Market Conditions in 85258>Question Details

Paul Slaybau…, Real Estate Pro in Scottsdale, AZ

How are your markets?

Asked by Paul Slaybaugh, Scottsdale, AZ Fri Jul 13, 2007

I'm curious to hear about market conditions across the country from fellow agents. Statistics and reports are great, but I'd like to hear the anecdotal evidence from the men and women in the trenches. Do you find the greater market forces affecting your personal productivity?

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I am licensed in FL and NJ, but my home base is NJ. Although it is definitely a buyer's market, we were very pleased with our office stats this spring. Summer has definitely slowed more than just the seasonal adjustment. Buyers are cautious. They want to buy, but are uncertain and struggle to make decisions. Sellers are still having a hard time coming to grasp with lower prices and adjusting their price expectations.

Today, I spent part of my day approaching homeowners about their consideration of selling on behalf of a buyer client. Although there are rising inventories, the right property is not there. In search thereof, I was approaching homeowners today.
Web Reference: http://PeninsulaFirst.com
1 vote Thank Flag Link Fri Jul 13, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
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Focusing on the southwest Phoenix valley including Goodyear, Avondale and Litchfield Park the market has seen a decline over the past 12 months. Our statistical peak in pricing was summer 2006. Homes are still selling at a pace equivalent to 2003 and 2004 but our inventory is significantly higher and pricing is down. As soon as homes are absorbed or all together taken of the market we should see some true normalizing.
1 vote Thank Flag Link Sat Jul 14, 2007
Chicago has seen 1.9% appreciation from last year and our days on the market has only increased by two-three weeks in most areas. We have the luxury of having a very large and very diverse economy, so there isn't one industry that carries us. We are a steady-growth market and we don't get the peaks and valleys you see in the coastal US.
1 vote Thank Flag Link Sat Jul 14, 2007
Hi Paul,

Portland is still going strong! While the market has cooled slightly since last year, we see that as a good thing here. Many of wish to see family homes remain affordable for families. Those in the business of buying 'fixers' and flipping them are finding it less lucrative (with a few exceptions). So much of Portland is neighborhood driven, and some are always going to be hot. This is a fantastic city and we continue to attract new arrivals, so I don't expect to see a drastic downturn anytime soon.
1 vote Thank Flag Link Fri Jul 13, 2007
Hi Paul,
Houston is doing great. You can see statistics by visiting http://www.har.com. We have been seeing mutliple offers, shorter list times and the like. Not all Houston areas are doing this well but majority speaking yes. The Greater Houston area has close to 5 million people and we have all price ranges. I feel very blessed to be in this market. My REALTOR friends around the country have been telling me horror stories. I really feel for everyone going thru the housing slump....
1 vote Thank Flag Link Fri Jul 13, 2007
Our market is OK here in GA. I think the big difference between this year and last year is that people are really taking their time, and they are really negotiating much harder. I find a lot of stubborn sellers are sick of the whole 'buyer's market' thing and they would rather pull it off the market than give it away.

I think our average sale price dropped about 10k from last years numbers.
1 vote Thank Flag Link Fri Jul 13, 2007
Paul, I am in Scottsdale AZ and we have seen a nice recovery. We are dealing with some inventory shortages specially in homes $300-$600K. There is still ample inventory in the luxury market, but we have seen a nice uptick in sales in that $750-1.2M range. the fed not changing it's stance should help as keeping rates low is helping some buyers get into a more expensive home.

http://www.buyhomescottsdaleaz.com
0 votes Thank Flag Link Tue Sep 24, 2013
Our market is improving in sales! Jan 08 we had 2707 sales, Feb 08 3236 in sales and March 08 4707 in sales. We still have alot of inventory of over 53,000 houses which is approximately a 13 month supply. No I don't find the greater market forces affecting my productivity, I am not let the mass media to affect my productivity.
0 votes Thank Flag Link Tue May 6, 2008
Seems to be getter better here in Phoenix.....
Web Reference: http://GetPrequalified.com
0 votes Thank Flag Link Mon Nov 19, 2007
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