Sea Change

By
Real Estate Agent 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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Rainmaker
863,001
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Alan..Let the flood gates open, and the tide can come in anytime now we are ready and willing to write that deal.

Jan 17, 2009 02:09 PM #1
Rainer
64,529
Teresa K. Nelson
Marketplace Sotheby's Intl Realty - Woodinville, WA

Nice Picture Alan.

You look just like the president...kinda.

 

Jan 17, 2009 02:15 PM #2
Rainmaker
286,047
geri wehry
RE/MAX Select R.E. - Covington, WA
your agent for life

Alan,  I am in the Seattle, WA area and we too are starting to feel things move again.  We had our office meeting last week and the feeling in the office was more optimistic - all the agents are saying they are feeling like things are going again.  Not sure if they really are, or if it is just optimism for the New Year, but either way i will take it.  I myself got offers on two of my listings this week!  Wow, haven't had that in a very long time!    Have a great day and thanks for sharing.  ...geri

Jan 17, 2009 02:21 PM #3
Rainmaker
60,697
Tami Vroma
West Michigan Real Estate Specialist-Five Star Real Estate - Grand Haven, MI
Realtor, Grand Rapids MI Real Estate

From your lips to Gods ears Alan.  I know I have had an incredible two weeks!!  3 buyers under contract.  Please lord let them all go!

Jan 17, 2009 02:56 PM #4
Ambassador
507,482
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Alan - Sounds like your buyer sees the light that is very apparent if you can just stop staring into the dark long enough to see.  And quit changing your picture;)

Jan 17, 2009 04:29 PM #5
Rainer
89,191
Randy Hooker
Dreamcatcher Realty / Greater Phoenix Area - Gilbert, AZ
Gilbert, Chandler, Mesa, Queen Creek

Alan, I espouse the idea that there is a HUGE segment of folks out there with pent-up buying motivations.  All we need is a little crack in the dam, like a couple of positive reports from the media (e.g., a bank reporting a profit), and I have a feeling the buying surge will be on!

randy

Jan 17, 2009 04:58 PM #6
Ambassador
993,536
Alan May
Coldwell Banker Residential - Evanston, IL
Evanston & Northshore of Chicago real estate

Steve, I agree... we're ready and waiting.

Teresa, I'm glad you like the photo.. but I don't see the resemblance

Geri. we've started to see some activity in the last couple of weeks

Tami, that sounds great... (my grandfather used to say that... "from you lips...")

Jason, the light at the end of the tunnel, as far as the buyers have been concerned, was the headlight of an oncoming train... I think they're starting to believe that it might actually be the end of the tunnel... and stop changing "what picture" (eyes blinking innocently)

Randy, there's no question that there is pent up demand for housing... but it's going to take a little more than a crack in the dam... it's going to take a full blown New Orleans-style levee break, and then... those of us still standing better be ready!

Jan 17, 2009 05:17 PM #7
Rainer
290,847
Richard & Carol DeGrace
1st Colonial Community Bank | Bank - New Jersey - Cherry Hill, NJ
Mortgage Loan Officers NJ 609-209-3700

We hav ea nice mix of low rates, the spring coming in, lowest prices in several years, tax credits, etc. Nay-sayers will scold for fear markets will continue to decrease, but it really is a great time to buy (something you can afford).

Jan 17, 2009 08:07 PM #8
Anonymous
Anonymous
Anonymous

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

Jan 17, 2009 08:56 PM #9
Rainer
137,570
Roy A. Peterson
Domicile Analysis of Texas - El Paso, TX
P.R.E.I.

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

Jan 17, 2009 09:08 PM #10
Ambassador
993,536
Alan May
Coldwell Banker Residential - Evanston, IL
Evanston & Northshore of Chicago real estate

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?

Jan 18, 2009 08:32 AM #11
Rainer
72,875
Marian Gregor-Ann
Keller Williams - Ann Arbor, MI
Arbor area Real Estate

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.

Jan 19, 2009 01:08 PM #12
Ambassador
993,536
Alan May
Coldwell Banker Residential - Evanston, IL
Evanston & Northshore of Chicago real estate

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

Jan 19, 2009 01:30 PM #13
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Alan May

Evanston & Northshore of Chicago real estate
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