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Survey Conducted by: Point2 Technologies Inc. Contents:
Real Estate Confidence Index (RECI) Average Index Components: Current Sentiment Short Term Outlook Long Term Outlook Page 4 Page 4 Page 4 Page 3 Page 2
The Real Estate Confidence Index (RECI) was launched in June of 2009, with survey results first publicly released in July of 2009. The RECI aims to provide a forward look at the housing market from the perspective of those most attuned to local market conditions – licensed real estate professionals. The intent of the RECI is to offer a pure street level view of where real estate professionals, based on their opinion and knowledge of local conditions, think the market might be headed, rather than where it has been, without the use of past performance statistics or mathematical projections systems. Decision makers would find it beneficial that RECI survey data likely builds in real estate professionals’ forward looking sentiment based on the health and outlook of their sales funnels as well as recent sales results and local, national or international issues such as the financing environment, government initiatives, geopolitical concerns and other factors not easily reflected in typical past performance based industry reports and projections. The Real Estate Confidence Index survey is conducted at the beginning of each month. The Index is made up of three components and captures real estate professionals’: Current Sentiment, adjusted on a seasonal basis; Short Term (3 – 6 months) forward outlook confidence level; and, Long Term (12 – 18 months) forward outlook confidence level. The median across all three time periods represents the national Real Estate Confidence Index reading for the month. Point2 issues a Survey Report each month, benchmarking national RECI readings against previous periods. The Summary Report also offers qualitative insight into market conditions across the U.S., with a State by State breakdown of respondent market evaluations and feedback for a more in-depth look into market conditions at the local level. The current month’s report reflects results based on an aggregate 1845 usable responses generated from over 50,000 real estate professionals surveyed across the U.S. All survey participants are licensed real estate professionals in the United States including active Point2 Agent real estate listing syndication and website software platform subscribers. The monthly RECI Report can be viewed and downloaded at: www.RealEstateConfidenceIndex.com. For more information, please contact: Roger Noujeim or Carey Tufts T. 888.955.7900 E. RECI@Point2.com
Purpose Geographic Coverage Sample Demographic, Qualification and Sample Size Methodology and Survey Instrument Page 6 Page 5 Page 5 Page 5
Quantitative Findings Qualitative Findings / Respondent Comments About Point2 Technologies Inc. Contact Information Page 45 Page 45 Page 10-44 Page 7-9
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National RECI Rebounds – Up 2.49% vs. February
Brokers and agents reversed three months of declining optimism and pushed the RECI up from 5.63 in February 2010, to 5.77 in March (+2.49%). Prevailing positive sentiment surrounding the current tax credit program due to expire on April 30, 2010, combined with the onset of the typically more active spring season helped to fuel the optimistic outlook. Declining inventory levels in a number of states however emerged as a primary catalyst for price stabilization and was seen by respondents as a key reason for more frequent bidding wars in key states including Florida, on low to mid range priced properties. Amidst the renewed optimism, negative sentiment and apprehension remained apparent in several states, with survey respondents indicating buyer reluctance to commit due to job uncertainty. Pressure on prices was also expected to continue by brokers and agents in most states, driven by current foreclosure inventories, with more expected to hit the market later this year.
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Copy the above code to add the RECI graphic to your website for dynamic, automated monthly updates.
Fig 2: RECI National Monthly Reading
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Fig 3: RECI Variable Components
RECI Component Analysis (three variables / time periods make up the RECI): Current Sentiment
The Current Sentiment component, which tracks respondent sentiment of current market conditions made the biggest jump, moving up 3.49 percent on the 1 – 10 scale.
Short Term Outlook (3 – 6 Months)
The Short Term, 3 – 6 month optimism/pessimism gauge improved 0.87 percent, taking the metric up to 5.76 on the 1 – 10 optimism/pessimism scale.
Long Term Outlook (12 – 18 Months)
The Long Term (12 – 18 months) outlook variable was up 3 percent on the 1 – 10 optimism/pessimism scale. 68.6 percent of the respondent base gave the Long Term RECI component a rating of 6 or higher. 10.5 percent gave the variable a rating of 10 / 10.
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About Real Estate Confidence Index (RECI)
The Real Estate Confidence Index, which tracks the forward looking real estate market opinions of thousands of real estate professionals across the United States, fills a missing link in real estate intelligence by capturing the current, near-term and long-term sentiment of real estate professionals. It is real opinions from real professionals in the field. The Index is produced through a monthly survey of real estate professionals - brokers and agents, who provide their opinion about current conditions in their market, accounting for seasonality, on a scale of one to ten (1 being “bad” and 10 being “good”), and rate their sentiment for market conditions 3 – 6 months and 12 – 18 months into the future on a ten-point scale (1 being “pessimistic” and 10 being “optimistic”).
