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Signs The Real Estate Market is Not All Bad

There are signs the real estate market is not all bad.

The newspaper is not giving you that message. It almost appears the new media is determined influence the real estate market rather than report on it.

In the last few weeks I am seeing signs of things picking up in many of the communities I service. I am getting more showings on my listings and have several buyers who were waiting in the wings now actively looking for a new home.

Last week I submitted offers on two different condos for a buyer. In both cases we were in a multiple offer situation. It has been a long time since I saw the same client have that happen twice.

One of my buyers sent me a list of six properties they were interested in. Three of them went into escrow last week. That is definitely a sign of things picking up.

With interest rates at these low levels many buyers who were sitting in the wings are now actively looking for a new home. Some sellers are recognizing a window of opportunity and are prepping their homes to get them on the market. If you are not buying or selling a home you may be refinancing one. I am definitely seeing an increase in activity since the first of the year.

Over the next few months a large number of military troops will be returning from deployment in Iraq and Afghanistan. They will increase the demand for housing in our area. I will not predict what the median price of a home will be a year from now or if you home will gain or lose value in the next 3 months. I will predict one thing though. The news media will be the last to report when something positive happens in our real estate market.

Posted by Randy L. Prothero - Hawaii REALTOR® on 01/25/2009 05:04 PM

Comments (95)

Improving Market Conditions in the Real Estate Market Channel

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95 Comments on Signs The Real Estate Market is Not All Bad

JAN

That is GREAT NEWS!!! In the Seattle area we are also experiencing more activity. I have more than 3 buyers in various stages of finding their next home and several new listings coming up within the next couple of weeks. It feels as if everyone was holding their breath until Jan 01, 2009 and then all at once they exhaled. Keep it coming!

Hi Randy! Tweet tweet! Wait until the press and the bloggers out there get into a big cat fight!! Meow.

Randy - I like the way you put that.

Susie - Without the bloggers we might never get a true picture of what is happening out there.

Randy, Good positive post. Glad that the market is picking up for a lot of us.

It is now up to us to let everyone know the good news. We have to be our own news media!

Business really has picked up in the last week here.

You are so right

Congrats, Randy, and thanks for the good news. Perhaps some of you business will blow our way!

Margaret - We need to do it, because the news media won't.

Janice - Happy to hear.

Linda - Thank you

I see a slight increas, but that is at least better than going the other way again.

Kris - Hopefully the low interest rates will be the needed push to get it going in your area.

William - It was never as bad here as other parts of the country, but we were feeling it tighten especially towards the end of the year. I am glad to see it picking up again.

There has been a pick up in our market too. I wouldn't say prices are going up but well priced homes are selling quickly.

I definitely see an increase. The home I listed yesterday has shown twice yesterday and three times...so far...today.

VERY well said. I am seeing the same thing here in Atlanta.

... I love the last sentence of your post. So true.

The same thing is true in the Tucson, Az area. Smart buyers are out there.

Randy.... don't we know by now that the media is our enemy. They report what they want when they want. Yes, I have seen activity up all over, from CT to FL. Forget about the refinances, that shouldn't be talked about in the news. That doesn't turn over inventory or spark the economy the way we need it to happen. Thanks

jeff belonger

Randy, I've banned the all-news channels from my TV! It's nice to hear good news wherever we can get it!

Randy, that is so true. The media loves doom and gloom.

Nice to see that your market is starting to pick up. That is the start of positivity. It's like a snowball rolling down a mountain when the market does turn.

Great Post. You have a super awesome attitude and can always tell you put time into your post.

For anyone, if you want to check your Google rank, we now have Rank Check Tool on our site.

Up and down each week in Austin. Week one in Jan was great...then 10 flat days....then a sudden burst this week. No consistency. Hopefully Obamanism will create a flicker of hope out there that will snow ball. Today was the best day of the month, for whatever that means. A bit over $2mm in listings this month.....but is that good or bad. I am hoping good. We will see...

Nice Randy ! ... it's been busy in NJ too for many of us ...all the best for continued momentum !

Sheldon

Randy - It is great to hear such good news. This is the type of news that won't make the front page or evening news.

