Comments on: Charlottesville Area Statistics Out– Outlook Sobering

By: CAAR Isn’t Pravda, but Accuracy and Truth Should Rank Higher | The Real Estate Zebra

Mon, 23 Oct 2006 18:48:00 +0000

[...] The Charlottesville Area Association of REALTORS recently released the “2006 Third Quarter Market Report.” It bears the headline– “On Pace for Second Best Year for Local Real Estate.” Obviously, this caught my attention. One of the reasons it caught my attention was because I wanted to compare their analysis of 3Q06 to my analysis of 3Q06. Plus, this is my associaiton, and I thought that perhaps they had access to better statistics.What I found was woefully disappointing. [...]

By: Jeff Brown

Jeff Brown — Sat, 21 Oct 2006 18:07:38 +0000

And that’s why shopping at the developer’s store is so much more fun these days. They WILL sell their inventory because they ARE serious.

I just made three buys for a couple clients while visiting Boise and my team there. Brand new homes, never lived in, with over 1,500 square feet each. All for under $230K!

Life is good.

By: Daniel Rothamel

Daniel Rothamel — Mon, 09 Oct 2006 23:02:25 +0000

Jeff,

That is a good observation. If by “not serious” you mean that their homes are grossly overpriced in a refusal to believe the current market conditions, then you would be correct. Unfortunately, many of those people need to sell their homes.

Actaully, much of the increased inventory in our area appears to be in the form of new construction that isn’t selling like it used to.

By: Jeff Brown

Jeff Brown — Mon, 09 Oct 2006 22:55:59 +0000

Yeah, we’re all blowing 0.0 on the breathilizer these days, eh?

I think a silver lining, at least in two of the three markets I’m heavily into, Phoenix and San Diego, is that a large minority of the supply are folks that aren’t serious sellers. I wonder if it’s the same in your region. Just a thought.