Rubbing the sleep from my eyes this morning and slurping on the first cup of java before the boyos awoke, I began to read my email off my phone. There was one email that stood out. In fact, it gave me so much of a jolt that I nearly didn’t need any more coffee today…..almost.
The President of Operations at Real Estate One is Dan Elsea. His email to the company was frank but optimistic about where we are as a company and as sales professionals in a rapidly changing market. Specifically the following quote:
Overall, we will appear to “bounce” off the market bottom over the next six to eight months as we work through the mortgage market stabilization and our local economy settles down. Predicting the true market bottom is difficult; we won’t really know it until after a recovery is well on its way.
Also, year to date, the number of leases has risen from nearly 6% of total units to 12%, reaching close to 20% for the month of August. The percentage of leases, like the percentage of vacant homes, are indicators of the direction of the market. For vacant homes, the percentage is running in excess of 40%, with a stable market in the 20-25% range. When both percentages begin to fall, our market will be on the rise.
So the light at the end of the tunnel may not be a train after all, but then, this blog has never advocated a doom and gloom attitude on the housing market. In fact, we continue to recommend to anyone considering buying, that they buy and buy frequently! This is the market within which to make your money! Never before have we seen the combination of the high level of inventory and the low cost of money. If you want to make sure that your purchase now will pay you dividends down the road, now is the time to buy.
If you are a seller, things are not as bad as everyone wants you to believe. Yes, prices are down, inventory is up and competition for the buyers in the market is fierce. But Team366 has a proven marketing strategy that ensures your home is seen by all who might be looking for it.
In addition to our own marketing strategy, Real Estate One has its own proven track record. In fact, here are the stats for our company for August 2007:
Sales Volume for August: $221 million dollars
Number of Homes Sold/Leased: 1,392
Number of Mortgages, Title and Home Insurance policies provided to our clients: 524
We had our listings shown more than 16,000 times
We had over 5,000 buyers visit our open houses last month
We had another record month of visitors to our web sites, over 110,000
Combining Real Estate One’s winning track record and Team366’s professional marketing strategy is a powerful way to ensure your home is seen and sold!
If you are a buyer or are considering selling your home in this market, give us a call at 734.330.2392.