Randy - well said... it is great being on the pulse of the market. You are right, by the time the media reports the "bottom" , the bottom would have already been hit in many local markets. We also have a mulitple offer situation on a condo that we are listing and a lot of activity on our listings this past weekend. Buyer traffic has picked up on our sites too week to week since late December.

I am seeing seasonal activity that normally comes with the new year. I feel however the jobs market is not going to be a plus for the housing market in general. I am more pessimistic for all of 2009 than you but that is what I see and feel.

Randy, you are so right....the news media WILL be the last to report when the market does turn. I specialized in new construction before the market crashed and I feel like my market has been down since 2006, but the media didn't pick up on it until we were well into the downturn. You can bet they'll be slow to respond on the upturn. We've seen increased activity in the Springfield, MO, market for the past couple of weeks. Feels so good to be so tired again. :) Great post.

I have also been seening more showing activity than in years past on my lisings. Also, buyers are out there looking but a lot are still thinking about taking the final step. Sounds like other areas are seeing the same thing.

We are seeing a large increase in buyers and showings on our listings since beginning of the year. I was also positively shocked last week when I heard local news saying that Denver market was doing pretty well + positive news WHOA! ~Rita

Hi Randy, great news! I know that things have been picking up on the east coast of Central Florida, even during the holidays. Much more activity, who better to report than those of us on the front line!

You are so right. All that I am reading here on Active Rain from the real professional sources is saying that things are picking up...

AMEN

Randy I am not even going to comment any further, because you said it all when you made this statement "It almost appears the new media is determined influence the real estate market rather than report on it."

Hi Randy,

In Monmouth County, NJ we to are seeing a pick-up. Just put in an offer for a buyer on a condo that had been on the market for over 1 year and we are now in a bidding war - signs of good things to come we hope. Thanks for the great post.

Randy - well I have to say I have seen the same thing (with a buinch of new buyer inquires and folks actively looking), as have others I have spoken with. Have seen a few posts here as well. Do you think the media will get the message or are they having too much fun reporting negativity. COngrats on your expanding business. Here's hoping it continues in a big way.

Jeff

I hope we start to see more and more signs of positive movement in the real estate market. In So. New Hampshire, buyers are very fearful of "announced" job cuts to come! That certianly is BAD news.

Hi Randy-It's good to hear that things are picking up for your area. I should be writing an offer on a lakehome this week, and we have 2 customers looking at the same lakefront lot all of a sudden. What's great is that it is our lot and we really need to sell it. I feel like there is some expanding demand no matter what the media says. Best wishes for your success.

Randy, I am so glad to hear that things are picking up with you. We have seen the market picking up here for this month it has been busy and we are showing more properties and getting more calls. We have been blessed here that things didn't slow down as much here as other areas. I feel that for the posts on Active Rain that things are starting to get better in lots of places. The rates are still good and people are looking to see what is available and get in a home while the rates are low. I hope it continues to be busy for you. I'll watch for more posts from you with updates.

Randy,

I don't doubt that activity is picking up since the first of the year, now that the holidays are behind us.

But in order for the media to report on something there must be some actual news, not just anecdotal stories.

Maybe tomorrow will be a good day for the existing home sales report - that would be something the media could stick a fork in and write about. :)

I'm definetly seeing more activity. The condos building I have listed has had 4 new contracts this month. I will have had four settlements in January and already have two on the books for Feb and one for March. Activity level has been high at my listings and I hope that offers start arriving soon!

I know that as far as leads go, we're getting tremendous activity. Just today there had to have been 25 web leads that I was alerted to. People are apparently looking.

Randy- That is why Twitter is becoming the source of breaking news and people are going to the blogs for their news, and why newspapers are closing, shutting down. DO you think they will ever get a clue?

It almost appears the new media is determined influence the real estate market rather than report on it.

This comment should be engraved at the top of every major media portal and on the top of every print media. You have summed up our media on one sentence. Their desire to influence is not limited to real estate, but they definitely will not be reporting on the pick up.

We are also seeing increased activity our way. We have 10,000 troops moving down from Brunswick ME in the next few years, 3,000 this year. We have experienced multiple offers on one of our listings and activity is picking up. We have picked up 5 new buyers this month. It's wonderful!