Because the Point2 Agent (www.Point2Agent.com) community includes many thousands of subscribers, from every U.S. state, the Real Estate Confidence Index survey gathers data from disparate areas and across many different types of markets.
“The feet-on-theground perspective only real estate professionals possess is critically important to understanding where the market is, where it is heading and, it simply cannot be captured by traditional measures.” Saul Klein, CEO, Point2 Technologies.
Sample Demographic, Qualification and Sample Size
The RECI survey is circulated to the Point2 Agent listing syndication and website platform user base across every state in the country, and to tens of thousands of additional brokers and agents nationwide. All survey recipients and respondents are licensed real estate professionals in the United States, the majority being active members of Point2 Agent. Point2 surveys more than 50,000 brokers and agents nationwide and typically aggregates between 1,500 and 3,000 completed and usable surveys each month, covering every U.S. State. 1845 real estate professionals completed the survey in March 2010, and 1401 in February 2010. 1622 participated in January 2010, 1213 in December, 2001 in November 2009, 1524 in October 2009, 2493 in September, 3151 in August, 3201 in July, and 3186 in June 2009. While the RECI sample base is relatively significant and may shed light on possible market state and direction, report findings represent the opinions of brokers and agents in their markets and may not reflect actual market conditions and future expectations, and in particular, in parts of the country where the respondent base is relatively small.
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Methodology and Survey Instrument
The RECI is open to over 50,000 brokers and agents from the Point2 Agent community and to thousands of additional real estate professionals around the country at the beginning of each month, for a period of seven days.
“The Real Estate Confidence Index reflects the collective answer of thousands of informed professionals across the country.” Saul Klein, CEO, Point2 Technologies
RECI respondents complete a simple, four question survey delivered and accessed electronically through third party survey solution, Survey Monkey. The data is electronically aggregated, tabulated and median averages surfaced for each of three quantitative questions, including: 1) On a seasonally adjusted basis, how would you rate current market conditions in your area? 1 "bad" – 10 "good" 2) How optimistic or pessimistic are you about the housing market in the near term (the next 3 to 6 months)? 1 "pessimistic" – 10 "optimistic" 3) How optimistic or pessimistic are you about the housing market in the longer term (next 12 to 18 months)? 1 "pessimistic" – 10 "optimistic" The average of the medians of the responses to all three questions makes up the RECI. RECI survey data is also mined at the State level, to provide additional, more granular and localized insight. State by State readings are presented through a heat map at www.RealEstateConfidenceIndex.com. A fourth, open ended qualitative question generates commentary from the respondents, creating an opportunity to capture relevant, localized insight, sentiment and reasoning. A random shortlist of the respondent commentaries is included in this report. The complete transcript for each State can be obtained by sending a request to: RECI@Point2.com. Historical national RECI scores can also be viewed on the RECI website.
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RECI Quantitative Findings – March 2010
The national RECI reading of 5.77 (+2.49%) for the month of March reflects the combined averages of the following three RECI timeline components / variables. 1) On a seasonally adjusted basis, how would you rate current market conditions in your area? 1 "bad" – 10 "good"
“The Real Estate Confidence Index provides a window into the market that did not exist before.” Saul Klein, CEO, Point2 Technologies.
Fig 4: Current Market Sentiment. Average: 5.04 (1 – 10 Scale)
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2) How optimistic or pessimistic are you about the housing market in the near term (the next 3 to 6 months)? 1 "pessimistic" – 10 "optimistic"
Fig 5: 3 – 6 Month Sentiment. Average: 5.76 (1 – 10 Scale)
P age |9 3) How optimistic or pessimistic are you about the housing market in the longer term (next 12 to 18 months)? 1 "pessimistic" – 10 "optimistic"
Fig 6: 12 – 18 Month Sentiment. Average: 6.51 (1 – 10 Scale)
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RECI Qualitative Findings – March 2010 Random Respondent Quotes / Comments, Drawn from Survey Question #4
4) Please describe the conditions in your market, or forces that shape your assessment of future conditions (optional).
For the complete transcript of Comments submitted within a specific State, please email your request to RECI@Point2.com. Where no commentary was offered, the particular State was not included in the list below.
