How is your market?

[chrishummel]

From the the newpapers & tv I hear about the slumping market. I'm sure some areas are doing really well. I'm curious to hear about some areas that are doing well. Please share.

[mge_1]

i feel its a little slow here but can't complain.

[Codythebest]

East TN : Flat but picking up for season...

[tarheit]

Not a lot of change here. Number of houses selling is about the same, though there are more on the market than last year so prices are the same to only slightly higher in general (certainly no significant drops). But then in our area we didn't have the huge increases some areas saw in the past several years.

-Tim

[spanishproperty]

We are based on the Costa Blanca south Spain, and there has been a massive rise in sales this year for our companies.

Online our sales have risen 35% upon last year which is pleasing, the amount of walk in trade has also gone up and compared to last year if sales keep going as they have we could be looking at the best year for 3 years.

I think that Spain is rising up again after bad press and rising house prices, we have seen a steady fall in some areas for pricing which is also great for us and potential buyers.

[CTABUK]

The United Kingdom is well and truly slowing down. There is talk of a Interest rate hike, so fixed rate remortgages will be popular and that's one way to keep the market afloat. But first time buyers!! Forget it, prices too high and low incomes. The Lenders are offering 6 times joint salary. So we know they are desperate to lend.

[TJ2007]

Cape Verde is really hot right now. There are far more inquiries and inspection trips being booked than even the biggest agencies can handle.

Predicitions that values could rise as much as 70% in 24 months have fuelled a lot of money and interest both by developers for new upcoming projects and individual investors.

[seosusan]

Things are beginning to pick up. Of course, part of the reason is the season.:D But it appears to me that people are out there looking for a deal and when a place has been priced right, multiple offers come in just like they used to. The only difference is the prices aren't as inflated.

[Alpharetta]

Atlanta - It depends. Condos are flooded. Luxury homes - also flooded. Single family homes under $750,000 it's more or less a sellers market to balanced market in most areas of the city.

[gjtrafl]

Things in coastal NC are OK... Certainly down from our run in '05 but still moving along. We were ranked as the Top 10 city to buy now (#7 of 10) by Money magazine in November so we are still on the radar screen for a lot of people. When you price it right, it will sell!

[ColoradoHomeHelper]

We are pretty slow out here in Colorado. The foreclosures are really bringing down the market. If you bought in 2002-2005 chances are you cant sell your home with out bringing money to the table. Its great for buyers and investors, but sellers are hurting bad!!

[Magill]

Everyone is going to have a different opinion depending on where they are in their career. Some get lots of business in a slow market and some can't even get a sale in a thriving market. I guess it depends on how you spend your time.

[CarolinaGal]

my real estate career hasn't exactly started yet (October is class time!), but i here Charlotte, NC is still going strong. i keep trying to tell myself 'just focus on what is going on locally' before i get scared off by all the national buzz. but it's still a fair warning that i keep in mind. i know this business is going to be up and down at times.

[spanishproperty]

After posting in march I wish I kept my big mouth shut, we were having a blinding start to the year then all of a sudden things just seemed to have dried up.

Hardly any leads, no walk ins, paper is dead, what is going on?

There has been lots of bad press about Spain of late, prices are dropping and we are just hoping that the end of the year brings us some better luck than we have in the past couple of months.

[Home-Flip.com]

Hello,

The market in South Florida is horrible. Nobody can sell anything. I will tell you that it is getting better though. People have stopped lowering there prices and it is picking up (just a tad). Even with the lowered house prices it is still way to expensive to live here.

Julie Rodriguez, MBA

[Nealrm]

The market in SE Missouri is a little slower in the past. The average priced home are doing OK, but the 350+ homes are just sitting there.

[ecomm101]

As a top producing loan officer I find this slumping market a real detriment to my monthly cash flow. Since the collapse of the sub-prime market, the declining home values and the increase in foreclosures I am finding it almost impossible for the lenders to release any money. Case and point: I just had a lender deny a borrower with a 720 mid score going full doc on a Rate Term refinance @ 65% LTV because they re-pulled the gentleman's credit and he opened a new account. Now here's the kicker, this is a CEO who makes $1.3 million a year and has a 6% DTI, $1 million in liquid assets and over $6 million in real estate holdings. It's because of this uncertainty in the market that I had to find something to survive the slump and I did. Ask me how...

[Codythebest]

After posting in march I wish I kept my big mouth shut, we were having a blinding start to the year then all of a sudden things just seemed to have dried up.

Hardly any leads, no walk ins, paper is dead, what is going on?

There has been lots of bad press about Spain of late, prices are dropping and we are just hoping that the end of the year brings us some better luck than we have in the past couple of months.

