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Real Estate the Year 2007 |
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From Exit_Realtor
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With the holidays passing quickly and the New Years upon us. My attention
turns to Real Estate and the market for 2007. During the holiday season
many REALTORĀ? go in to a slow down with their work and clients. I for one
am not that type, and take the opportunity to build and make contacts for
the up coming years. After all time passes quickly and if I don't continue
with working potential clients I cannot expect to have activity beyond
and forward into the 1st Quarter of 2007 and through out the year.
People still have buying and selling property on their minds during the
holiday season. Homes are decorated with Christmas fair and yards are
extra neat for viewing. The interiors of homes are full of decorations
with Christmas trees and lights. To me it is prime time for viewing
property and for also putting property on the market for sale.
The market did slow nationally somewhat in the 3rd quarter but the slow
down did not have a major impact on the Gulf Coast and Mobile area. Some
new home starts are still on the market. New Home Construction took a slight
down turn. This caused many home builders to add incentives to their pricing
and added perks to sweeten the deal for potential home buyers. Many have
taken advantages of these incentives and have seen significant savings when
purchases were made on a brand new home either at the sheet rock stage or
being built from the ground up.
I don't use or have a crystal ball to tell the future. However I see 2007
as being a great year for home buyers. If inflation and interest rates hold
the turn of the market from a sellers market, that was cause by the recent
storms of the past 2 years, back to a buyers market with positive results
for those dreaming of home ownership. Sooner or later sellers will see the
handwriting on the wall as their properties sit on the market with little
activity and offers to purchase. Sellers will soon have to get out of that
dominate thinking of I can Sell it myself mentality. They will have to turn
back to Real Estate Professionals to help them market their property.
Statistic don't lie, the service of a Real Estate practitioner gains a
better price and faster sale turn around time.
As this transition takes place many will be stuck wondering if it is even worth selling their home as prices come down. Yes that right I said as prices comedown.
Is this a prediction?... well call it what you may. With the absence of
any major storms and the settling of the population in Mobile I see a flatting
of prices. This can be considered my best estimate of the situation as I view
the full spectrum of the market surrounding me and my area. Also with sale and
statistical data I have access to via the MLS being I am a REALTORĀ?. Housing
made a major jump in appreciation in the are in the 1st 2 Quarters then as
interest rates creped upward the market began to flatten. Luckily for
all of us the Rates stopped climbing and settle in around 6 and 7 percent
for those with good credit.
I can monitor the Market and feel comfortable sharing my opinion on things
as they look for my perspective. Being a Listing Agent I am also concerned
about market price fluctuations because it is important in helping potential
sellers arrive at a good list price for properties. This will still ensure a net
profit and at the same time set a fair reasonable price for potential home buyers.
As we move forward into this millennium and the year of 2007 I look forward
to seeing the market change and keep a watchful eye on what is selling , for
what price and how long it has taken a particular property to sell.
Are you thinking about holding off putting your home on the market because it
is the holidays? I say wrong move. Now is the time to be proactive and put
it out there. Once its been on market for about 30 days your property will
be in a great position for potential buyers running around with those rapid
refund checks for a down payment!
Need a Comparative market Analysis? Just contact me! It's FREE!!
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