I will probably make a few of my fellow REALTORS a bit cranky when they read this, but I am tired of the constant mantra of "The market is SO bad right now." You see, I received my first copy of Kentucky Realtor this weekend and commenced browsing through the pages. As a new REALTOR, I have been bombarded with how AWFUL the market is in Henderson and have seen a number of REALTOR's hang up their hats. It's been a bit scary for a rookie. These are knowledgeable, well-known real estate professionals who, for the most part, have made a good living as real estate agents.
I'm not a doom and gloom person. I tend to look at the bright side of most situations and have viewed my timing in this market as a learning experience. My thinking has been that if I can survive in this market, then I will have all the tools and intestinal fortitude to really excel when the market turns around.
Imagine my surprise when I read the statistics for Henderson's 3rd quarter-based on the numbers, Henderson is doing pretty good compared to other markets.
According to the Kentucky Association of REALTORS, Henderson has not had a huge downfall in the market. Now, this is for 3rd quarter 2008 vs 3rd quarter 2007, but I have been hearing how awful the last 2 quarters have been. So, here is the breakdown for Henderson, Kentucky Real Estate:
|
2008 |
2007 |
% Change |
|
|
# Sold |
104 |
107 |
-2.80% |
|
Median Price |
$90,950 |
$95,125 |
-4.39% |
Some folks out there may say, "But the market is still DOWN". I will agree, but I don't think a measly 3 homes sold is cause for a panic. Let's just do the math shall we? I will use the median prices for each year as listed above and decrease the number of sales by the same percentage change.
|
Sally Saleswoman |
Gross Commission (1 side) |
|
# sold 2008 |
|
|
19.44 |
$ 53,042.04 |
|
# Sold 2007 |
|
|
20 |
$ 57,075.00 |
|
Difference |
$ (4,032.96) |
Wow, that's not a huge difference is it? That $4,032.96 difference is $336.08 per month or $77.56 per week. I don't know about the rest of you, but that doesn't seem all that horrible. I guess we could be in the market that saw a 55.05% decrease in the number of sales or the market that saw a 29.55% decrease in the median price. For me, I'm glad to be in Henderson. I've got to work a little harder, but that's what I expected as a rookie. I've got to work a little harder.
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