Our First Blog entry.

By
Real Estate Agent with Century 21 Cedarcrest Realty

We never did this before, but are reading that more and more real estate agents are getting involved, so we thought we'd give it a try.  We've been selling real estate for about 15 years and prior to that remember the huge interest rates some years ago.  What we don't ever remember is the media blitz scaring everyone in the  country out of the buying and selling of homes.  There's always been ups and downs in real estate and there still have been buyers and sellers.

We live in Bloomfield New Jersey but cover areas that are within 50 miles of Manhattan.  People are still buying and selling properties here, even though it's a buyer's market.  More buyer's have to stage their homes and list them at attractive prices -- doing this -- there are still buyers out there -- it's just that more have to have better credit.

What's the story in the rest of the country -- are you all doing business?

And if you're a potential buyer and/or seller, what are you're thoughts on this subject? 

 

   

Comments (5)

Steve Turkstra
Family Home Inspections by Steve - Holland, MI
I am in Holland Michigan and the market here is a little soft. Prices are lower than they were the last couple of years. The number of homes sold is down last month about 18% with prices going up about 5%. The number of foreclosures is constantly going up. There are some deals out there but finding people willing to buy is getting harder all the time. Hopefully lower interest rates and a few good jobs here will help the market will turn around.
Aug 22, 2007 06:43 AM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Joseph and Gail,

First of all welcome to Active Rain, nice post! There is lots of great information that's shared here among real estate professionals.

Glad to hear things are still moving in your area, mine too, yet conditions similiar to yours. Great condition, well staged and priced in the bottom 20% to get the properties moved.  I've been telling my sellers "You can price it to sit, if you price it along with your competition, or you can price it to sell, get ahead of pack and price it more agressively."

I've lived through the 17%-18% markets on first trust deeds (early mid-80's) and we're not even close this time around. Those who are knowledgable, hard working and put their clients interests first, will make it.

Good luck and see your around the rain!

 

Aug 22, 2007 06:57 AM
Donna Graham
AZ New Horizon Realty - Casa Grande, AZ
Casa Grande Real Estate Agent

Welcome to Active Rain.  I recently joined a few weeks ago.  I learn something new all the time.  I'm in Arizona and the market is slow.  There are still some buyers out there you just have to know how to keep them.  I love real estate and the challenge and rewards it brings.

 

 

Aug 22, 2007 07:20 AM
Gareth Bourriague
Benchmark Mortgage of Louisiana - Baton Rouge, LA
Benchmark Mortgage
Welcome and congrats on your first post!
Aug 22, 2007 07:21 AM
Anonymous
Steve, Gareth, Donna and Lynda

Thanks for all of the nice comments and encouragement.  Our area is off somewhat, but as an office in Caldwell, NJ -- we still are doing more business than any of our competition. 

I guess what irritates us about this adjustable mortgage business is that the "bankers" turned a blind eye to what any mortgage brokers were "not saying" to their customers.  Just trying to get the sale and not really being honest about the problems they were facing later.  This has been happening to both "ignorant and smart" people alike.  Brokers just skimmed over what the percent increase over prime that the lenders would actually charge.  If they were more direct, many people wouldn't have taken out those loans -- or at least would have gone into it with their eyes open.

That's what's scaring a lot of buyers, they keep looking and looking -- hoping that the next best bargain is the house they're going to see next week, or next month. ---  But sometimes it works to our advantage, we just had a call from a potential customer who originally didn't want to buy for 2 years -- and now they want to look over the weekend. 

Keep in touch people!! 

 

 

Aug 22, 2007 07:44 AM
#5