Word on the street is that real estate markets are improving -- You tell us ...
By Daniel Rothamel, Inman Community Manager, Sunday, March 22, 2009.Bookmarking Sites
One of the things that we try to do here at Inman News is keep our finger on the pulse of what is happening in markets across the country. The best way for us to do that is to find out what folks on the ground in the industry are seeing in the markets where they work every day. Lately, buzz has been building from real estate professionals that suggests that many markets might be taking a turn for the better.
We want to hear from you. What are you seeing on the ground in your market? Are conditions getting worse, improving, or even getting better? What might be the reasons behind this movement?
We always strive to give you the most complete and accurate picture of what is happening in the real estate industry, and we need your help to do it. If you have a moment, fill out our short survey about your local market conditions. Once you fill out the survey, you can register for a random drawing to receive a $50 Amazon Gift Card.
So, share with us the conditions in your local market-- you know it best. We will learn something from your participation, you will learn something from the results, and you might even win $50 to spend at Amazon.com. Sound fair?
And, since we know that you are busy making your real estate business better, we made sure to keep the survey short. It's only nine questions, so it won't take but a minute. Click here to fill out the survey.
Click here for survey.All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
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Submitted by Robert Wiebusch on March 22, 2009 - 6:32pm.
The Omaha area market is heating up. First-time home buyers are fueling a chain reaction that is allowing others to move up or move on. We had a dismal start to the year and are really seeing improvements in listing and pending sales so far this month. Web activity on www.npdodge.com is through the rough when compared year over year which leads us to believe that there is a lot of pent up demand that is bound to break loose in the coming months.
Submitted by Jeri Creson on March 24, 2009 - 7:08am.
The market is great from where I sit - Much opportunity being seized by buyers who sat out on the sidelines longer than they intended to. Another thing I'm seeing, that bears mentioning - I train 50+ agents at my company. Many newer, inexperienced, or too hungry agents are spending -nay - wasting their time with bargain hunters and those who claim to be "all cash buyers". These folks jump from potential deal to deal - agent to agent - until they wear out their welcome and ultimately buy nothing.
Meanwhile, very nice, very reasonable people who are happy with a good deal - not a rock bottom-only-if-I-can-steal-it deal are actually the ones being successful in this marketplace. As agents we need to develop some internal discretionary senses to realize when we are dealing with clients who are serious about purchasing, and when we aren't - opt out. Spend that time, money and energy searching for real buyers, not wasting it on folks fantasizing and pretending to be real estate investor moguls.
Life is good - spread the word.
Jeri Creson
Submitted by Louis Cammarosano on March 24, 2009 - 12:13pm.
It seems that the boost is from first time homebuyers. We may need more than that for the recover to take hold.
http://blog.homegain.com/market-trends/first-time-homebuyers-boost-exist...
Submitted by Ryan Martin on March 25, 2009 - 12:41pm.
I have two offers written and 2 accepted so far this week. I'm also working on getting a 3rd signed around. Also, have a new well priced listing this week. Things have really picked up since January.
Ryan Martin ~ Realtor®, e-Pro®
Website: http://ryanmartinrealestate.com
Twitter: http://twitter.com/RyanRE
Submitted by Lisa McKnight on March 27, 2009 - 9:12am.
Here in the Midwest, St. Louis, MO the climate is slowly changing. Shortsales and foreclosures coupled with low interest rates and new homebuyers are making the difference. Also, rehabs now look like show rooms and are driving the prices up slowly. I have been showing property two to three times a week to first time homebuyers and buyers seeking to land a short sale or foreclosure who are willing to do the work themselves. I agree, it seems we have turned a corner.
Lisa McKnight
Submitted by Kris Berg on March 28, 2009 - 8:46am.
Insanely busy in San Diego. We are feeling a shift.
Submitted by Katie McKelley on March 30, 2009 - 8:17am.
We have definitely seen a pick-up here in Portland, OR. Clients seem to feel more secure that the housing market isn't going to completely self-destruct, and are now trying to capitalize on the 'buyer's market'...the only downside to this is the attitude some have that they should be able to get something for nothing.
