Hey, how's the market doing?

By
Real Estate Agent with Keller Williams Real Estate VA License # 022-520-0513

In my 2 1/2 years as a professional realtor, I probably get this question at least once a day from friends, colleagues and the public at large . . . "Hey, how's the market doing"?  Truth is, the market seems just okay and in a proverbial holding pattern.  Maybe it's the fear of the unknown, maybe it's the wintertime, maybe it's the upcoming Super Bowl, hard to say.  The fact is that in the Northern Virginia area, we are better off than most U.S. markets.  This I do know from my business, if homes are priced at the market, they will more than likely sell in a reasonable amount of time.  Another related problem is, inventory is so low that sellers might have difficulty finding their new home.  And, new construction takes time.  So we have a good ole' fashioned Catch 22.  Good news continues to be that interest rates are still very low.  Stepping back and taking a big picture look, interest rates were 18% in the late 70's.  The cost to borrow money is far, far cheaper now.  This realtor thinks that, along with the nicer weather and impending springtime, folks will be more motivated to list and buy.  

 
Glenn and I are optimistic and never, ever take no for an answer.  Creative marketing and a focused approach will help our clients and colleages reach important goals in 2014.  Now let's go sledding!
 
 

Comments (4)

Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

I used to say that in every market someone makes a fortune and someone loses a shirt. It is not the market, it is where you are in that market. If you bought theproperty at the peak of the market in 2006-2007, and are trying to get your money back, it may not be that great, at least in many places it is not yet.

But if you bought a property in 2011 for a fraction of its value in 2006-2007, the market is simply excellent.

P.S. I was surprised you call yourself a professional realtor (unless, of course, paying dues to them is a profession :)

Jan 25, 2014 10:35 AM
Anonymous
Jennifer Roux
I'm finding buyer interest is picking over the last week...but I'm still concerned about the low inventory.
Jan 25, 2014 11:48 AM
#2
Anonymous
Lori Thompson
This is a common question in our resort market where its been a slow turn around. I find its helpful to have some 'good news' to share with both buyers and sellers. I sometimes find as I am able to engage in more powerful conversations with people who are asking, I will find a reason they need my real estate services sooner than later.
Jan 27, 2014 02:48 AM
#3
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Kathy & Glen - Thank you for sharing an excellent blog about how is the market doing.

Jan 27, 2014 04:57 AM