Quality of Life in Reno>Question Details

Robin Coons…,  in Phoenix, AZ

Has anyone noticed the market in changing?

Asked by Robin Coons SRES, CRS, ABR,SFR, Phoenix, AZ Mon Apr 21, 2008

I am so excited to see Buyers.. All of a sudden things are going into escrow.. How is your market?

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Answers

7
It is so good that you ask the question because we are the first one to know that something is changing. Even if a house did not sell right away and even if it sold for less that asking, we know that 300 people came to look at it. That information is showing nowhere in the statistics ( even the accurate ones) and we know it first hand! A good realtor is knowledgeable and very aware of the trends, not just of the prices of properties.
I know there are people that are just there ... waiting... to buy because now is the time for opportunities and good deals!
Mureil Levin
muriellevin@coldwellbanker.com
0 votes Thank Flag Link Sun May 4, 2008
Incline Village is seeing a lot more sales in the $1 Million and below market, the lower end. a lot of new listings have come onto the market, and happy to see sellers are becoming smarter and pricing them to sell! Their are more buyers getting good values, and it is encouraging to see good deals being snapped up.

I do disagree about it soley being a buyers market. Why? Because some sellers are loosing money on their sale on a lower priced home, but actually gaining value by buying up into a higher price range, and getting great discounts on price in the buy. Just remember, a lot of sellers are buyers too, and they are taking advantage of the market to get their value back in their next buy!

View Incline's "Best Buy's" at BuyTahoeHomes.com link below.
0 votes Thank Flag Link Thu May 1, 2008
I am hearing multiple offers on bank owned properties are occurring so with this it could easily spill over to homeowners who are willing to be priced for the market of today. Yeah, the buyers are coming!!!!!
0 votes Thank Flag Link Wed Apr 23, 2008
According to the Collin County Assoc. of Realtor's March Pulse Report, the number of closed sales from compared to March of 2007 is down -44.6%. Year to Date it's down -35.1%. The average sales price Year To Date is down - 0.2%. Average Days on Market Year To Date went from 79 to 94 and the number of listings Year To Date are down -22.4%. This report is for the City of McKinney, Tx., which is ranked #2 in the fastest growing cities by CNN Money. Clearly we are in a declining market, but it is not plumeting in Texas like other states. It appears to be leveling off a bit.

Regards,
Donde Womack
Keller Williams Realty, McKinney
0 votes Thank Flag Link Mon Apr 21, 2008
I guess it all depends on where you're located. I am in Alameda CA, and yes, we have seen brisk activity in our open houses. There was a pick-up in sales that was really evident in March. And homes that were priced aggressively actually received multiple offers.At this time, I am working with more buyers than sellers (yeeha!) and they're all preapproved and hunting for a good deal. There is also increased interest in short sales and foreclosures especially now that there are more properties to choose from. Although there are horror stories in finding foreclosed homes to be in shambles, there was actually very little of that among the homes I've shown (fingers crossed).

Good luck in your market!
Pacita
0 votes Thank Flag Link Mon Apr 21, 2008
BEST ANSWER
Hi Robin, it's Ron, I agree, I have been in cars looking at homes the last 5 weekends showing homes as both of my buyers agents are generally busy with their own buyers as well as mine. So much for being a listing agent huh!

I am averaging 4 to 10 groups at open houses, way more than in July-August of 07 that's for sure. Escrows are way up, listing inventory is of course spiking up for spring which could add some negative fuel for pessimists. Congrats on Rue D Azur by the way.

There is a liitle bit of a miconception however which is important to keep in mind; on one hand showings have doubled and tripled; however, buyers are looking at 2 to 3 times as much stuff.

Pardon the canned expression; but at the end of the day; you can't fight one of the most dynamic job, outdoor activity and retiree relocation areas in the world, they just need to sell property A to buy B whether it is in California or local, and herein lies the problem.

Now is the time to buy and not sell, it is very simple; buy in a buyers market, sell in a sellers market, I am still working on the concept myself.

Anyhow, nice hearing from you, I love Trulia, it is much more agent and consumer user friendly than others and best of all it is mostly free.

,
Ron Bell
0 votes Thank Flag Link Mon Apr 21, 2008
Hi Robin,

We are seeing a big picup in open house traffic and web site traffice. Shows for our company are running higher than last year. I am hoping that we are beginning to see the light at the end of the tunnel and it isn't a train coming the other way!

Regards,
0 votes Thank Flag Link Mon Apr 21, 2008
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