BrokerIPTV : Denver Real Estate Market Conditions Ready For Steady Climb. We are talking with Bill Cummings today, the director of real-estate advertising for the Denver newspaper agency. Bill, the current market, its in a trickle down effect and everybody involved in real-estate business. How is it affected the newspaper?
Bill Cummings: Well, its impacted on newspapers. We are lucky, I came from the California market, we are lucky in the Denver market that we didnt have a bell curve. So, we didnt have sharp increases, which means we didnt have sharp decreases. So, the Denver market appears to be a steady climb, of course national association of REALTORS as Denvers one of the top five markets that will have the comeback first, so we are looking forward to that.
BrokerIPTV : Yeah, well you got that right. How about builders? Builders in the past were famous for doing two big page layouts and things like that. Are they still spending the lot of money?
Bill Cummings: Builders have cut back, but they have also cutback on their building in the market place. We are about 40% less new builds that are happening in our metro and our revenues are pretty much aligned with that. When you dont have houses to sell, you dont have a need to advertise. I think those that are selling houses are still very serious and they still by large presence in newspapers and website.
BrokerIPTV : The prediction game. You mentioned that you thought that Denver was going to be one of top five and they are going to bounce back quickly a lot, say 12 to 18 months before we are back go to normal, is that what you are thinking?
Bill Cummings: I dont know what number is anymore. What we know is we dont know, but our going strategy for both the Denver post and the rocky mountain news and the river state products, were developing is to help the ply inventory. We have a tremendous amount of foreclosures in the market we have tremendous amount of homes that are resale on the market and if we can help the pleat that get rid of the get that product sold then that will help support price increases. So, thats part of what we are doing. We are coming out lots of new things to help do that.
BrokerIPTV : Have we seen the worst of the mortgage mess?
Bill Cummings: I am not sure, we probably have to leave that up to the justice department to say whether we have or not. I think there is a lot of things that going to be better, but in the medical world sometimes you have to re-break the bone a couple of times before you get it to set right. So, I dont think we are out of the woods yet.
BrokerIPTV : Finally, if you are realtor. What would be your strategy today?
Bill Cummings: I would be consistent. I would make sure people know how to get hold of me, either on line or with the telephone and I would make sure that my sellers are real happy.
BrokerIPTV : I know I shouldnt must ask about buyers, because that seems to be the thing that everybody, every realtor wants to know how can I find more buyers?
Bill Cummings: Well, again buyers are going to be coming from the immediate see is the buyers are coming in from out of the market. I have heard that we have somewhere between 50 and 60,000 new people moving into the Denver region. So, many of them are going to look for place to rent or home to buy. So, I would make sure that I am on websites, I am in news papers and I am in things like our new publication called Real-Estate Showcase.
BrokerIPTV : And cozy after your relocation department.
Bill Cummings: Cozy after relocation department.
BrokerIPTV : Bill thanks very much, [Misc. Voice] I appreciate it.
Bill Cummings: Thanks for having me.
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