow (please cross your fingers for me - it's been a very trying couple of days and it's not over yet!) where the buyers locked in a rate of 4.85 or something close. Awesome for them! Happy Holidays.
Unknown: Thank you and I love the positive too!
Thanks Larry! I'm hoping that, at least, part of it is on the money!
Antonio & Alexia: Thanks--we need consumer confidence back again, that's for sure!
Kelsey: Best of luck tomorrow with your Closing! It seems that those tough final days seem to be more the norm than before but, they're getting them done--be patient; it WILL happen! I just called for a review today and found it to be 4.875 too! I was thrilled for the clients. See? It's NOT all bad and the lenders ARE lending money--contrary to popular belief!
Merry Christmas to ALL! Here's to a prosperous New Year as well!
Good news indeed. Now if we could get the media to report fairly with comprehensive, critical analysis instead of sensationalized headlines, we might stand a chance.
But given the track record of "mainstream" media, I won't hold my breath.
I'm glad all of you realtors are so happy about the "Good News". But did you really analyze the words used. Let's break it down "Economists believe that the market may be in recovery mode by the end of the second quarter of 2009"
This tells me that they have a belief that we may, not will, be in recovery mode (does this mean, are we getting ready to recover or what), it sure doesn't mean recovery in six months. I believe in the tooth fairy, Santa Claus and the Easter Bunny as well, doesn't make them real.
Unless something is done to address the very real problem that we have 12 million households in the country where they owe more than their homes are worth, we aren't going to stop the foreclosures and short sales. And unless they are stopped, we are going to have never ending foreclosures, supplying millions of REO properties and a continued downward spiral for home prices.
Lowering interest rates is not the answer, it's part of what got us into this mess in the first place. Home inventory and prices need to stabilize where income can support the payments. And loan mods that provide a temporary rate reduction don't work either.
Wake up people, take off your rose colored glasses and face reality. Debe, I think you went way overboard to find something positive. The market sucks.
Debe: Nice post. I too think the recovery will start in the 2nd quarter of 2009.. This is an election year and people tend to hold their purse close in election years. Like your area, our prices never escalated like many, but it goes back to supply and demand. With interest rates at all time lows I am of the opinion that the buyers will start buying. The floodgates opened just last week for the re-fi's that have already began from the low interest rates. Postive thinking, education, self promotion along with A/R will help the members to turn this market around. Yes, we still will have to do what successful Realtors should be doing anyway. Happy Holidays to you and Ray!
To Underwater:
Yes, like the outlook you've presented, the market does suck. Doesn't mean its going to from here on out. Psychology plays a bigger part than reality.
Having said that, I subscribe to a couple of very contrarian investment reports and they've been pooh-poohing the "sunshine" that's been sold for the past 12 months. Their recommendations have made a boat load of money in riding the markets down. Now they've changed their tune and have start issueing "buy" recommendations in key market sectors.
Analysis has shown that the stock market floor of about 8000 pts has held on several attemps to break it. Trend analisys and volatility metrics have stablized.
So yes, there seems to be real indications we've hit bottom. However, being a commodities trader, it could be a false positive. You never know until after the fact.
One more item. Just because someone is upside-down in their homes doesn't mean they will dump it or go bankrupt. Yes, we have alt-A and 5 year ARMs coming up, and the Credit Card crisis and the confidence factor, so there is a very real possiblity that this could really tank.
However, saying "this market sucks" accomplishes what? How can we benefit from that knowledge? Any successful investor needs market movement, not direction. So as long as the markets are headed somewhere, smart money will profit from that movement.
Mike: That's SO true! The funny thing--all of these came from the media and in the interview on CNBC, many more positive comments were actually made than I wrote! I was pleasantly surprised.
Underwater in Buckeye: Not to sound negative but, it appears that your glass is half-empty--with your negative name and negative comments, it's no wonder that you view the market as so horrible. Perhaps your area is different than ours? Perhaps your attitude could be amended to stive for success and you will achieve it?
If you listened to the interview or read the articles, you would definitely NOT look at this recent news as negative. Also, when you shave one month off of your market absorption (NOT add to it), your market is improving, not 'sucking.'
I heard speculation that our market (not the national market, OUR market) was turning downwards in early summer of '07. I immediately ramped up my marketing and began tweaking my business model. With each and every month, I strategize the upcoming month's plans (NOT year's) and keep statistics on a daily basis. Perhaps that could be the reason that my NET income has more than doubled in 2008--and I still have Closings yet to go this month. Granted, I've worked twice as hard this year and spent more money than in previous years but, I was NOT going to approach my game plan with a half-empty glass.
Had I let my attitude go in that direction, I would have simply closed up shop and gone back into nursing. Believe me, it would have been FAR easier and MUCH less work!
Hi Dona: Thanks and yes, success is achieved when we do what we need to do for our business. It is my opinion that my clients (both past, current and potential) need to gain some confidence back and EVERY four years, we have this lull. This year, obviously, has been much different and a much longer lull but, to be successful, we must overcome the negatives and focus on the positives! Merry Christmas to you and yours too! Here's to a wildly successful 2009!
Hi Mike: You are realistically optimistic, aren't you?! I tend to have to be pulled down from my positive podium at times but, I also know that negativity doesn't get you anywhere in life.
I choose to learn the numbers, study the numbers and attack my business model WITH those numbers! For instance--right now, I'm selling alot of investment properties--there are alot of folks that can't get mortgages out there because they have homes to sell in their exit cities. So the rental market is strong. I don't want to be a property manager so, I have partnered with one to assist my investor clients with managing their newly purchased properties. My investors are not my old-style of investors either--they are primary residence owners ONLY--who are tired of the volitility in the stock market and decided to put their savings into real estate! I have to count on my property manager partner to guide me with the rental rates so that I can assist my investor clients achieve that positive cash flow that they're looking for.
Not only is that helping the market rebound with Closings on some of these first-time sellers homes (so that they can move up and the snowball effect begins) but, they're bringing back that 'lost' consumer confidence!
Thanks for your comment, Mike!
Debe,
I am glad to hear some positive news hitting the media for a change. I am getting excited about our local market and can hardly wait to do the year end report comparing it to 2007. I think that we are about ready to make the turn and things are going to start looking up.
Debe, Thanks for the good news. Other things I've looked at also indicate that 2009 will be the turn around year for NC. That means all those buyers waiting for the bottom it's time to step up and the rates are great too.
Hi Don! That's what I'm hearing and believe me, holding onto!! The best for you in 2009, Mr. President!
Kathryn: You're welcome! I feel like those buyers are already starting to step up and they are smart to do so--these interest rates aren't going to stay this low forever!