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Steve Babbitt, Real Estate Pro in Pittsford, NY

How are you as a real estate agent seeing the market in your area? Would you say it is more active than in 2009?

Asked by Steve Babbitt, Pittsford, NY Mon Mar 8, 2010

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In my area, Nassau County, NY, the open houses have been busy; there are bidding wars going on if the property is correctly priced; many qualified buyers and lookers are out looking--overall so far so good.
0 votes Thank Flag Link Mon Mar 8, 2010
Thank you all who have answered my question so far! I the Great Rochester, New York area, we have seen a definite increase in the activity and number of offers on homes for January and February. I personally have participated in multiple offers on many properties in several price ranges!

I would say it is definitely busier this year compared to 2009.
Web Reference: http://RochesterREguy.com
0 votes Thank Flag Link Mon Mar 8, 2010
Steve
At this point in my area, market is strong. However, there are less homes on the market so there are more factors to consider. I think it will continue strong because we are so much more affordable.

I do wonder if FHA raises the percentage down, how will that effect the home buying? I see that having the biggest possible effect in regards to what is happening now. I do not think the first time home buyer credit will have as big of an effect as raising the percentage down. Who knows...

I just always stay on top of whatever is happening in the moment. Interesting change here, I am starting to see homes priced above comps where as last year most homes were priced below comps. Never ending!!!! I just have to say list price, these days has so little value!
0 votes Thank Flag Link Mon Mar 8, 2010
Hi there Steve, Jeanne Feenick from New Jersey reporting - the market is picking up after a very slow January. The fall was robust in entry level price points as a result of the Tax Credit. The only price point to show overall sales increase was the entry level. That seems to have loosed up the log jam and we are seeing more consistent movement across the mid price points. The over a million price points still are slow and it is expected to take some time for those to recover.

The extended and expanded Tax Credit is now kicking in and we expect the momentum to pick up as we get closer to the UC deadline of April 30. We are beginnning to see multiple offers on well priced inventory in our most desirable communities.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Read my Blog: http://www.trulia.com/blog/jeanne_feenick_-_new_jersey/
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Mon Mar 8, 2010
My sales partner and I have had 12 new construction home sales in 2010 so far which has not happened for us in 2 years!!!! Charlotte NC is slowly rounding the corner :)
0 votes Thank Flag Link Mon Mar 8, 2010
Steve, it's hard to say, it's only March. But yes, it's busier now than this time last year. But that could be short- lived. Most people I talk to and stuff I read says the market should be "slightly better" this year across the country. But I've been around a while and I know that predictions aren't worth a nickel these days....
0 votes Thank Flag Link Mon Mar 8, 2010
Hi Steve,

I have seen increased sales in several areas in/around Indianapolis. I
was just comparing 2009 to 2010 sales during the period January 1 -
March 7. Extra good news - price per square foot was up this year over
last.

I haven't checked out all the neighorhoods ... whew ... I hope people who are confident of their employment,
are beginning to move forward with their lives, including buying and selling homes. I hope that's why stats
are looking better here.

I hope the market is looking up in Pittsford and elsewhere.

Regards,

Marita
0 votes Thank Flag Link Mon Mar 8, 2010
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