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When is the Market going to rebound

By Jason Anderson

Mortgage and Lending with Wachovia Home Loans

June 28, 2007 08:15 AM

Can the people in this industry continue to hang on much longer. There are so many people in this industry who continue to hang to ride that next big wave. I personally dont feel this market will bounce back an time in the near future. There are so many questions that remain unanswered is there a conspirecey behind this all. Can the media try to put a positive spin on things instead of always being so negative.

My thought are that we will find a way to bounce bback but we all need to put our efforts in high gear during the tougher time of the industry as many of you know this is a very cyclical industry and will turn around but many of you cant afford to wait around till the cycle changes. I anticipate another 20% of the workforce in realtors and loan officers will drop off in quarter #2 after reports come out. By September we will have seen a 75% reduction in the workforce in IL and more companies will start to shut down opening up doors for thse that remain to have a good spring 08. So sta focused and kkep up the hard work and fight for all of those true mortgage and Real Estate professionals.

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Carolyn Shipp

Source 1 Real Estate - Mineral Wells, TX

Mineral Wells Texas Real Estate

We have been lucky here in my part of Texas. We have an oil and gas boom going on right now that is bringing in a lot of people. Although we have not seen a substantial increase in home buying and selling, we have been very stable and are noticing new housing and commercial building coming in. Our town is small but we are close enough to Ft. Worth that people are moving out here to get away from all of the hussle and bussle of a "big" city. People can still drive in to work in less than an hour or so and have all of the fun of living in a rural or country area.

The prognosis for our area is that we will see a noticeable change in two years, substantial change in five years and we may not recognize our town in ten years. I am looking forward to seeing this change and as we are now at the beginning, I only see success for our real estate agents in the future.

Jun 28, 2007 08:32 AM

Christy Avila

J and C Realty - Yucaipa, CA

I think eventually the market will rebound. I have found a part time job to fill in the slower times though.

Jun 28, 2007 08:32 AM

Becky Troutt

No longer practicing real estate as of 2008. - Bradenton, FL

The market will rebound. It always does. And those that don't feel like it will and leave the business, just make it easier for the rest of us that are hanging in there until it turns around to stay in the business.

I say thanks to them for giving up, cause when it turns, they are less people I have to compete with!!

The strong will survive and the weak will die.

Jun 28, 2007 08:51 AM

Marcus Valdez

Berkshire Hathaway Rocky Mountain Realtors - Fort Collins, CO

Money is made in ever kind of market condition. I just try to be happy and productive no matter what else is going on in the market. I actually prefer a down market. Makes it easier to invest for me.

Jun 28, 2007 09:22 AM

Valorie L. Easter

eXp Realty - Charlottesville, VA

Valorie Easter & Co, Charlottesville/Albemarle Rea

I predict starting in October we will see an upturn! It's really NOT that bad though............ Buyers are taking advantage of the soft market and if you can find buyers, you should be doing great!

Jun 28, 2007 09:42 AM

Linda Reynolds

Bradenton Real Estate - Linda Reynolds - Bradenton, FL

Bradenton Real Estate

I know it has been a tough 2 years here in Florida and I am not sure when it will pick up. The good news is the competition is dropping off so all those that got their license just to make a quick buck are going away. So when the market does turn, we are ready. I refuse to give up, this is what I want to do for a living and I will hang in there as long as it takes.

Jun 28, 2007 11:04 PM

Tammy Stone

Prudential Preferred Realtors - Grand Rapids, MI

"Eco-Green" Agent in West Michigan

We have the same issues in Michigan and I keep wondering the same things myself. If I go to some local chat rooms, the talk is about getting out of Michigan and where they want to move next. The media doesn't help either because they talk about the bad economy. I talk to several Realtors to see how their business is going and it makes me very nervous, especially the ones that have been in for awhile YET at the same time I try to be optimistic.

