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How is your market?

Home sales are down!

Home sales are up!

Which is it? Are they up or down? Obviously whether or not they are up or down depends on the market or locale that is being measured. We all know that each real estate market is driven by certain events that may or may not be related to those driving other markets.

From what I have seen in my local area, we still have a glut of empty homes, both new never lived in homes and foreclosured homes. Until we can get someone living in the places, our market is going to stay fairly depressed.

Some state and local governments have taken steps that definitely make it harder for investors to buy and sell real estate.

I heard on the radio that the end of the $8K credit for new home buyers has put a serious halt to home buying across the country. I also heard that in Detriot, the city is knocking down older homes, in order to keep the prices up. In Las Vegas the county is paying contractors to build new homes, just to keep some type of construction employment going.

What is going on in your makret?

 

Comment balloon 6 commentsKevin Robinson • June 26 2010 11:05AM

Comments

In Arkansas on a whole I would say that the market is flat.  I think the good news is inventory is down and prices are stable in most markets.  It's going to continue however to be a touch Real Estate Market.

Posted by Michael Ford, Matching Families with Homes (Coldwell Banker Heritage Homes) over 9 years ago

I recently posted an article about the property values in Volusia County Florida following a forum on the subject.  Read my post at http://ormondbytheseaproperties.blogspot.com/2010/06/volusia-county-florida-property-value.html

Posted by Al Raymondi, Ormond By The Sea Florida - Home and Condo Sales (Ocean View Realty Group in Ormond By The Sea Florida) over 9 years ago

I've been showing rental homes for 3 days STRAIGHT!!!  I have to get my blogging in EARLY in the AM and I start working at 7A  because of the heat.....loads of people do not want to buy because they don't want to get caught if they need to sell!!!

Posted by Wallace S. Gibson, CPM, LandlordWhisperer (Gibson Management Group, Ltd.) over 9 years ago

Thankfully San Antonio, TX and the surrounding area is still steady.  We saw a mild slow down once inventory was gobbled up due the the tax credit.

Now it seems back to normal for a decent July and healthy August.

Posted by Melissa Anderson (Mortgage of Texas & Financial) over 9 years ago

 

Everyone talks about volume, yet no one talks about commissions being down.  Most people are making less, doesn't matter what the market is doing.  Less sales, less construction, lower prices.  Unless you are getting more per home than you did a few years ago, or are selling more homes to offset the lower prices, you are going backward, exactly what most markets are still doing.  Stop fooling yourselves.

Posted by Dale Terry over 9 years ago

In Central Florida, the homes that are priced right are flying off the shelves.  It seems like everything we make offers on is in a "highest & best" situation where multiple offers are being made.  And this isn't on just the cheapo properties.  This is also on the mid-level family type properties and also on the condos.  Vacation buyers are snapping those up as well.  It's almost hard to believe.

Posted by Rob Arnold, Metro Orlando Full Service - Investor Friendly & F (Sand Dollar Realty Group, Inc.) over 9 years ago

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