Randy.. If one listened to the media.. everything is doom and gloom.... Our market is doing well too.

Love the + post!! Yes, even on a cloudy day, if we fly high enough we'll encounter blue skies!! The market is great for investors in some parts of the Houston area, and other neighborhoods have maintained property values just fine!!

I have had a number of buyers come off the fence and enter the market in the last couple of weeks. Definitely a good way to start the year!

Randy- thanks for sharing the good news about low mortgage rates and the housing market! Glad things are picking up for you! It's a great time for the right buyers, that's for sure!

Randy, I am experience the same thing with my REO listings. It appears there are buyers out there if the price is right.

A positive is better than the alternative. Keep up the great work...stay positive.

Randy - Thanks for sharing the great news. I sure hope we see a similar uptick in our area - of course we don't have quite the same draw or military presence, but we'll take what we can get.

Randy,

I agree! Lucky for us we are also in a military market and are seeing movement with the troops. We had a slow November and December but that is normal for the holidays. I cant even watch the news anymore because all I see is doom and gloom. I tend to rely on what is going on in our area on a daily basis and not feed into the negativity. We are still steady and strong. We even started our own company! Are you by an Army base? I'll keep you in mind when we have someone headed your way. Thanks for the upbeat blog!

Aloha... I'm glad things are good there. Things are also great in League City, TX. If this is bad, I can't wait to see what a good is all about.

I agree it seems that the strong buyers are coming out of hiding. I am also here on Oahu so lets hope it continues..

I have been seeing multiple offer situations on lower and/or well priced homes for several months now.

JAN

Randy- Nothing beats watching the market and analysing it for ourselves. After all, we are the ones in the trenches. You know your own market best.

Our brokerage here in northern Utah had 7 offers accepted last Monday the 19th, and I have 2 more coming in tomorrow. I think we are going to see a better year in 2009.

"The news media will be the last to report when something positive happens in our real estate market." Now that is the truth and then some! Great post and glad to hear that your market activity is picking up. Take care and happy blogging!

How much equity has been lost??

I love your positivity, it is really infectious! I too have seen an increase in interest, and even showed one of my listings to a qualified buyer that liked it and said he is going to write in a couple of days!

And I too reported on an increase of activity here in the Mid West. Yippiee!

Randy: NICE post. You know, the MEDIA has been killing business for two years now. I, for one, am beginning to see a change (quite a bit because of AR). I'm not busting my buns busy, but I am showing quite a bit of property and keeping an escrow or two going....I say that is a GOOD sign!

Randy,

I agree...I just got a contract on one of my listings that was around a long time and possibly another that's been dead in the water...also picked up 5 listings in the last 2 weeks and hopefully they'll start rolling out with offers.

Randy,

We've been seeing the same thing for almost a year in the Ventura real estate market. Multiple offers are the norm and sooner or later the inventory will deplete. I advise all my buyers to write offers on more than one property so they don't lose out while waiting for the banks to review their offers as most of the listings are REOs or short pays.

Definitly picking up here. Three contracts recently ratified, expecting another ratification today. Wrote on a Foreclosure last week and we were one of five offers on it.

Randy,

We're in luck.

As I had commented earlier about existing home sales, they did come in better than most people thought - and as a result we have some good news today about housing - I even wrote about it too. :)

Yeah! Good news for a change. Keep it up.

Unfortunately people still get their "facts" from the news media...but you are right...It is not all bad!

Go Hawaii! Go Randy! Perhaps the real estate winds will blow due east, I know Cleveland, Ohio could sure use it!

Hi Randy;

Great post! I agree with you that the housing market is showing positive signs with more activities.

The market definitely picked up here in the late summer/fall, and we are seeing a lot of activity again this month. I think spring is going to be fabulous compared to the last couple of years. Interest rates can't go much lower. Now, if we can just get the banks to ease up a little on their borrower criteria and lend the money they received in the bailout, we'll have this market up and running again:)

Excellent post. I just posted similar news for North Florida. Maybe we are turning the corner!

