Inman Poll: Cold properties
By Glenn Roberts Jr., Wednesday, July 9, 2008.Bookmarking Sites
What types of sales transactions are difficult to close in your market area these days: luxury homes, starter homes, condos, new homes, short sales, REOs ... ? Participate in this Inman News poll to weigh in on the topic, and feel free to lend your comments here about why certain types of properties are a tougher sell than others.
Here are the latest results from an earlier Inman News poll, "Which of these items is most vital to an agent in surviving a real estate market downturn?":
0% Figuring out where to distribute data for for-sale properties I have listed.
32% Deciding how to spend my marketing dollars.
25% Knocking on doors, picking up the telephone.
11% Investing in new technology, communications tools.
32% Keeping in touch with past clients.
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Submitted by Riley Smith on July 9, 2008 - 11:48am.
It seems that the mid-priced homes are the most difficult to sell these days. This is the group that is being hurt the most by the slow down in the market so they are less likely to act. Luxury homes in my area are still selling.
Submitted by Chris Frantz on July 9, 2008 - 2:47pm.
Currently in Hernando County homes above the $250,000 price range are not selling well. It looks like individuals are downsizing. Too early to tell if this is long term.
Chris Frantz
Exit Success Realty
Hernando County Florida
Hernando County Real Estate
Spring Hill Real Estate
Submitted by Richard Johnston on July 9, 2008 - 10:54pm.
I would say homes price above $450,000. The only one's seem to be moving are the bank owned homes located in the areas of Reseda, Canoga Park, Van Nuys, and Winnetka.
These areas are generally lower income neigbhorhoods and I believe most of the first-time buyer / 100% financing was used. A typical 3/2 1450 square feet bank owned homes sells for $350K.
Sincerely,
Richard M. Johnston, GRI, ABR, e-Pro
RE/MAX OTB ESTATES
BANK OWNED SPECIALIST - REO
800-820-8924 Toll-Free
818-730-4128 Direct (Mobile/Text-SMS)
818-989-4992 Fax
Richard@estates.la
http://www.estates.la
http://estatesla.blogspot.com/
Submitted by Michael Taylor on July 10, 2008 - 5:08am.
First time homes, super expensive homes, and bank owned homes seem to moving the fastest here. I would say the move up and second and third time home buyers are the homes that are sitting the longest.
Mike Taylor
Noblesville Real Estate | Fishers Homes
Submitted by Jeff Manson on July 10, 2008 - 4:57pm.
Jeff Manson
American Dream Realty
46 Hoolai St.
Kailua, Hawaii 96734
808-792-7040
Personal: Hawaii real estate agent
Company: Hawaii real estate search
Submitted by Jeff Manson on July 10, 2008 - 5:01pm.
Short sales are the toughest to close these days. The banks are getting so many of them and most agents listing them do not have a clue how to work with the banks and get all the proper paperwork to them in a timely manner. The market has slowed a little, but nothing compared to markets like San Diego in California or some others in Florida.
Jeff Manson
American Dream Realty
46 Hoolai St.
Kailua, Hawaii 96734
808-792-7040
Personal: Hawaii real estate agent
Company: Hawaii real estate search
Submitted by Kevin Schmidtchen on July 15, 2008 - 9:37am.
Here in our area of Santa Barbara and Montecito CA, the higher end market ($4 million and above)is still very active with demand outstripping supply.
Condos have been very slow for about a year, but are now getting to a point where you are seeing several pendings a week.
The mid-range from $700,000 to $2 Million is simply mixed across the board.
Bank-owned properties are also selling, but the short sales are proving to be difficult with many buyers backing out.
As far as your poll about what to do...I think being in good contact with your past clients should always be #1.
BLOG: www.SantaBarbaraRealEstateVoice.com
Sotheby's Int'l Realty
Kevin Schmidtchen
Cell: 805-689-6877
Submitted by Justin Britt on July 16, 2008 - 2:52pm.
Interesting (or should I say intelligent) that agents chose "Deciding how to spend my marketing dollars" & "Keeping in touch with past clients" as the 2 most vital aspects of surviving real estate market downturn. These would be the 2 at the top of my list.
--
Justin Britt
Head-Web-Head
Hawaii Life Real Estate Services, LLC
Maui real estate | Real Estate Marketing
Submitted by Ki Gray on July 27, 2008 - 9:14pm.
Short sales have been the most difficult. We can find buyers for them but the banks are difficult to deal with. We have had smaller banks not call back for 3 or 4 weeks with us calling on a regular basis. Its a little bizarre. We have had to submit paperwork multiple times because it was "lost" at the bank office.
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