It has been said that in the Atlanta real estate market, September and October are great times to take a good cruise or a vacation. I must say that I agree! The phones do not ring too much once the kiddies are back in school. This year in Atlanta seems no different. The summer was kind of a disappointment. We started out with a bang for May and June and then July fizzled as the interest rates went higher. In August "Cash for clunkers" seemed to pull whatever excess cash was in the market...and took it in another direction. Personally I was hoping that once children were back in school the market here would have picked up. It didn't. It is very quiet except for phone calls looking for $5000 homes that buyers will tell you they do not have the money. All and all, we cannot complain, we earned more than last year already and that is a good thing. There is a mixed bag of news to report. Yes inventory is way down, but so are sales. The otehr problem is that if you are working buyers, inventory is trashed. Unemployment in Georig and especially Atlanta is over 10%. The impact of the sluggish economy is clearly evident by the closings of local restaurants can be easily noticed all around town. I am not so sure I agree with the Administration or Bernake that the recession is over! What's taking place in your market right now? I think I am going to take a few days off!
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Hi Jim, we have been extremely fortunate to have stayed busy all summer. Yes, there have been bumps in the road but overall Texas has been very lucky to miss most of the extreme condition that have occurred elsewhere. At this pint I am personally taking on more buyers than listings for the Fall and that's a good thing!
Jim, take your days off my friend. I am sure they are well deserved!
Jim,
It has been busy here in the summer in Charlotte , N.C. People I have been working with most are obviously the first time home buyers. Nothing over 600,000 here is moving, everything that is hot right now is under 250,000. I have seen it getting slower as school has started back up, although like you said..not as slow as last year. Unemployment here has reached record highs, Charlotte being the "banking capital". Hopefully things will look more promising as we come into a new year.
Jim - you are right on! (as usual) Never thought about Cash for Clunkers having an impact on August sales, but I would agree. The first 2 weeks of September have been slow for listings!
Jim, I am finally catching up with my 2008 sales numbers when you subtract my personal property which I sold. I agree with we are at the bottom. I don't agree with all is well. Unemployment recorded and unrecorded is at its highest points in years. We have sold off our income producing property which by the way is my retirement income as well. I believe in think positive but be truthful first. Until things pick up I will just keep working on my Chip shot.
Russell Lewis, Broker,CLHMS,GRI (AvenueOne Properties, Austin Texas Real Estate) Russell, that is very encouraging.
Ray Nellum Fort Smith Real Estate (Warnock Real Estate, LLC.) I think I will take your advice.
Alyssa Roccanti from Lake Norman to Charlotte (Helen Adams Realty) I think Next year will be a lot better than this year. And no complaints for this year...
Patty Keller Virtual Assistant (AnotherME, LLC) Thanks. I do beleive the consumers had to make choices and could not do both.
Frank Rubi Kenner/Metairie LA Real Estate (Frank Rubi Real Estate) Frank, I thank you for your honesty! Same here!
Jim, Every time the government talks about extending the $8,000 tax credit, our phones quit ringing. There is no urgency so lets climb back up on that fence...
Remember when we had weekends?
Paul
Jim-
Judging by our appointment Center numbers in Nashville, we have clawed our way back to approximately 2003 numbers in homes showings this summer. However, average price of a home is leaning to the entry level side.
There is another growing menace, you mentioned it in your post, "Trashed Inventory", my closing attorney is now losing closings because sellers cannot afford to do the repairs! This is on top of the #1 closings killer, appraisals.
Jim, we have seen a surge in activity over the summer, but I think we're sliding back down now. I suspect this recession is not a V...but a W. Let's hope the second half isn't as deep.
Paul Henderson, Realtor ® Lacey & Dupont Washington homes (RE/MAX Professionals & Four Seasons Inc.) Maybe it is better to let it expire and then reinstitute it.
Jim Wood Nashville Real Estate (Crye-Leike Realtors, Inc.) I can believe that. The sellers are out of money. The Atlanta real estate contract we used is an 'options contract.' The buyer does not have to buy, and the seller does not have to sell. I have mixed feelings about it.
Lina Robertson - Realtor Springfield/Ozark Missouri Real Estate (RE/MAX Solutions) I think you are totally right. I feel this is a false bottom, and will be followed by another dip. Most will try to call it a double dip, but what has held it up at this point is government intervention, and it is like putting a band-aid on a dead person.
Hello Jim, we had prices "bump up" from the low starting in March for 3 months, and they are now back toward the low point again. Too many vacant homes being sold, cash for clunkers, and the higher interest rates made the real estate waters murkier than they could have been. Otherwise, 2009 is much better than 2008 for us. Bset of success, and take a day off! John
Alexander-Slocum REMAX Team - Vancouver WA Real Estate (RE/MAX equity group, inc. - Vancouver Washington) Thanks. I plan to be off for a few days. I need it. I am finishing up some post tonight.
Like many of the other posts, we saw a nice bump in July & August, but phones are not currently ringing.We expect a low down in our off season in lake property, but if it is a home over $299, it is just sitting.
Joan Snodgrass Tri-Lakes Realtors, Shell Knob, MO (Tri- Lakes REALTORS) I think that is the cae in most places right now. The phones have gotten awfully quiet.