When Realtors start buying property

By
Real Estate Broker/Owner with Publicover Realty Group, inc BK3013613

When Realtors start buying property, that's when you know the market has leveled off and the prices have pretty much hit the bottom. That's what I'm starting to see as a positive trend in my market area.

Lots of showing to Realtors looking for themselves.

The problem then is many will attempt to flip the purchase at a much higher, It's always a Realtor that can't price his own property reasonably.

The bottom line is more selling activity....that's good for the industry as a whole.

Comments (4)

Jason Smith
Crye-Leike Realtors - Fayetteville, AR

Sounds logical.  Seems that many realtors would love to buy but aren't selling enough to qualify for a loan!  God help us!  

Thanks for posting!

Jason

Jan 14, 2011 02:20 PM
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI Real Adventures

Bob, that does sound like a sign of improvement.  Overall activity should be picking up also and the cash investors are also probably flooding the area as they are even doing here in the Detroit Metro Area

Jan 14, 2011 02:24 PM
Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
#ChandlerRealEstateAgent

With the interest rates where they are, I am planning to do some MORE buying myself!  I got a few properties in '08 and as I was paying the mortgages today, I was just looking at my investor interest rates of 7% ... ouch!  Can do so much better today!

Jan 14, 2011 02:29 PM
Bob Publicover
Publicover Realty Group, inc - Stuart, FL
Thinking outside the box

7%!! Yes that is a bit high, However, We may see those rates again as many of the economic indicators are pointing in that direction. The effects of that will hurt  or even eliminate many buyers with low down payments.

Jan 14, 2011 11:19 PM