I've been an agent with RE/max in Spain for 10 months. I was not good, it was the begining of the end. I got there 2 weeks ago to visit my old office: No RE/max anymore, close afternoon due to lack of business and half of other offices are just gone:eek:

[Codythebest]

As a top producing loan officer I find this slumping market a real detriment to my monthly cash flow. Since the collapse of the sub-prime market, the declining home values and the increase in foreclosures I am finding it almost impossible for the lenders to release any money. Case and point: I just had a lender deny a borrower with a 720 mid score going full doc on a Rate Term refinance @ 65% LTV because they re-pulled the gentleman's credit and he opened a new account. Now here's the kicker, this is a CEO who makes $1.3 million a year and has a 6% DTI, $1 million in liquid assets and over $6 million in real estate holdings. It's because of this uncertainty in the market that I had to find something to survive the slump and I did. Ask me how...

If your statement is true, nobody can get any money. Therefore, it's time for us to move on and get another job...

[MzE]

lol I refuse to believe it's seriously that bad. However, I'll take your word for it, I personally do not want to see any numbers like that! :(

[joesheikh]

The market is in a terrible mess. I'm located in Fort Lauderdale Florida and been in the business for just over seven years. It seems that from what I hear the market will continue to stay the same for some time. There are more houses on the market then ever and the foreclosure rate is climbing in record numbers. Hang in there it will come back.

[RoyalCaribbean]

From the the newpapers & tv I hear about the slumping market. I'm sure some areas are doing really well. I'm curious to hear about some areas that are doing well. Please share.

Well Finally Im on here and I can bring some good news and updates from the Caribbean...a blooming market in the Real Estate world.Some of the islands are being taken over and the prices and investment opportunities are through the roof eg. St.Maarten (where i live), St.Barths and Anguilla.Many of you probably never heard of these places but they are rapidly growing markets.Any questions email me at tech @ bluebackyard . com

[spanishproperty]

The global state of the market is on edge so it is not only affecting you guys over in the states but here in Europe as well.

This is by far the worst year any of us have experienced and if it was not for the good start to the year that we had we most probably would have closed this year.

Now we are looking at cutting as much as we can in the way of over heads, we are looking to down size the office as we can't really afford the rent if it continues in the way that it has.

There was a news article on the state of the Spanish property market which stated that a third of the agents are expected to close this year!

So it is not good news all round unfortunately and it looks like it is set to continue.

[doogers]

I would say slow...to very slow.

[wgm007]

Salt Lake is just now starting to slump in the higher end homes. The job market is extremely strong so the lower priced homes $300k and below are still very strong.

[wgm007]

One thing to remember is that as an investor you can make money in any market if you know how to do it.

[flhousesuk]

I'm in central florida and currently down here we are in great buyers market. I am from the UK and a lot of my clients come from that way also! With Pound and $ rates hovering around the 2:1 ratio, slumped mortgage rates, and home prices there has never been a better time for us Brits to buy. For the price of a flat in a UK City (excluding London!) you can buy a 4/5 Bed villa with pool at the current exchange rates! & for the price of a London flat you could buy half a dozen!

[amerisavecareers.com]

DC market is not that bad. However some underwriters are denying loans due to declining market conditions if the ltv is too high.

[soulskier]

Real estate in Argentine continues to appreciate, more or less around 10-15% per year. Great deals still to be had.

[Wally]

The market here in Bell County Texas is doing much better than the rest of the US.

I was just reading in the paper today that sales have been going up steady over the last 4 years while the rest of the US took a huge drop in 2007.

I beleive that has a lot to do with the huge influx of soldiers in this area.

The three major vocations in Bell county (Killeen, Ft Hood and Temple) are Ft Hood (Military), Medical Centers and Education.

Since over 3000 soldiers and their families are being relocated here from around the world, the housing marketing has no reason to slow down.

This is great for my niche in Lease Purchase because most Soldiers don't want to purchase outright until they are sure they want to own in the area.

Other reasons people chose a Lease Purchase over purchasing outright is they want to ensure the house is in good condition before they commit to a sale. Otherwise they are stuck with a lemon and must pay for the repairs. It's just a smart way to buy.

Wally Carmichael
Goggle - wally carmichael lease purchase to see more about what I do.

[fred333]

That is a great point. Especially in this market facing buyers.

[Jim B]

Despite all the news media hype, the markets here are doing just fine. In fact they have been picking up for a while now. In many of the towns that I cover, prices were actually up in 2007 on more homes sold than 2006.

[Wally]

In a market like this it's easy to prove that price is not king to buyers, it's terms.

I've found sellers feel the same way. As long as the terms are right. :cool:

[jayess321]

On Long Island it almost seems neighborhood by neighborhood. Overall we're not far off last year's numbers. There are many homes on the market. But, if a house comes to market priced right, it sells.