All in all, we're not complaining over here!
http://mportlandrealestate.com
Submitted by Jill Black on March 30, 2009 - 10:41pm.
We are seeing more people looking. While sales are still down we saw an improvement in February (even taking into account time of year). I think March will be up as well.
site : http://www.insidesanantoniorealestate.com/
blog : http://www.insidesanantoniorealestate.com/category/sanantoniorealestateb...
Submitted by Eric Bouler on March 31, 2009 - 6:57pm.
Eric Bouler
Prudential Gardner
New Orleans,La.
www.neworleanscondotrends.com
www.ericbouler.com
Seeing a seasonal chnage which is very good. Business is improving but nothing to write home about. Not as good as last year.
Submitted by Clare Nash on April 1, 2009 - 12:38am.
I think this is a really good idea we need to be aware of not only how the economy is affecting our properties but also what buyers/sellers are thinking about property at the minute. This will help us with in the long term access whether now is the time to invest in property. Recently I attended a property workshop which offered me really good advice about property investmentand how to tackle any market and be successful.
Submitted by (Fort Worth Real Estate Guy) on April 3, 2009 - 5:40am.
We need a shift in Texas. We got the leads just not the buyer we want. Come on People it is the best time to buy
Mike Pannell
Nu Home Source Realty LLC
817-509-1400
http://www.nuhomesource.com
http://www.nhsfortworth.com
http://www.nhsdallas.com
Submitted by Wei Min Tan on April 3, 2009 - 3:12pm.
Manhattan market is just starting to go down, driven by effects of layoffs. Big news today saying sales declined more than the auto industry! It went up while the rest of the US declined and hence, it's lagging in the downturn as well.
Wei Min
castle-avenue.com
Submitted by Brandon Litaker on April 4, 2009 - 9:24pm.
There is a good turn around in activity in Southalake Texas Real Estate. It never was nearly as bad as many parts of the country. Southlake itself never really had a major hit, prices are pretty stable. Some cities outside of the Southlake area have seen some drops in value but again not as bad as other parts of the country.
Visit my web sites if you are looking for Real Estate in Southlake, Colleyville, Grapevine, Keller or Westlake TX.
Visit: http://www.LitakerRealty.com
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Submitted by Gene Urban -- The Urban Team on April 6, 2009 - 4:06pm.
The Phoenix market saw a big shift in March. Our sales and pending numbers have been consistently rising for several months and simply exploded in March '09.
Closings bounced up to 7100+. This is the first time we've been above the 7000 mark since mid-2006. Pendings rose as well to 12,587 indicating our April closings will be even stronger. Another important factor is inventory levels are down 20% from a year ago.
On the flip side, a high percentage of sales are REOs. They count for about 25% of the inventory and nearly 80% of the sales (depending on who supplies the stats.)
Generally, we are feeling more optimistic, yet we do not expect to see values rise for some time with the exception of the under $80K market.
Mostly seeing first time home buyers and residential investors in the under $250K range. The 600K+ market is still very slow accounting for about 2% of the total sales last month.
Thanks for providing ths forum. Helps to get a perspective on the market.
Gene Urban
The Urban Team at Realty Executives
602-234-5777
www.UrbanTeamAZ.com
www.UrbanLifeBlog.com
www.greatinvestmenthomesaz.com
Submitted by Paula Hines on April 6, 2009 - 4:15pm.
Nationwide we are still seeing an ongoing steady increase in investors that are looking for the big deals on bank owned homes and foreclosure listings and we are still seeing tons of foreclosures. Short sales are still on the rise and we haven't seen them peak yet. Although the markets may be turning around in some areas I still think there are some huge deals still to be had in this market.
Submitted by Commercial Mortgage Loans - Privately Funded - MasterPlan Capital LLC on April 6, 2009 - 6:46pm.
Rates are low and prices are down.
The problem is that only the Government is loaning money. Banks are not originating loans unless they can sell them to Fannie or Freddie.
The credit markets as we knew them are dead. The US Government IS the credit market. That's not a good thing.
MasterPlan Capital LLC - Simple, 1 Page Commercial Mortgage Application; Online - www.masterplancapital.com
Submitted by A Nonymous on April 11, 2009 - 4:07pm.