Jun 28, 2007 11:12 PM

Kate Bourland

Marketing with Kate - Redding, CA

Onlilne Marketing Mobile Marketing

Industry/Builder sources in California don't expect the market to rebound until 2009. Then there are the doomsdayers that say that we're headed for a depression in 2010. I think that we should just stay focused on what we can do and do it.

Jun 28, 2007 11:34 PM

J Perrin Cornell

Coldwell Banker Cascade Real Estate - Wenatchee, WA

Broker, ABR, VAMRES

It goes up...it goes down. But the sun will come up tomorrow...regardless of the gloom and doomers. A good business plan, good referral network and hard work you can make money in the bad times and really make money in the good times. Not a fast buck, not a short range proposal. It is a profession, and a darn good one!

Jun 29, 2007 01:05 AM

Dominick Gaccino

Dominick gaccino - Peekskill, NY

who knows

i would say by next spring

then again i said that last year as well

Jun 29, 2007 01:07 AM

Erol Kartal

Schaumburg, IL

I remeber when I was broker in Chicago and rates were 16%! I thought it was the end of the world. Well I left the biz and then the market soared. I'm a home inspector now, but my experience has taught me that there is always a rebound around the corner.

Home Inspector Chicago Suburbs

Jul 11, 2007 01:57 PM

Arina Hanciulescu

RealtyPros - Las Vegas, NV

RealtyPros

It is the same in Las Vegas... Sellings are way down and the Short Sales way up. Trying hard to survive as I am in the real estate workforce only for the past 2 years!!!

Soon I'll need an other job to pay my bills.

Jul 15, 2007 09:53 AM

Scott Dovala

Ascent Home Loans - Santa Rosa, CA

Santa Rosa Mortgage and Home Loans

Whether one decides to stay in this market full time or part time, now is the time to build your network. Sure even some of your new business contacts may drop out as well, but the ones who remain, will remember you were there standing right beside them through these tough times.

Jul 15, 2007 10:35 AM

Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I hope the market will bounce back. Some people who were thinking of buying have decided to rent for another year. Some sellers who had listed have decided to rent the house out for a year.

Jul 15, 2007 10:45 PM

Arina Hanciulescu

RealtyPros - Las Vegas, NV

RealtyPros

I don't think anyone has the answer to that. Who knows. Trying to stay positive but it is hard.

Aug 02, 2007 06:05 PM

Dionne Morgan

Realty World Solano Realty - Vallejo, CA

Broker REALTOR ,GRI, e-PRO

There are some serious economic factors effecting us that have absolutely nothing to do with our housing market. We are not the only industry impacted we are just more visible and of course homes are major investment.

Aug 02, 2007 06:44 PM

Anonymous

Alicia Fry

ILL, No matter what Kind of market it is today People need housing. I still get the 7% listings while other co. in the area are folding with the market and working harder now for less. I will not fold! I work hard for my money and i will hold on and keep working. the market will get better. IT was not that long ago when intrest rates were @19% and people still were selling and buying.

Mar 23, 2008 12:11 PM

#17

Doug Fritchie

DOUG FRITCHIE-Silver Legacy Properties,Inc. - Portland, OR

It will come...the News Media just needs to find another "Dead Horse" to beat !

Mar 23, 2008 12:13 PM

Kurt Scharfe

Charles Rutenberg Realty - Lockport, IL

Yes, I agree what you say about the media. I think they love this because they want a Democrat in the White house.The truth is the market may be soft now, but with the lower prices and lower interest rates, it could be good this summer. The last month or so, I have seen the for sale signs, some longer than a year, being "sold". I am relatively new as a realtor, but I plan on hanging in there.

Jun 06, 2008 01:34 PM

Kimberly Underwood Kostescu

Coldwell Banker Crampsie Realty - Windsor, ON

I believe the market will rebound, of course it will. However, I have no crystal ball as to when. My own prediction is that it won't be until this time next year, atleast 6 months into the new American's Presidency. However, I know one thing, that as far as Salespersons go, the best will be left standing!

Kimberly

Jun 06, 2008 03:07 PM