TO the real estate "experts"- do you feel ....

that currently the market is:
Slow
Hot
Picking up
DEAD.

Just curious what the thoughts are right now.

Specifically the past few weeks.

Message edited 3/14/2012 9:09:03 AM.

Re: TO the real estate "experts"- do you feel ....

In terms of activity levels, I think it's picking up.

Usually, January and February are dead months in real estate. This year, I've personally had 6 properties either close or go to contract/be pending contract (4 houses, 1 co-op, and 1 condo) during that 2 month period. Most of those properties are in Nassau, 1 of the homes is in western Suffolk.

To compare, last year, in January and February, I had 1 closing (on a house) and 1 house go to contract, so I've had 3 times as much activity this year. Overall, my company's activity has been way up for the first 2 months of 2012 v. 2011.

Plus, I am seeing a lot of buyers out there looking. We had a big turnout at the open house I worked last weekend (at a split level house in Wantagh priced at $459K), and I had 2 new buyers come in this week for buyer consultations.

Imo, there is a pent-up demand... a lot of buyers out there are looking to buy, and they want to buy SOON to take advantage of the low rates. I am encountering a lot of buyers who had been looking casually for the past year to 18 months, and are now educated and ready to buy asap. In my area, I've been seeing a lot of properties go to contract in the first 30 days they are on the market. We had a listing come on the market in our office a couple of weeks ago that got an offer on it the FIRST day it came out -- the first showing. And it is not a brand new or completely renovated home.

So to sum up -- there are a lot of people who are out there seriously looking to buy now, and if homes are priced right for their location and condition, I am finding they are selling quickly.

Re: TO the real estate "experts"- do you feel ....

Re: TO the real estate "experts"- do you feel ....

I think it's HOT

I have 8 buyer appointments between today and sunday

I tend to be a little busier then the average agent- but this is a lot of appointments even for me

I had 9- but one wanted to move it to next week

I put 13 houses into contract so far this year- and Jan and Feb are the slow months (1 just closed today- and I have 5 more closing this month- but a few of those are from last year)

9 of those 13 were my own listings- which is a huge change for me- but more of a reflection on my own business- 4 are owned by the same investor- he is a happy camper


if I keep up this pace- I am on track to sell 75 +houses this year

that's triple my number from last year

People are ready to buy- rates are so low- I have to agree that when a house is priced right- it's selling quick

Message edited 3/14/2012 12:08:25 PM.