US Real Estate Directory

[LAHomeSearch]

What are the latest trends prevailing in real estate market?...Is there boom or downfall in the market?
_________________
lahomesearch.com - Los Angeles CA Real Estate and Los Angeles Real Estate Agents

[Gary]

I can't speak for everyone, but up here in Northern California things have slowed way down. Some houses are sitting on the market for a very long period of time. The production of new homes in the area have slowed as well. If the builder can't sell them they aren't building them as fast as they were 2 years ago.
_________________
Thanks for joining US Real Estate Directory !!! Check out our Blog, that is open to the members to announce their real estate site!!!
Get a Free Real Estate Website!!!

[teamsage]

The Southern California market is different than the past 2 years. Is it good or bad? Well I guess it all depends on your vision. I personally look at the market as a living / growing organism. We are currently in a slightly strange market compared to years past, but not necessarily a bad market. In my humble opinion, this is the type of market that separates the true buyers from lookers, the true sellers from market players, and true salespeople from the part timers that made money hand over fist without knowing a thing about marketing or negotiation in years past.

No we are not selling homes as fast as we would like, or as fast as 18 months ago, but we are still selling homes. Yes things have slowed down, but honestly look at the market. Prices are adjusting, interest rates are staying pretty steady, and the market is beginning to become real once again. Remember the mid 90’s, when there were, for the most part, turnkey homes, bank owned homes, distressed homes, and new construction? This brought four types of buyers to the market, with 4 different types of comps and 4 different types of appraisals. I feel we are on our way back to that kind of REAL market. Let’s face it, prices of homes skyrocketed way too fast and some consumers became spoiled, then greedy, and now broke. Anytime we go through a period like we did from 2001 – 2005 we are destine to have an adjustment period.

Oh yea adjusting, that means everyone (agents, appraisers, banks, buyers, sellers, etc.). Think about this for a second. The average experience of a California real estate agent, an appraiser, and private inspectors is less than 6 years. This being said, most of what the public would consider seasoned professionals have never seen or been involved in a market like this. Most of the professionals in real estate jumped onboard within the last 3 to 5 years and have become complacent with their work habits. These are the individuals that I hear crying about the market, continuing to take short cuts with their work, and drag the system down. Come on people, if you don’t like your real estate career and all you’re going to do is cry and moan, please go back to your old job, or whatever you did before you played real estate professional. (Sorry for the rant, can you tell I’m tired of the poor professionalism of hacks?).

Before anyone sends me hate mail please understand that with all of this being said, I am not saying ALL agents, appraisers, loan officers, inspectors, etc. are like this. But from the numbers in my office and the professionals I meet weekly, the 80%/20% rule totally applies. Out of the 80% not making any money, 35%+- are the people that should be reading this and taking a look in the mirror. I truly believe that if we as professionals step up to the plate and diligently work with discipline, then we will have the ability to help get this market a little more under control and bring respect back to our profession.


So, good or bad market, fast or slow market? I think it’s a great market.
_________________
Troy Sage - Realtor - e-PRO
"Residential and Investment Specialist"
http://www.teamsagehomes.com
mailto:teamsage@gmail.com
951-834-2840
or
1-800-641-0452

[Gary]

Great post Troy, I agree.