Timothy Garr…, Real Estate Pro in Philadelphia, PA

Now that 2010 is coming to a close, let's see what everyone thinks about 2011.

Asked by Timothy Garrity, Philadelphia, PA Tue Dec 21, 2010

There are some who say that 2010 was a slow year, and there are others who say 2010 was one of their best years ever. Do you think 2011 will be better or worse than 2010?

All answers and opinions are welcome and appreciated!

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Answers

9
I think 2011 will be better. It has appeared that the market has bottomed out where I am and we have noticed more activity already compared to this time last year. But most importantly there is no tax credit to interefere with the natural course of the market this year. Go Eagles!
0 votes Thank Flag Link Fri Jan 7, 2011
Tim,

Every market whether it is booming or declining has opportunity. The challenge to many is to find it! My experience is to always focus on the people that know you, like you, trust you and that you are in flow with and your business will be successful no matter what the market is doing.

We have a saying at our company, The Group Inc, that you need laser focus and the eye of the tiger to succeed!

Best of luck!
0 votes Thank Flag Link Wed Dec 22, 2010
Hello Timothy,
As you know, real estate should be viewed on a local level. This past year we had the government offering the tax incentive to first time home buyers and some other buyers that qualified as well. With lenders tightening up their guidelines it may be tougher in 2011 for buyers to qualify and we believe that interest rates will rise a bit from their current ultra-low levels.
I've been reading that economists predict prices to remain flat and sales volume to be less the first part of 2011 but expect a slight increase in activity the second half. Of course, much depends on what the economy is doing and most specifically to job stability and unemployment figures. I just do the best I can to market myself and give the best service possible to my clients.
I hope this is helpful.
Best wishes to you for a profitable 2011!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Wed Dec 22, 2010
If you prepare early enough study market trends you don't have to be blind sided. I loved 2010 have completing the prep work for 2011 over past 6 months finishing all over the holidays.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Wed Dec 22, 2010
It's true that everyone controls their own little microcosm and has unlimited potential. But then there's also the crushing reality of economics to deal with.

While it does seem that things are brightening up, I'm not sure how much brighter 2011 will be. There are three big things affecting us agents right now. The first two are that unemployment is high and mortgage money is hard to get. The third, the exodus of agents from the industry has not caught up with the slower market.

In Illinois, the new law requiring everyone to get their broker exam is expected to eliminate about 35-40 percent of the licensed agents. It's estimated that about half of those that do not renew will have already been in a holding company and mostly inactive. Still, reducing the number of agents by that amount will make things significantly better for those of us remaining in the field.

As for the market itself though, I don't see significant change this year. Unemployment seems to have leveled off, as does the steep decline in housing prices. In the past few months, and and overall for the year, there has been a little improvement in sales. In years past, first time home buyers, the group that has the hardest time getting financing, made up at least 35 percent of the total market. So unless unemployment drops significantly or mortgage lenders start loosening up the belt, I don't think there won't be solid growth in sales.

For the real estate market, I expect a slightly better year than 2010. Personally, I expect my little piece of the world will improve a lot.
0 votes Thank Flag Link Wed Dec 22, 2010
Why not put this subject into the blog section of Trulia, so that Realtors may send their opinions....
Edith YourChicago and Northern Illinois Connection
EdithSellsHomes@gmail.com
0 votes Thank Flag Link Tue Dec 21, 2010
I belive there has always been unlimited earning potential in real estate I belive in what I do .And I love doing Real Estate when the market change you have to change your marketing plans.
0 votes Thank Flag Link Tue Dec 21, 2010
I keep reading opinions that are all over the place. One says we'll see start to recovery early 2011, others say we're in this mess for another 2-3 years.

In my area, we didn't see "the crash" until 2009. 2007 was good, 2008 saw a slight blip and then it all fell apart in 2009. 2010 was a year of rollercoaster rides. We'd see a spurt of positive activity, then NOTHING then a spurt, then nothing ... all year long. September and October 2010 were horrible here for us, then November and December went through the roof.

I wish I had a crystal ball and could say "YES we will be great in 2011" but I just don't know.
0 votes Thank Flag Link Tue Dec 21, 2010
Better! I think your approach to everything speaks volumes about the person and professional you are. When things get tough work harder, do more for everyone you are lucky enough to represent and make it count.

Merry Christmas and all the best to everyone for 2011
0 votes Thank Flag Link Tue Dec 21, 2010
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