Oct 13, 2008

How's the Real Estate Business in Dallas?

The most popular question of the day, the month, and the year. From the church pew to the school bleachers - everywhere I go, this is the question on everyone's mind. Followed by "When is it going to get better?"

To the first question: I'm busy.

The smart folks are out looking at properties because they know that this buyer’s market and mortgage rates are great. And they know this isn’t going to last. Those solid buyers are looking longer and harder - which takes more time. They have that luxury of really looking at everything out there. I understand that and I'm here to help them.
The loan process is more nerve-wrecking and time consuming as well. But the reasonable interest rates are worth the hassle.
Some sellers are nervous and need extra attention right now. I'm not panicking and have encouraged my sellers to trust my advice in dealing with the current market. Some agents have seen contracts fall out because buyers get nervous with every hysterical headline. Right now it takes more work to get both a contract and to closing.
The last four homes that I’ve listed were ‘relists’ because the first agent didn’t sell it. I think that must be happening a lot as well. All of this equals more work (though not necessarily more money). Fortunately, people have to live somewhere.

As for when it will get better: My prediction is after the election. It won't matter who wins, but the uncertainty will settle down.
[where: 75230]

1 comment:

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