Signs of a Changing Market

By
Real Estate Agent with RE/MAX Allegiance, Managing Broker/Branch Vice President

It's 2009 or at least it is supposed to be.  This week it seems like it could be 2004 at least in my little corner of the real estate world.

Here's a few signs of the changing market that I've experienced this week alone:

  • 2 offers on my townhouse listing in Alexandria.

  • 10 people taking my pre-licensing class -- they want to be REALTORS? (Don't they read the newspapers and listen to t.v. news?  The real estate market is supposed to be horrible, remember...)

  • Put a house on the market yesterday.  Finished entering the listing into the MLS around 11 a.m.   By 2 p.m., 3 agents had visited the property and one called me indicating she'd be writing an offer.  Today I have another agent sending an offer as well.  2 offers in less than 24 hours on the market!

  • In less than 12 hours after I announced it, 35 agents in my brokerage have signed up for a preview tour of an ultra-luxury condomium in Arlington.

  • Yesterday, I attended an economic briefing by Dr. Stephen Fuller, Director for the Center of Regional Analysis at George Mason University.  Following Ben Bernanke's lead, Dr. Fuller declared that the recession is officially over.  He expects home sales and inventory numbers to come roaring back around March of next year.

The real estate market is dead.  Business is slow.

I certainly don't think so.

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  1. Stanton Homes 09/21/2009 05:51 AM
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Anonymous #1
Anonymous
Anonymous

Hi Brian,

Things are heating up on the left coast, too!  Glad you had a great week.  Hope next week's even better!

September 18, 2009 11:32 AM
Rainmaker
310,864
James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes
When Looking to Buy or Sell - Make the Right Move
Real Living | At Home

Well I am seeing the same things Brian!  Multiple offers are all over the place!

September 18, 2009 04:46 PM
Rainmaker
476,374
Barb Szabo, CRS
E-pro Realtor, Cleveland Ohio Homes
RE/MAX Trinity Brecksville Ohio

I am anything but slow. I feel as though I missed the entire summer and all the things I usually do because I was working 10 hours a day. But you have to make hay while the sun shines. Glad you had a great week.

September 18, 2009 04:57 PM
Rainmaker
145,576
Kate Wheeler
CCIM - Murphy NC Real Estate for Sale
Country Homes and Land Murphy NC Realtor

I'm glad to hear that things are heating up in your area, Brian.  I  sure hope it heads my way soon - 

September 18, 2009 05:21 PM
Rainmaker
256,463
Alexander- Slocum
REMAX Team- Vancouver WA Real Estate
RE/MAX equity group - Vancouver Washington

Hello Brian, good to hear it heating up like 2004.  We've had warm, then cool, then warm again in this Washington.  Thanks!  John

September 18, 2009 11:10 PM
Anonymous #6
Anonymous
Anonymous

Glad to hear your market is doing well.  With interest rates so low, it only makes sense it would be a good time now.  Hope it continues for you. 

September 19, 2009 09:01 AM
Rainmaker
1,075,092
Wallace S. Gibson, CPM
LandlordWhisperer
Gibson Management Group, Ltd.

I suspect your sellers are pricing your listings correctly and you have the tools to counter the NEGATIVES in the media and press!!! Good for you!!

September 20, 2009 07:36 AM
Rainer
52,503
Peggy Duffy
The Bailey Team Real Estate

Things are hot in No Virginia in the $350,000 maybe $400,000 and under range. The $8K incentive has worked. IMO the government should offer across the board to all home buyers. The first time buyers are purchasing foreclosure and short sale properties; but there are not enough move-up buyers to support those middle price ranges, $500-$750K, and these sellers are not moving up to $1M+ homes.

Let's hope Fuller is right.

 

September 20, 2009 07:37 AM
Ambassador
497,404
Stanton Homes
Design/Build Custom Home Builder in North Carolina
Stanton Homes - Our family designs and builds custom homes for your family

2 offers in less than 24 hours, bet your seller is very pleased!

September 21, 2009 05:53 AM
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Rainmaker
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Brian Block

Northern Virginia & D.C. Real Estate
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