Alabama • “Buyers are interested in foreclosures or large national builders within house financing on new construction and promotional ideas.” • “Too many foreclosures & new construction at dirt cheap prices.” • “Less people trying to buy and financing options stricter than ever.” • “Foreclosures are still adversely impacting the market.” • “Activity began picking up in February and continues to rise!” • “Right now ok, just depends on what Obama decides on NASA's life.” • “People desire to buy because selling prices are within the average budget. However, many can't get a mortgage loan due to credit score or unstable income.” • “Low end houses are selling.” • “It has been slow but I have been having more showings lately with the warmer weather.” • “Employment, Buyers Financing abilities, Lenders stringent control over lending, Excessive inventories that overwhelms us all.” • “Still a buyer's market in the Birmingham, AL area. Great time to buy!” • “Slow economy and slow in real estate.” • “Mortgage money is tight. Buyers are hard to qualify. Market flooded with foreclosures, short sales, and houses in general.” • “BRAC transfers of military & support personnel are bringing several thousand families to our area.” • “Property Insurance Cost & the economy.” • “For a long time the market has been really bad. But things are starting to turn around now, people are coming out of the woodwork wanting to buy houses.” • “New Construction making it easier to get in a home.” • “First time home buyers and families looking to upgrade or down size.” Alaska • “We are an oil state, there isn't as much drilling going on as there could be.” • “Alaska is a proactive state and as such, will survive in future conditions.” • “Tax credits going away, lack of affordable FTHB properties, Major employment industries lagging from world economy, higher rate of short sales and increase of foreclosure notices However all markets are opportunity markets.” • “Sellers upside down, govt incentives going away, buyers don't have DP & closing costs.” • “Future planned infrastructure and available cash in the market.” • “Fortunately the state of Alaska has not seen the dramatic down turn and absorbent numbers of foreclosures that the lower 48 states have.”
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Arizona • “The phone is ringing. We are seeing a lot more activity. People want that 2nd home in the pines to escape to.” • “There are many more foreclosures coming to our market which will keep prices down.” • “Short sales and reo.” • “We need to get the unemployment rate reduced before we will see much increase in sales.” • “Short sales and REO's continue to dominate our market...no end is in sight.” • “Busy with first time home buyers wanting to take advantage of tax credit. Low interest rates and an increase in the number of available properties are driving forces in the housing market.” • “More short sales and foreclosures on the market is keeping prices down so investors and buyers have better opportunity to purchase.” • “Resort or retirement area.” • “Lots of Canadian queries and follow-up trips to visit properties. Must be winter up there!” • “We currently have a lot of foreclosure properties in our area. Although many are losing their homes, investors and first time home buyers are purchasing!” • “Almost everything is REO and Short Sales.” • “US Economy is very weak and getting weaker, not good to stop the down slide of the AZ RE market.” • “Majority of property is short sale or REO, especially in the under $300,000 range.” • “Increase in short sales as banks are attempting to avoid foreclosures. Equity sellers are less than 25% of the market but this is unchanged.” • “The amount of bank owned homes on the market.” • “High rate of Short sales. Great opportunity for 1st Time home buyers!” • “Foreclosures and short sales have flooded the market and lowered values.” • “REO went from 300+ 2009 down to current 80+ showing that the market is beginning to stabilize. Also, single family home Listings in 2009 were over 700 and today down to 400+.” • “80% of the listings are short sales. We are running out of REO and regular listings.” • “We have to continue to chip away at the bank owned and short sale properties. There seems to be a slight uptick in prospective clients taking the next step to commit to a purchase.” • “Foreclosures and short sales.” • “So many businesses closing up....job losses.” • “Properties are selling at a steady rate. Prices are still not increasing in most areas and the market is still made up of Short Sales and Foreclosures.” • “We will have another year or two before we gain on the foreclosures.” • “Abundance of Short Sales and REO's continue to churn the market.” • “Jobs.” • “Interest Rates and end of Tax Credits.” • “The starter market is moving rapidly, the mid market is struggling badly, and the luxury market is still falling.” • “Rock bottom prices, but plenty of buyers, in my opinion a good balance of investors, first time buyers and move up or down buyers, strong rental market as well.”
