How Bad is Today's Market, Really........

Hi Kelley,

That is the power of the media, for good or bad, and unfortunately, bad news sells.  I think that it's like a tiny little snowball that has grown and grown and picked up speed and size over the past year.  Our economy is only as strong as people "think" it is.  So do your part to spread some good news when you can,  and hopefully things will pick up for us all.  Best of luck and happy blogging.

  

How very true, Kelley!  While sales in a number of areas are not what they once were, there are indeed people who are still buying and there are MANY great opportunities to buy in today's market.  You also made a great point about the need to reinforce that Real Estate is local--very local--even down to differences within varying subdivisions and price points within the same city!  There is NO national Real Estate market, as many choose to believe.

I rest my faith on something bigger than what the media and negative people are resting on.  There is no room for woes, when we have too many foes around us.  We need to help the negative people from themselves.  Be on a mission.  When you talk positive, you feel positive.  Its really simple.  Thanks for sharing.  Lu

It's good to be positive as it relates to your job yet you can't deny that we're in a declining real estate market.  Lending institutions are in a defensive posture right now impacting most consumers/locations.  You can't say that the changes we see today are a myth or hype from the media, they're real.  Guidelines have been tightened and the available pools of buyers (primary and investment) have been reduced.  You will continue to see home values move more in line to a 3-4X median income/median sale price.  This has an impact on both you and I, it's up to us to adjust to the market and do the best job we can with the tools we have.  Buyers/sellers don't like the unknown.  What we can do is help them better understand the market we're in, instilling confidence in their decisions.   

Forget the news .........optimism is contagious --- if you think positive, you will probably get positive.......we see an increase in traffic .....and we have to work differently than we did before.  Stay away from negative people ....

It's not up to us to try to change the publics perception of the market.  It is self defeating.  There are plenty of potential buyers who are willing to buy for their own reasons.  Work with them.  I often think that NAR and CAR have lost credibility with all of the spinning they do with their too optimistic projections.  There are opportunities in every market.

 

You have to look at the big picture take in both sides and weigh it. Everyone would agree there are spots in their local market that remain hot and others that seem to be like the weather.

Two things Realtors and the media seem to agree on is that there is a surplus of homes and that it is a buyers market.

...and that is not a bad start!

 

Steve

The deals are out there, there are three things you must do to find them and they are MARKETING, MARKETING AND MORE MARKETING. You can't expect properties to sell themselves list YOU MUST MARKET THEM.