MOTHER NATURE - THE TRUE MARKET INDICATOR

By
Real Estate Broker/Owner with Seaport Real Estate Services REB.0790195

Mother Nature served up more than just inclement weather during the 2014-2015 Winter season.  As the snow piled up throughout New England we were given insight into a real estate market that would have otherwise been impossible to perceive. 

Reports regarding the absorption of foreclosures and REO’s have been fairly consistent. The inventory is being purchased which in turn is driving supply down as well as months of inventory.  Our economy is feeling a bit healthier and we expect interest rates to rise by the 4th quarter as a reflection.

But WAIT….the latest snow storms showed us that MANY homes are still VACANT & BANK OWNED.  With driveways blocked and paths un-shoveled we were able to get a true glimpse of the housing market.   No one is home….and doubtful that they are no snow birds who have gone south for the winter. 

Finally, clarity from a Mother who tells it like it is. 

 

Thank you. 

Posted by

Tim Bray

 

B.S. Real Estate & Urban Economics (UConn)

Seaport Real Estate Group @ Sotheby's International Realty

Residential & Commercial Real Estate

Representing buyers/sellers of residential, income-producing, investment & development real estate

Cell: 860-912-7137

www.seaportre.com

Email: tbray@seaportre.com

Fax: (860) 760-6784

"Partnering with you to make real estate decisions worldwide."

 

Servicing five great locations:

Mystic, Old Lyme,Essex , Madison, Guilford

Comments (19)

Terry Records
Records Results!Real Estate - Fort Myers, FL

Very interesting!

Apr 08, 2015 07:33 PM
Michael Del Grosso
Total Mortgage - East Lyme, CT

I'm just trolling through everyone's old posts...

I noticed the same thing, driving around. Many blocked driveways painfully obvious vacant homes.  Also I while speaking with agents I saw a trend because of the obviously uninhabited homes, missing copper.  Some clever vandals have started using the internet to find vacant homes/REO's and remove the copper... 

Jun 05, 2015 12:41 AM
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