Mike’s Real Estate Show

  Excuse me for not putting up the last couple of radio shows but I was at the Monterey Festival and then at the Keller Williams “Mega Camp” and had to leave early Sunday morning. Last week’s show was taped. This week I’ll have Pete Phillippee join me again and we’ll be discussing the the great interest rates and this shifting market. I’ve written other posts regarding the latest economic predictions for the market from our chief California Association of Realtors economist, Leslie Appleton-Young and also the National Association of Realtors, David Lereah. We’ll be discussing in more detail where this market is going and what the long term predictions others are saying.

  I just got back from Austin, Texas where I and 2500 other top Keller Williams agents shared information on this shifting real estate market. Some areas are in very bad shape and others are doing just fine thank you! In Michigan one Realtor shared that two-thirds of his clients are in financial distress. This is due to the downturn in the auto industry for the domestic manufacturers. It weighed on him and you could see it in his eyes. But he stated that even though many of his properties are on the market over a year, he has yet to loose one. Constant contact is his key. On the flip side the Austin, Texas Realtors all were remarking their market is on an upturn after four and a half years of declining prices and sales! Same thing with South Carolina and certain parts of Florida. However, the vast majority of areas have had sales drastically in reverse. 40-45% in some areas.

  The successful Realtors all emphasized staying in constant contact with their clients who’s home they have now on the market. Also, more exposure to the marketplace and constant feedback as to the market conditions enabled them to properly advise their clients. Actually home prices have not dropped dramatically though a couple of markets have seen 20-30% declines. These declines, as keeping with the research we have done for the show, reflect a single industry with large unemployment–Detroit being the most blatant.

  The above discussed in more depth plus your calls at 707-636-1350. Any and all questions encouraged regarding real estate are welcome!