Sunday, September 17, 2006
Real Estate Market Exaggerating Itself
An article was published in the Press Telegram online edition on the 11th of September regarding the reality of the market in regards to agents leaving the business and offices closing. It is the widely held opinion that the market is doing so poorly that offices are closing.
Offices Closing
The article does a good job of pointing out what is really going on. Many people thought a local Realty Executives office on Bellflower Blvd closed due to lack of business. In realty this office moved from 6170 Bellflower to 5822 Adenmoor Ave. In fact in it's place a Century 21 office just opened!
Agents Contribute to the Rumors
The agent community often contributes to the panic themselves. With many agents' production numbers being lower than the previous year they speculate that the problems are affecting everyone. Many realtors speculate that people just aren't buying. An indicator that demonstrates affordability released by the California Association of Realtors shows that affordability is at 23 percent statewide and as high as 39 percent in desert regions. With these numbers more education just needs to get out to both realtors and buyers to help them purchase using First Time Buyer Programs and realize they can get the home that is right for them.
You be the judge of the real estate market!
Offices Closing
The article does a good job of pointing out what is really going on. Many people thought a local Realty Executives office on Bellflower Blvd closed due to lack of business. In realty this office moved from 6170 Bellflower to 5822 Adenmoor Ave. In fact in it's place a Century 21 office just opened!
Agents Contribute to the Rumors
The agent community often contributes to the panic themselves. With many agents' production numbers being lower than the previous year they speculate that the problems are affecting everyone. Many realtors speculate that people just aren't buying. An indicator that demonstrates affordability released by the California Association of Realtors shows that affordability is at 23 percent statewide and as high as 39 percent in desert regions. With these numbers more education just needs to get out to both realtors and buyers to help them purchase using First Time Buyer Programs and realize they can get the home that is right for them.
You be the judge of the real estate market!
