This is a nice discussion that was generated by Mirela Monte.
She's requesting basic numberical market data from around the country.
Your contribution will create a snapshot that could provide insight into the nation's housing situation from both a micro and macro level.
I urge you to add your observations.
Via
Mirela Monte, Your Myrtle Beach Connection:
How is your market today?
Generalizations don't work. We get enough bad news from the media. Our politicians don't seem to understand the Reality and Ramifications of Real Estate Activity either. We are fractioned and confused.
Let's change all that! Let's get together and create our own accurate data. Here is my proposal: Let's answer the following questions on a monthly basis. We can create our own Real Estate Forum and measure the Real Estate temperature of various areas. These questions will help you understand your own, unique market and allow the rest of us to have a better overall picture of what is happening and how it compares to our neck of the woods (or strip of sand as in my case):
•1. How many properties do you have for sale in your MLS?
•2. How does that figure compare with last year's and the year before?
•3. What is the sales activity per month on single family homes, condos, multi-family, land and commercial?
•4. What is the absorption rate for all of the above?
•5. How does that compare with last year and the year before?
•6. How do January's sales figures compare with January of last year? How does that compare with November and December of last year?
•7. What is the best selling product in your market? What is the worst selling product? Why?
•8. How much of your market is foreclosure related? How many foreclosures have occurred in your market in January and February?
•9. What are your observations on local financing?
•10. What are your observations on local appraisals?
•11. What is the best advice you would give a Buyer in your market?
•12. What is the best advice you would give a Seller in your market?
Please indicate if you intend to participate to this Forum. Over the next few days please compile your data and post it as a comment here. I will then copy and paste your statistics into a new blog I will be posting over the next few weeks. With proper participation, I will continue to post these same questions every 30 days and compile monthly data based on your responses. Please let me know what you think of this!
;)
;)
sounds like a good idea Chuck - I'll get her our stats for the Raleigh market too.