JAN

Optimisim here in Vancouver as well...4 deals in the about a week a and a half is a good start to the year.

JAN

Jessica W. - Our county actually had a slight median price increase for single family homes in December.

Sally - I have an offer coming in today on one of my listings that had been on the market for a few months.

Kerry L. - I am hearing the same from several parts of the country.

Richard L. - I agree

Jeff B. - True, but the refinances will help stabilize some of the shaky loans.

Patricia K. - It is a shame when the news is no longer the news.

Team K. - They are like ghouls.

Mike H. - I hope the snowball is at the top of the hill. :)

Todd A. - I use that tool. Thanks for sharing it with the group.

Tim M. - Listings are good, sales are better. I hope we read about all of the closings in a month or two.

Sheldon M. - Thank you, good luck.

Jennifer F. - It won't even make the inside of the paper in most cases.

Michael K. - At least from what I am seeing that is the case.

Jeff & Lisa - :)

George - That was sure true during the elections also.

Roshan Q. - At least in the short term. Hopefully it will continue.

Jeff D. - I hope the news media figures it out and stops trying to scare everyone.

Joan W. - Job cuts will really hurt some communities. No getting around that.

Scott B. - Isn't that amazing how they all decide to move on the same place at the same time.

Marie G. - If the interest rates can stay low or even drop a little more we should see it stay this way for a while anyway.

Mark M. - Single family median homes prices went up in my county in December over the 2007 levels. Our headline on the newspaper stated that home values were going to drop 30+ percent. They got that from a mainland website that was not even referencing our market.

Christopher and Stephanie - Congrats on the multiple offers.

Eric B. - I think our economy in Hawaii may have already hit bottom, which was not near as bad as other places.

Lina R. - I was in your town in November. Had to hit the Pro Bass Shop while in the area.

Linda B. - I have gotten so busy the last couple of weeks; I have had next to no time to go on Active Rain.

Rita - Wow that is amazing.

Denise S. - That is what we are doing. Happy to hear about Florida.

Cindy J. - I sounds like things are picking up by you too.

Jeff G. - Good luck on converting them.

Nester & Katrina - Our local news does no investigative reporting. I think it may be too late for them.

Frank & Sharon - That is great to hear.

Roland W. - ditto

Sonja P. - You are right. There is always something positive for someone in every environment.

Morgan E. - I hope it continues.

JB M - It does seem that way.

Julie B. - I am not working the REOs or short sales that much, so I cannot speak on those in my county.

Terri S. - You cannot head in a positive direction without a positive attitude.

Lynn J. - The military presence sure has an impact on us. I focus a large percentage of my business on military so it has a bigger impact on me than many or agents.

Tara - I am surrounded by bases and stations from all branches of the service.

Kat D. - Some of it was to influence the elections. Now that they are over, hopefully they will knock it off now that the elections are over.

Neal B. - Congratulations!

Lynn K. - The REOs and short sales are such a pain in the neck, I dread them.

Brian W. - They will only report the good if it meets some other agenda.

Michael W. - I am receiving an offer today for a listing and submitting one for a buyer. I am definitely seeing things picking up.

Christine - I am just starting to see them again. Sounds like you folks were picking up before us.

Eloise G. - I agree completely.

Lisa U. - Congratulations on the offers.

Jason N. - Thank you.

Jason N. - In some areas none and in others as much as 15 or 20%% from the peak. Some areas have had increases here.

Caren W. - Interest has increased for sure at least in my area.

Evelyn J. - That is good.

Brien B. - 5 offers is saying something about the market.

Mark M. - Great to hear.

Marian G. - Thank you.

Gary W. - I hear too many inexperienced agents running around repeating the news stories instead of doing their own market analysis.

Chris O. - I will try to send some over. :)

Anthony S. - Thank you.

Sherry C. - Hopefully the rates stay low.

Michael L. - Thank you, good luck.

Scott L. - Congratulations

FEB

That's great news! We're so lucky to be selling homes in Hawaii aren't we? Things are picking up for me too.

Georgina - I am expecting it to get pretty hot in my area. The new tax credit they are proposing in the bailout bill will have a big impact if it passes.

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