In very niche areas, and subsequently more niche markets there may well be some improvement here and there. As far as the European market is concerned though the general concensus is not good from what we see, and the middle east is beginning to suffer too.
Many developers are going out of business, projects not being completed or being delayed substantially, and many scams are arising as a result. We are in for a long ride on this one, any rise in sales presently from our humble opinion are more due to a "dead cat bounce" rather than any significant turn around.
http://investmentpropertyrumours.blogspot.com/
Submitted by Taryn Warne on April 16, 2009 - 4:39am.
Without the banks providing credit the market immediately goes into a receeding state.
The knock-on effect is being seen all over the world and shows the 'little guy' how the powerful dominate and control the banking and credit regulated system!
Besides the fact that we are being told over here that the South African market is relatively shielded form the effects of the credit crunch the local 4 BIG lending institutions have cut back drastically on home loans and require as much as 15% or even 20% deposit to protect their risk, this excludes transfer and legal fees.
Clearly only those with cash or a equity strong access bond can and are purchasing homes at massively discounted rate!
Consultant
Bond-Free-Homes.co.za
Submitted by Todd Hutcheson on April 22, 2009 - 7:37am.
Todd Hutcheson
[url]SellOrlandoHomeFast.com[/url]
Things are getting a little better in Orlando. Low end REO houses are getting multiple offers if they are price right. Prices are still down and will continue to fall as long as there are more foreclosure filings in a month than home sales.
Submitted by aaron williams on June 1, 2009 - 8:47pm.
I'm in the Providence Rhode Island market and it seems that the banks are still not lending unless the buyer has a down payment. I've had 2 different people with credit scores of 700 plus and everyone turns these buyers down because they want to do "no money down programs" and the banks don't agree with their debt to ratio.
The only houses that are really moving are the cheap $20,000 fixer uppers that real estate investors are either using their own money or using private lenders that they have a good relationships with.
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Submitted by Brewer Caldwell on June 16, 2009 - 3:41pm.
Brewer Caldwell is seeing an increase in interest for investment properties. A lot of our offers are facing competition.
Submitted by Patty Redlich on June 29, 2009 - 8:28am.
The Central Florida market is very slow. But there are some good buys here.
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Submitted by aaron williams on June 30, 2009 - 4:17am.
The real estate market in Providence, RI is stabilizing. I think we have bottomed out because prices can't really go any lower and we have seen the first months increase in sales in 15 months. Its gets to a point where you can buy a house and rent them and make a profit day one and it seems that a lot of landlords are buying heavy and people who lend out private money are loosening their wallets again so investors can buy properties again.
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Submitted by Nick McCully on July 2, 2009 - 3:24pm.
We can help with your short sale or foreclosure. Our services are free to agents and homeowners. We professionally negotiate with our contacts at the banks, and then we close the transaction because we are the cash buyer. Don’t wait for the market to bring you a buyer call us. We are ready to buy now. We close 6 to 7 for every 10 properties we take on in the short sale arena.
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Submitted by james lee on July 28, 2009 - 7:47pm.
i think it is definitely improving. Homes sales has risen 3 months in a row. Which is such a great sign that the housing market is coming. This is so good to see.
boulder mortgage
colorado springs mortgage
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Submitted by alex ray on July 31, 2009 - 1:39am.
home sales are still low according to macroeconomic data. but in China GDP is still growing very fast, so they having building boom
Submitted by Jason Gray on August 15, 2009 - 3:45pm.
i think it is definitely improving. My concern is the Fed Gov't is intervening in a way that artificially changes short term buying habits. Everything is Jobs driven.
We are seeing a spike in recent web traffic and buyers coming in for bulk sales, but I'm skeptical
Bulk REO
Investment Property
Submitted by jimmy choo on August 31, 2009 - 10:20am.
it's a matter of being realistic about price -- there are owners who have multi-million dollar houses on the market that have gone unsold for years while their next-door neighbors have sold within days of putting their houses on the market because they knew enough to set a realistic price, or, better yet, they were astute enough to pick a rare bird: namely, a real estate broker who knows how to set a price.
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