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Is the Real Estate market really as bad as they say?

By William Feela

Real Estate Broker/Owner with WHISPERING PINES REALTY 20398180

March 25, 2011 12:21 PM

This is a WIDE open question. The answer is something like this.

Every area is different. It depends on the available jobs, the need and want, the number of homes for sale at the time and a host of other things.

I have seen communities that have nothing going on, but 10 miles down the road business is good.

Today, I wrote an offer on a foreclosure. Needed a good amount of work and was price a bit High I thought.

We ended up being one of six offers. We were 10% above list and we ended up being 3rd in line. 2 others had out bid us.

This is the 3rd of 4 offers that have been multiple in the last 4-5 weeks.

So, is the market as bad as they say...you decide!

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Tish Lloyd

BlueCoast Realty Corporation - Wilmington, NC

Broker - Wilmington NC and Surrounding Beaches

William ~ See, my goal is to be one of those participating Brokers writing one of those multiple offers!!!!

Mar 25, 2011 12:49 PM

Richard Weisser

Richard Weisser Realty - Newnan, GA

Richard Weisser Retired Real Estate Professional

Bill...

I think that sometimes people just get caught up in foreclosure fever!

Mar 25, 2011 02:04 PM

Bill Pohl

Tetra Homes, Inc. - Loveland, OH

Bill - I think the correct answer is that all real estate is local. Some areas are fantastic and some areas are desperate. It just depends on the local economy.

Mar 25, 2011 04:23 PM

Michael J. Perry

KW Elite - Lancaster, PA

Lancaster, PA Relo Specialist

We are starting to write a lot of open business(and settlements will follow) !!!!

Mar 26, 2011 01:19 AM

Randi Brammer

Randi Brammer, Acctg. - Hinckley, MN

Accountant & Tax Preparer

Bill, I agree with you. My area is one of the very slow ones as you know. But, we are seeing a spark of life here and there.

Mar 26, 2011 02:44 AM

William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

The market really is local. Right now with a lot of listings out there in most places the local economy is a big driving factor

Mar 26, 2011 02:47 AM

Chuck Carstensen

RE/MAX Results - Elk River, MN

Minnesota/Wisconsin Real Estate Expert

Its hard to get a house now. Lots of multiple offers going on now.

Mar 26, 2011 08:42 AM

Vern Eaton

Askov, MN

Realtor 651-674-7449

Bill, I would be happy with a single offer. Like Randi, real slow up here.

Mar 26, 2011 01:36 PM

Mike Carlier

Lakeville, MN

More opinions than you want to hear about.

Hi Bill, the market can be terrible with thousands of unsold homes. There is still only one best buy, and it will attract a multitude of smart buyers. Sounds like you may have been near target with this one.

Mar 27, 2011 05:04 AM

Is the Real Estate market really as bad as they say?

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William Feela

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