Sea Change

By
Real Estate Broker with Coldwell Banker Residential

A "Sea Change" is defined as a profound or notable change.  It usually refers to the moment that a major change in a long-standing trend takes place.

I was out with a buyer today, and he told me:

"I've been thinking about buying a property for a couple of years... but you know, the market has been so weird, up and down... and down... and down... and the stock market has been weird... and all the layoffs....

      but the prices on some of these homes... they're just so cheap, that I think it makes sense, now, to start buying".

It seems that this particular buyer, has put into words what I'm seeing taking place out there... with an increase in showings, appointments and purchases...  There's been a "Sea Change".  Buyers are beginning to feel that purchasing a property is a good value, again.  That perhaps, (and only perhaps) we've reached close enough to the bottom, that it makes sense to dip their toes in real estate again.

Now, this was only one client who said it out loud.  But I'm looking forward to hearing it from more clients.  The prices are certainly down... sellers have become far more realistic about what they expect to get on their properties.  And homes have begun selling again.

Posted by

 ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate

Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate
Licensed in Illinois

   

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Anonymous #9
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Anonymous

Real estate is like the ocean big waves and little waves and it is rarely calm !!

January 17, 2009 08:56 PM
Rainer
137,570
Roy A. Peterson
P.R.E.I.
Domicile Analysis of Texas

Alan, feeling the wave all the way down here in El Paso also, I actually pull out the surf board and enjoying the ride.

            ~ LIfe is Good

                                   Roy

January 17, 2009 09:08 PM
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Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

Steve... we do have a nice ix of "good stuff"... but we've had that good stuff for a while... suddenly buyers are ignoring the pundits, and coming out to buy

Carl, always something of note going on in the ocean

Roy, any photos of you up on that board?

January 18, 2009 08:32 AM
Rainer
72,653
Marian Gregor-Ann
Arbor area Real Estate
Keller Williams

Hi Alan,  What does Warren Buffet say? The smart people buy when the prices are low! They don't get much more successful than Warren.

January 19, 2009 01:08 PM
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Alan May
Evanston & Northshore of Chicago real estate
Coldwell Banker Residential

True, Marian, those that make the biggest money are not those buck the trends. 

January 19, 2009 01:30 PM
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Alan May

Evanston & Northshore of Chicago real estate
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