On a Positive Note...

Real Estate Agent with Century 21 Select Properties

I heard some good news on this rainy day in Tennessee!! 

I don't always hear good news about the economy so I like to share it when I do.  I spoke to an executive this morning who works for a major retailer.  He said that he was, "surprised" at sales last weekend and looking forward to this one.  He, like other retailers, are scared and are expecting a 20% decrease in sales for the holiday shopping season.  He seemed to have a new energy after last weekend and I hope this energy bleeds over into the housing market. 

 According to The Case-Shiller Home Price Index, sales of existing home prices went up 6% across the nation in September--I will be anxious to see what happens this month.  We do know that most of the increase is coming from sales of foreclosures and lower-priced investment properties.  With a huge supply of homes bringing prices down, people are finally buying, albeit less expensive properties but still producing positive numbers.  If the bailout works and some bad loans start to get salvaged, the number of homes getting dumped into the market will be lower and the market should start to stabilize slowly. 

So, keep your ears open for good news and share it.  Things are looking up, are you? 

Comments (5)

Marian Goetzinger
Pine Knoll Shores Realty 252-422-9000 - Pine Knoll Shores, NC
Crystal Coast Real Estate NC

Hello Scott,  During these hard times, we all need to stay upbeat and positive without being ignorant.  While I won't bury my head in the sand, I know we can survive these hard times and even prosper.  Thanks for encouraging words.

Nov 13, 2008 04:49 AM
Kenneth Bargers
Prudential Woodmont Realty - Nashville, TN

Scott - Our office has been talking these past few weeks that interest overall is picking up for all of us whether it is serious or just inquiries.  There does seem to be movement taking place.  All the best to you and your business.

Nov 13, 2008 04:54 AM
Christina Moock
Cutler Real Estate - Canton, OH
REALTOR - Cutler Real Estate

Good to hear some positive news!

Nov 13, 2008 05:00 AM
Jon Wnoroski
America's 1st Choice RH Realty Co., Inc. - Green, OH
Summit County Realtor

It's always good to hear good news in this market.  We should probably take a lessons from those in the retail industry.  When they are faced with a down market they are most likely to reduce prices and hold huge sells to spur business.  In a down market it might be a good idea for home prices to be reduced to attract buyers.  Just a thought!

Nov 13, 2008 07:23 AM
Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

It's such an interesting market these days- I'm busier right now than I have been in the previous couple months- the stock market is very much trying to find it's equilibrium and home prices are fantastic for buyers... a little upward movement would help the sellers.

Nov 15, 2008 03:58 AM