Hot Market in Cold Weather

By
Real Estate Agent with Prudential CNY Realty

Typically, in Central NY February is a quiet time of year in the Real Estate business. February 2008 is just the opposite. I am finding more and more sidelined Bueyers calling and stepping back into the market. Inventories are decreasing in Syracuse, Manlius, Fayetteville, Dewitt and Onondaga Hill. The key now more so than ever is excellent condition and aggressive pricing.

A few weeks ago, an older 2 family house in the Eastwood area came on the market on a Friday. I called my client immediately because it was priced well. My cleint had plans to be out of town for the weekend. Now, given what we were seeing in the market, I wasn't terribly concerned. Monday afternoon we went to the house to see teh two apartments, which were vacant. While the fixtures and stylings were dated the condition was superb. The mechanics were all newer. It was an investment property ready to go. I called the listing agent from inside the property to tell him my client was writing an offer. He told me they had had 4 offers over the weekend and that morning had signed a contract, and apologized for not updating the status in the MLS.

Since, that time as I have watched the new listings I have seen the same happen in Onondaga Hill, Manlius and Dewitt. I have explained this to my Buyers and Sellers and we are now approaching the market to be "in the market" rather than "on the market". I can tell you it is working. My phone is ringing and the referrals are coming in.

With February so busy, I know that 2008 is going to be a banner year for me and my clients. Yes, things are heating up in Syracuse.

Comments (1)

Rick Sergison
EXP Realty of Canada Inc., Brokerage - Pickering, ON
Durham Region Real Estate Blog

I just stopped by to welcome you to Active Rain. I hope that you find it a great benefit to your business and that you see the value that I have also found here. I am from Charlottesville Virginia and using Active Rain has really increased my business!

There are some great group both local and broad based,.... enjoy!

Feb 25, 2008 09:01 AM