What is the market conditions? That is what I hear on a daily basis every where I go. I could be in the gas station, wearing my name tag, and the cashier asks, "Are you in the real estate business?" I answer, "Well yes I am!" And we all know what the next question is, "Isn't the market really bad to be in that business right now?"
My mouth always drops when I hear that question. I always answer back with a smile, "For some, yes, it is rough. However, I love today's market. With the tools we have now and the mortgage rates where they are, there should be no reason why a Realtor such as me would not be successful. Today's time might be rough for some, but not me. I do this full time and I make sure my clients are successful in this market."
I love to watch the faces when I explain the market is not bad. I leave the store with a smile. Wow, I feel good and I look back at the service rep. and they are smiling too.
Just for some information that a lot of people ask, listed below are the statistics for the areas I work in. This is 2008 statistics of how many homes have sold, how long did they take to sell, and how much were the homes selling for. The statistics provided below are for single family homes.
Ross, Ohio: Average Days on Market=74 Average Sale Price=$154,574 Total Homes Sold=91
Fairfield, Ohio: Average Days on Market=75 Average Sale Price=$163,297 Total Homes Sold=485
Hamilton West, Ohio: Average Days on Market=89 Average Sale Price=$97,546 Total Homes Sold=341
Colerain, Ohio: Average Days on Market=75 Average Sale Price=$103,438 Total Homes Sold=437
After looking at those statistics, I really do not believe the market is as bad as the media is making it. One thing I have learned from the past year: "Don't watch the news or read the paper." its too negative. Receiving information daily from my lenders and team, keeps me up on the real estate market and the information I can provide my clients. Personally, that's all I need.