[RobM]

For residential, buyers market. Commercial seems to be fairly active, so no issues there. Things have started to pick up in the residential arena though since the weather has been cold up north

[adamwealth]

Buyers have a better hand than they did back in '05, but a few slight changes in behavior are helping snag up and close all kinds of deals!

[Craig@rentalrealproperty]

Things are pretty slow in Akron. We have two for sale and there has been almost no action. It may be because it has been so cold with rain and snow almost everyday. But it is a good time to buy as I just got a new property that was bank owned for 60% of the price they were asking last month when I first looked at the property. I made a bid that I thought was crazy and the bank took it without a counter. Makes me wonder if I could have got it for less....

[DarinU]

My market is awful. I'm in Michigan the Detroit area. I know agents that have turned in there licenses, others are bankrupt. Its a mess. Stuff is starting to pick up a little bit though.

[Good Neighbor Home Buyers]

The market in Denver is great for investors. Some negiborhoods are declining more than others.

[woodlandhills]

it seems like more people now think the bottom has been reached or nearly reached at least. Southern California has been hit hard the last 2 years. But there are so many bargains in my area now that buyers are starting to re-emerge and snap them up. We really need an interest rate cut to be passed onto buyers in mortgage rates. they are still way too high compared to bank lending rates. I dont get why the lenders are still keeping rates so high. A couple of rate reductions over the next few months and I think the market will really come back strong. Oh and the election may help too!
Good Luck all
Evelina

[Jfcal208]

This is a terms market. It is a seller financing with low rate market. It is a soft market.

Sellers will jump at someone that will do a contract for deed or installment sale or other long term thinking. Lease Options are also good here.

Of course foreclosures and short sales.

Wholesalling to rehabbers has hit an all time low here, but sort sales, seller fi and contract for deed are all strategies we employ.
Joe

[Phoenix Realtor]

The greater Phoenix area is recovering nicely IMHO. Many of the buyers that my team worked with for months are now putting ink to paper and closing on homes!!!

[redtailmountain]

We are unfortunate in that many of our buyers are coming from Florida and while they love the property, they can not buy until they can sale their home in Florida. I will say we have been very steady. We have not had as many phone calls as last year, but our sales to visits ratio is very high. Once we get people here they seem to fall in love with the development. One thing we lacked last year was having vertical property available. This year we have a number of homes and condos going up to hopefully fill this void.

[wgm007]

Here in Utah the market is still going strong although we have slowed down somewhat.

[marcosll]

Here on the Costa del Sol in Southern Spain it's extremely quiet right now.

After years booming they overbuilt like crazy recently and with a high euro foreigners are thinking twice.

Here house prices have gone up about 300-400% in the last 8 years while wages have gone up 50%. Not good.

[danb]

San Francisco is doing fairly well. Seems like the closer you are to a major city the better off you are. I feel bad for the Stockton agents/investors/homeowners.

[jamesww]

Houston is booming and our RE market is still good. Despite all this credit market mess we have still been posting positive appreciation rates. In march it did slow down alot when it comes to sales in comparison to 2007 but we still have numbers similar to that seen in 2005. While the rest of the nation has been seeing over all job losses Houston has been posting job gains. We added 60,000 jobs in the first quarter alone. If things keep going the way they are Houston will not see a recession even if the rest of the country does.

[Botman]

Denver is a bit slower than normal

[DrewMurr2]

Bryan College Station Texas is actually doing well especially since I am in the Luxury home market. We haven't been affected much by the down turn. I work for Cortiers Luxury Realty. We only sell luxury homes in Bryan College Station. http://www.Cortiers.com (http://www.cortiers.com/)

[rainier]

Australian RE still doing good though there is a big competition..

[VancouverRealEstate]

Vancouver washington - homes still selling. Yes, price reductions and lot's of inventory but seems home under 250 are doing well

[archimar]

Turkey is booming - luxury villas we sell at time to much....

Best regions at time: Mersin, Bodrum, Antalya, Istanbul
Worthest regions at time: Alanya, Kas-Kalkan

Im surprised while more and more buyers come from the USA :eek:

[Nat_Ferguson]

From the last post in this thread until now, I'd love to hear the same peoples updated responses to the same question. Actually the should be "How is your mortgage market"?

[Susan Zanzonico]

Yes, this post started a while ago, last year.. The market in my are of New Jersey is better, that is for sure. Mortgage...I have clients interested in new construction. They are first time home buyers and 25% down is required.

[Nealrm]

The homes under $200,000 are still selling in this area. The homes over $350,000 are stagnet. It's been like that all summer.

[keystone45220]

Mitch painter has honestly done a great job. If you are looking to invest in real estate I would suggest you email him directly. He works extremely hard and really knows his stuff.