Home : Blogs : Monika McGillicuddy~REALTOR®~ N.H. Real Estate Broker & Trainer : New Hampshire Real Estate Sales and Training Blog

Oh... The Real Estate Market has been Frightful

Good Bye 2008

Without a doubt 2008 has been a frightful real estate year for many folks and I'm more than ready to say goodbye to it.

What a year it's been...the New Hampshire real estate market saw an increase in foreclosures which helped drive the market prices even lower.

Many home owners couldn't compete with the Bank owned homes and the days on the market increased dramatically. A storm brewed and simmered in New Hampshire and agents started to leave the business or take part time jobs just to help put food on the table.

Yes, 2008 has been a frightful real estate year and while many in New Hampshire suffered many others thrived.

Investors saw a Golden plum and started picking! Some home-buyers followed suit realizing that now is indeed the time to buy!

Even a recent NY Times article summed it up nicely. The article starts with these profound words.. "Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rear view mirror and realize that we missed a golden age for first-time home buyers."

Don't be one of those who look back and realize they missed a golden opportunity! Inventory is plentiful and homes prices are excellent all creating a perfect storm for home buyers.

Call us we'd love to be the REALTORS® that help you put the pieces to the puzzle together and get you in a home of your own in 2009.

If you're thinking about selling your southern NH home, please give us a call and let us show you our Unique Market Advantage Plan designed especially for our clients. Our custom plan will guide you through the process of selling your home from start to finish. It would be our honor....Jay and Monika at 603-548-7728

Posted by Monika McGillicuddy~REALTOR®~ N.H. Real Estate Broker & Trainer on 12/27/2008 01:05 PM

Comments (28)

Market Report in the Home Buying Channel

nh real estate market conditions, southern nh real estate, nh real estate sales

This post has been included in New Hampshire Information Rockingham County, NH Information
Post is included in group: REALTOR LIFE
Post is included in group: Posts to Localism
Post is included in group: New Hampshire - Real Estate and Life in The Granite State!
Post is included in group: Live Free or Die

28 Comments on Oh... The Real Estate Market has been Frightful

DEC

Monika, I really do think that 2009 will be a better year in many ways. I sure do hope so!

Monika - You said it well - Now is definitely the time to buy! :)

Moni, I hope you and Jay have a VERY prosperous 2009...maybe then you could come see me! :-)

Monika - just like Warren Buffett, when others are selling is the time to buy, and when others are buying is the time to sell. There are some wonderful opportunities out there now for buyers.

Pat...I'm with there... Here is to an awesome 2009!

Debi...Now lets get that message out.

Linda... I would love to come see you!!!

Sharon...How true!! Happy New Year!

DEC

I believe that 2009 will be a better year for Realtors, Sellers might still need to waite until 2010, since so many of our fellow agents have left the business. I believe that in NH we've probably lost 50% of the agents that use to be in the business. All we need is to have a slight increase in buyers coming into the market for the remaining agents to see business come there way.

Monika- I am very curious as to how this will all play out....and the people that are buying now, with the right circumstances will indeed be the winners :) May you and Jay have a good New Year.....

Monika, I hope you have a fantastic 2009! When you guys in Southern NH and Mass start selling homes our business in the second home and retirement markets up here in the Lakes Region takes off! So I am counting on you to lead the charge and get it going:) Best wishes for a prosperous New Year...

DEC

I totally agree with you, this is the time to BUY and the rates are also looking really attractive. I have always felt that the panic set something off that was not suppose to be. To all good things in 2009

Phyllis Pafumi

2008 was definitely a challenge and hard times for many. May 2009 be your best year ever.

I am always glad the year comes to an end and the opportunity to start a new each year but this year especially. I am so looking forward to 09 being a great year and currently developing the plan to make it happen.

This is a great time to buy a home! I'm thinking that this year could be a pretty decent year.

Hi Monika - 2008 was a challenging year for sure, in many ways.

Those buyers who are out there now, and have been out there, buying will certainly be the ones to reap the rewards in real estate. The combination of low prices, incredible interest rates and interesting negotiations make it a truly golden opportunity for those who are able to take advantage of this market.

Inventory in my areas in some segments is, and has been, quite low, and when the carries over into other segments, the pace will most assuredly pick back up. Those golden opportunities won't be around forever....

Ann

Hi Monika

Good Riddens to 2008!! Looking forward to a Happy, Healthy and Prosperous 2009.

Hi Monika, how are you? Congrats on getting a feature!

You are so true.....my slogan is, in 2009 let's make it shine!

You might like to listen to my radio show tomorrow where Todd Clark and I are going to talk about the 10 things agents can do to make 2009 shine. Tune in or listen to the recording if you can.

www.BlogTalkRadio.com/realestatetherapist

take care,

TD

Monika,

It was a bad year if you were on the wrong side of things. As you pointed out, some took advantage and this has been one of the best years on record.

No matter the market direction, it is always a bull market. All you have to do is figure out which way the bull is running and act accordingly.

I linked the NY times article to my homepage of my website a few weeks ago. It is definately a great time to invest in Real Estate.... Best wishes for 2009!

Hi Monika,

For those of us who survived in this business through the late 80's and early 90's, we know things will turn around for the better. We just hope we can survive until then. Up here in the Mount Washington Valley area we are hanging on by our thumbs. There are some good bargains available and plenty of nice places to look at and with interest rates at our local banks hovering around 5%+/- mortgages are certainly affordable. Ever the optomist, I also feel that 2009 will be a good year.

Monika, hang in there. It's been a difficult market but my partner and I managed to have our best year yet. Lots of hard work and some luck also.

Now that 08 is almost gone 09 could be marked as one of the greatest times in our history to buy a home. It is rare that you will ever find interest rates hitting record lows combines with such a consolidation in Real Estate values.

2009 will only be a better year for those that MAKE it a better year:)

Property values will continue to fall as houses with option ARM's start getting foreclosed on.

Unemployment will increase, which will also lead to more foreclosures as well as slowing purchases due to job uncertainty.

More people will just walk away from their homes as the stigmata of foreclosure continues to decrease.

If you think these facts are depressing, well them maybe this business isn't for you.

Despite all of this "doom & gloom", homes will continue to sell!

The question is, will you evolve to survive?

DEC

I thrive on chaos, destruction, and change.

Monika... I so agree with you. While things are bleak for many sellers, this is a golden age for buyers. Great rates with a massive inventory could make this a great time for buyers to jump into the market.

Hi Monika,

I agree with Mike Henderson. I thrive on chaos and change. 2008 has caused to me to refocus my priorities in my personal life, as well as my professional life. I'm excited for this year to come. May we all have a healthy and prosperous New Year. Thanks for the opportunity to verbalize these thoughts :-)

Frances Sanderson, Franklin, NH REALTOR®, Certified EcoBroker^®

Thank you all for the comments. I do think 2009 will be a better year than 2008 was and many people will start to take advantage of the excellent prices and start buying.

Happy New Yera everyone!

Chaos and Change... that 2008 certainly was. I must thrive in that as well!

DEC

I think things are going to be tough but REALTORS can make a good living...as long as they change some of their ways...with the ever changes of the market. Happy New Year Monika..love to you and Jay!

Midori you stated "I think things are going to be tough but REALTORS can make a good living" I agree things will be tough and REALTORS will still be able to make a living But I think they need to plan on making do with less. We'll need to tough it out and reduce our spending and over head. The money will be there just at a whole different level.

I'm looking forward to 2009... Happy New Year!

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?