Is the Real Estate Market Up or Down?

By
Real Estate Sales Representative with Keller Williams Integrity Realty

REAL ESTATE MARKET:  UP or DOWN WHICH IS IT?

 

As a Realtor I seem to get asked this question from family, friends and of course Buyers and Sellers and guess what...it Depends!

 

Not the answer you are probably looking for is it?  Let's consider one factor though; Real Estate is local!  Real Estate ABC.com points this fact out in their July report.  I can go from Madison to Wausau and see a large difference in prices and the value of homes so why would we not think that our local economies on the market would be any different?

 

Another factor to consider is simply the price range that the home is in.  Homes below $140,000 seem to be moving yet ("Seller's Market"), there are still a number of buyers on the lookout.  When you shift into the higher ranges, the number of buyers decline so there are simply a larger surplus of homes (thus Buyers have more homes to choose from and it is a "Buyer's Market").  Money.CNN.com latest reports quote the National Association of Realtors on the "...buyer's market in housing..."  which just means that Sellers will have to be a bit more competitive in pricing their home.

 

The June report also discusses how nationally the market has shifted.  Shifted as I would define as "getting back to normal"; let's face it we've had an exceptional Real Estate Market for the past 4-5 years and home values just kept going up and up, but did your boss give you a raise to match? Probably not!  Our income and economy has to go up to meet where the home prices are now or (and here's the big AHA!) home prices need to come back down to meet peoples income...seems pretty simple.

 

So next time the evening news comes on and they are talking about the "Real Estate Bust", don't give into it and ask where! 

Comments (6)

Lorrie Ann Thomas
One Realty Group Edge - The Sanders Team - Woodstock, GA

Precisely what I was saying in my post,,, is it really a buyer's market, or a seller's market in some areas/price range???

I believe in some areas/price range it really seems to be a seller's market.

Jul 11, 2007 09:50 AM
Brad Andersohn
Executive Director of Education at eXp Realty - Fairfield, CA
ActiveBrad - 707.646.1876

Hi Nanette, I see this is your first post on Active Rain.  Congratulations!!  I just wanted to welcome you to our Real Estate Industry Network! 

Welcome aboard, I hope you'll continue to blog, and invite others.  Wishing you all the success this industry has to offer.

Enjoy!!

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Good Luck to you and your business!
Jul 11, 2007 10:00 AM
David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City
You are correct. Real Estate is a local business driven by local people. Your market may differ, but you should walk through a few dairy barns as I have.
Jul 11, 2007 10:06 AM
Earlene Myers
Fleming Island, FL
Your Client Connection
Nanette - Very nice post - well thought out and thought provoking.  Welcome to AR and hope you find it a good place to be!
Jul 11, 2007 11:01 AM
Anonymous
Nanette Plano
Thanks all for your review, I've been trying to get my blog started for some time and finally had the kick to do it so thanks for the insight as well, I will check into all that I can!
Jul 13, 2007 03:55 AM
#5
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Welcome back to ActiveRain!  

     I encourage you to take another look at the website.

     Leave a comment, post a Blog.
 
      Best to you!

Jun 18, 2015 11:11 AM