Or is it getting interesting out there?
I showed to twelve different parties this week, and I put the ball through the basket four times — two of those with Property Management Agreements after COE. At least two leases, too, with other leases still in doubt. I’m working all day from my car, but that’s always been my favorite place to be.
Is it just me, or has the worm turned?
Tom Bryant says:
Yes, it is nuts. Only dark cloud for us is some truly ridiculous appraisals.
Tom
March 19, 2011 — 3:41 pm
Greg Swann says:
I love those crazy appraisals. They almost always break my way. 😉
Your best guess: Is the drought over, or is it just Spring?
March 19, 2011 — 4:07 pm
Damon Chetson says:
Yes. The economy, while never as bleak here in Raleigh, NC as it got in Phoenix, is doing better. People actually have money to hire professionals, including lawyers. The year started off slowly, but it’s gotten much better in the last three weeks.
March 19, 2011 — 4:06 pm
Greg Swann says:
> The year started off slowly, but it’s gotten much better in the last three weeks.
Interesting. The line at Starbucks this morning was out the door. I would love to hear from an orthodontist or a dermatologist. It’s discretionary spending that will tell the tale.
March 19, 2011 — 4:30 pm
Jeff Brown says:
Call frequency has increased somewhat since around mid-February. The percentage of relatively higher net worth investors has also risen. Too early to make a judgment.
March 19, 2011 — 4:59 pm
Sean Purcell says:
I was successfully busier late last year. Since January I’ve been involved in roughly the same number of transactions, but the fall-out rate has increased markedly. Underwriting standards partially to blame, but I’m also seeing clients starting to act the way they did before the financial melt-down: with little or no regard to the agent and/or loan officer. I sense our status as a commodity is returning…
March 19, 2011 — 6:37 pm
Scott Cowan says:
I held an open house last week and had 50 people come through. I set and completed 2 listing appointments and had 2 additional showings of other properties from this one open.
Yesterday I held another home open and made two additional buyer contacts that I will be working with today.
My phone is buzzing and my email inbox is filling. Like Sean mentioned the fall-out rate has increased but the interest in buying in my market appears to have returned. Just like the swallows of Capistrano.
March 20, 2011 — 9:47 am
Rob Chipman says:
I hope you’re right Greg, and good for all of you if you are. It’s looked brutally rough in the US and you guys are due for a change in a lot of ways.
March 20, 2011 — 10:00 am
Meg Hurtado says:
My parents live in Phoenix and are getting primed to retire, so I certainly hope you’re right! The Bay Area is supposedly seeing a slight uptick, but it doesn’t translate to much in terms of how much actual $$ is floating around. We’ll see, I guess.
March 21, 2011 — 9:36 am
Al Lorenz says:
I’ve been the busiest in years since January. A late blast of winter seems to have slowed things the last two weeks, but spring is coming so I expect to be fully booked once again with better weather.
March 21, 2011 — 9:58 am
Jeremy says:
I’m with Al, it’s been busy here since just after the New Year. The only problem has been the freaky weather we’ve had lately, our normal November/December storms decided to show up in Feb/March.
March 21, 2011 — 6:53 pm
Brett Tousley says:
Thankfully, my business slightly increased in 2010. 2011 is ahead of the 2010 pace so far.
It’s not all peaches and cream though, I’m seeing a higher fall out rate and lower average sale.
Many factors for the higher fall out rate which are out of my control.
March 22, 2011 — 10:01 am
Jeff Brown says:
Hey Greg — You made me curious about what I’ve seen in my own business the last few years, since over 90% of my clients, and all properties aren’t local. 2010 was better than 2007-09 combined, and I didn’t do horribly then. This year’s first quarter alone, counting closed/pending, will be over 65% of 2007-09 combined.
Not sure if these numbers offer an insight to home side of the business though.
March 22, 2011 — 10:08 am
Tom Bryant says:
For the most part, I think it is over. I sense a recognition that even if prices go lower in the next year or two, that this is a good time to buy and hold. So we are working with a lot of families, and a fair number of “old school” investors, who are all about the cash flow, and ultimately, gains from appreciation over the long haul.
And your anectdotal evidence of discretionary spending rings true with me. Our two retail stores have continued to post record numbers – we track that very closely; we own 2,000 sq ft of retail space and rent 1,000. Just signed a lease on another 1,000 sq ft to handle the growth, and give us room to expand our internet and corporate sales.
March 22, 2011 — 5:11 pm
Brian Brady says:
There is definitely more activity since January and the fall-out is still unacceptably high. We ate hustling to register and close our pipe before the April 1 Reg Z change. Most everyone in the home loan industry differs on it’s implementation and that will be a cause for delayed transactions
March 24, 2011 — 10:56 am
Richard Stabile Bergen County Real Estate says:
I am as busy as I been in 5 years or more. My team is the same. I think im Bergen County New Jersey, the prices have come down and people need to live somewhere.
March 26, 2011 — 9:08 am