Leave it to the National media to paint a black picture of the real estate industry. Real Estate has become seasonal and during a recession the smart investors will start surfacing especially in destination areas such as the area I cover, Manzanita, Cannon Beach, Rockaway Beach, Seaside, etc. Yes we are in a semi holding pattern but I have a gut feeling buyers are going to come to the party with lots of gifts.
Ken Hicks
Coldwell Banker/Kent Price Realty,Inc.
1-800-256-1719
Ken, we are seeing definite unit sales increases in our local communities. The difference in unit sales between March and April were +20% to +50% in one town.
good post..you have to be positive and upbeat and keep on prospecting. there are some great deals right now in Las Vegas. We have to remind our buyers that...
I have jokingly prodded my wife and other family members that we will soon be living in a tree.
With the collapse of the re-finance mortgage market and tightening of lending restrictions, most of our signing business evaporated about a year ago. This left us living in our dream home with no way to make the mortgage payments...sound familiar? It didn't take us long to get our minds right, we listed it for sale (on the market since last August) but have yet to get it sold. We had one promising prospect in December who we traded offers with...it turned out that they had done the same exact thing with four or five properties simultaneously and then "cherry-picked" the best deal for them. Talk about a buyers market!!
I'm remaining hopeful that a sale will occur because the traffic has increased ten-fold in the last month.
The next problem will be finding just the right treehouse to afford. Perhaps I'm setting my sites too high? Maybe a really good corregated cardboard would be O.K. After all, California is warm in the summertime right?
Nice post. We certainly will come out of this crisis sooner or later. My guess is later. Before things can improve, we need to deal with a limping non-real estate economy, unfavorable demographics, mortgage lenders sticking their heads in the sand, extremely high inventory, and a lot of folks who "bought ahead" during the low rates and easy qualifying times of a few years ago. This will all take time, probably years rather then months.
That said, it does not mean that we can not or will not continue to do business. It's just going to be more challenging. There are still a lot of real estate transactions occurring every day. It's a good time for the weak, the underqualified, the undermotivated real estate agents to make a decision. They need to improve or, well, learn to ask questions like "Paper or plastic?"
Welcome to the Rain, make sure that you browse the site and become familiar with everything this site has to offer. The more you browse the more you will learn. I have found this site to be really helpful to me. If you have any questions, please don't hesitate to email me, I will do whatever I can to help.
Ken, I am in a similar market in Central Oregon, specifically Sunriver. Appreciate your optimism. I'll keep you in mind if I hear of anyone looking on the coast.
I see that you are new to Active Rain and I just wanted to welcome you.
I hope that you enjoy it as much as I do and that you find it a great resource
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!
My main blog on Active Rain is here: Charlottesville Real Estate Blog, not the link at the bottom of this post.
I hope you will look into the many groups as there are some great group both local and broad based,....
enjoy!
Comments(8)