Agent2Agent in Riverdale>Question Details

Kiamazulu M.…, Real Estate Pro in Bronx, NY

Could someone out there tell me how statistically Real Estate Industry is doing right now?

Asked by Kiamazulu M. Ferreira, MBA, Bronx, NY Sat Sep 24, 2011

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Existing home sales are higher by 18.6% (10% in NE) than a year ago & were up by 7.7% (2.7% in NE) last month from the previous month. Pending home sales were down in July by 1.3% (-2% NE) but up overall for the year by 14.4% (9.7% NE).
0 votes Thank Flag Link Sun Sep 25, 2011
Geez, that's easy and impossible to answer. You can visit my web site and click on the "1 Minute Housing Report" and get all sorts of NAR-generated statistics for every major market in the Republic, even some minor markets. But as expressed in previous answers, all real estate is local, usually down to the neighborhood. Even in "good times", there are neighborhoods in decline in terms of demand and price. It's a great business!
0 votes Thank Flag Link Sun Sep 25, 2011
I'm sure you've heard the NAR expression "real estate is local." I see you are an agent in Riverdale, and what applies to you is different than, let's say the Upper West Side, which is a vastly different market right now than the Upper East Side. The national stats have, for the most part, had no bearing on NYC, and NYC is far from one homogeneous market. I'd say do your homework - check market reports from the major NYC companies, do your own search on the absorption rate in Riverdale, and use those market statistics with your buyers and sellers.
0 votes Thank Flag Link Sun Sep 25, 2011
With statistics you will produce unreliable facts from reliable figures.
By having the time to ask the question you already know the answer.
Web Reference:
0 votes Thank Flag Link Sun Sep 25, 2011
Hi: I can definitely tell you how the industry is doing. But we need to meet so I can show you how I figure it out. Each segment is different. Some areas are hot, & others have weak demand. One thing I can say for sure is that the market is not dead. There are plenty of buyers & sellers. The question is can you find them? Are you doing the right things to surround yourself with a pipeline of buyers & sellers who are not working with an agent now? I can help you. We offer a unique style. And we're looking for more agents. And we work in the Bronx. The Bronx is hot! We offer a 70% split with no fees. And if you have any friends who might be interested in joining us, we'll pay you up to $1,000 each for your agent recruits. Please call me at 914-273-9688 for more information. Have a great day. Sincerely, Michael F. Levy, Principal Broker, Grand Lux Realty.
0 votes Thank Flag Link Sun Sep 25, 2011
On the whole the real estate industry is pretty much following the same fate as the US economy. These are challenging times but in some cases there are pockets of encouragement. Las Vegas, Miami, Tuscon, etc, some of the hardest hit locations will likely require years to recover while we see some locations that are witnessing the resurgence of a stronger housing market with prices on the rise.

So statistically, the state of the housing market will depend largely on the specifics of the location(s) in question.

The fact remains that as people are struggling with maintaining home ownership it is also a time of opportunity for those willing to invest time in researching, identify opportunities and accept the risk involved...

The new vision for real estate investment should include one of embracing longer periods of time. The days of 30% plus annual appreciation are history.....gone but not forgotten.


0 votes Thank Flag Link Sun Sep 25, 2011
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