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Arkansas • “Too much product and not enough qualified people to purchase them.” “HIGHER PRICED HOMES ARE MOVING VERY SLOW AT THIS TIME. THE MARKET IS SLOW. THE BUYERS ARE PEOPLE WITH 401K AND INVESTORS. OTHERS ARE EITHER UNEMPLOYED OR FEARFUL OF LOSING EMPLOYMENT.” • “We sell a lot of rural properties and retirement. These properties are doing well.” • “Market has remained relatively stable and seems to be on an upswing now.” • “Homes are still selling well. We are selling a few a month so for this to be a down time things are going well.” • “Many of my buyers have expected impossibly good deals as a result of media reports that sellers are desperate. Our local market has remained stable and this is not the case here. Sellers will hold out for a better offer most of the time.” • “Our area is a resort market with many vacation home owners, so this market has been effected more with fewer buyers & stiffer banking guidelines for 2nd homes.” California • “50% of our market are REO's, Short Sales with lack of inventory. REO's create price wars in our market!” • “Prices are down, there is strong activity on bargain priced properties.” • “Lots of 1st time buyers.” • “Hard to get loans for clients.” • “Poor.” • “Current inventories are low, short sales and foreclosures are down but buyer interest is growing. There are signs that sellers are willing to come back on the market at more realistic prices and loan money is ample up to 1.5 million.” • “Prices keep dropping.” • “Short sales are on the rise because of incentives.” • “The condition in the valley and surrounding my area is pessimistic.” • “We have massive foreclosures, we'll see if some of this will turn around and slow down on the foreclosures in progress.” • “Short Sales are the norm and banks are re-selling as low-priced REO listings, bring-in multiple offers, causing much turmoil in the selling community.” • “Low inventory, first-time buyers missing out on houses bought up by all cash investors.” • “No saleable Inventory...Short Pays and Banks owned...Few retail sellers.” • “People are still looking for a "deal" and not recognizing the value of the properties.” • “Few conventional sales, short sales and foreclosures with bidding wars, cash/conventional loans preferred.” • “Many buyers, few loans not much inventory.” • “Our market has shifted to a Short Sale market instead of an REO market and I am positioned to excel in it!” • “”Massive amount of unlisted foreclosure properties being held by lenders, yet to be released.” • “Pricing is somewhat stable because it will always be a desirable city but potential state bankruptcy could have indirect effects.”
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• “Some buyers although pre-approved have to go through the listing agent's preferred lender.” • “Inventory is extremely low and the buyers seem to have pulled back and are waiting to move forward.” • “High-end activity rise surprisingly, but still see many short sales/REOs in suburb.” • “Need the tax credit for the market to continue on the uptrend.” • “Appraisals and obtaining mortgages are continue to be difficult and slowing down entire process.” • “Still too many short sales and foreclosures on the books causing prices to remain depressed.” • “The ability to get financing for purchases and refinances is slowing the market. Also all the new regulations for mortgage brokers.” • “Low inventory, depressed prices, rising interest rates - no impetus to buy.” • “Buyers market - good values.” • “The spring selling season is coming up, there are ample buyers waiting, we need more inventory, interest rates are great.” • “The Banks have no idea what they are doing. They are making matters even worse.” • “The prices are coming down to what they should be. Interest rates if remain the same will help mkt grow.” • “Inventory is low.” • “Foreclosures sitting vacant.” • “Bank owned properties still dominate the market, accounting for 50% of all sales. This should continue for the next 12-18 months....inventory is down and interest rates are low. Good opportunities for today's buyer.” • “Primarily Short Sales and REO few equity sellers. the demand is still high with multiple offers. inventory is lagging behind demand.” • “Dropping inventory/supply is increasing prices somewhat and banks are getting better at getting short sales sold so that they do not hang on the market shelf as long as they used to. Supply is decreasing and demand is on the rise.” • “Inventories are relatively low, good houses are moving quickly, fewer REOs more short sales.” • “Short and REO is the future in the next 5 to 10 years Good years.” • “San Diego is a standalone market...The Pacific to the west, Mexico to the south, The mountains to the east...It is always one of the last to go down & one of the first to come up.” • “Short sales and loan modifications are a joke. The market is reo price driven even though the banks are sitting on the properties. Lenders have made it difficult to get loans and i can see that the banks will increase interest rates.” • “We are in a Buyers Market, however the inventory cant keep up. We have multiple offer situations on almost every deal. However prices are still good and the business is out there.” Colorado • “Banks are taking too long to give yes or No answers so it will be hard on general public sales.” • “Definitely a strong buyers' market here. Homes must be priced under value to sell, and buyers expect all of their closing costs to be paid by sellers. Jobs are critical to having a recovery in the housing market.” • “Declining home values, increased days on the market, and low apprasials with spotty lending.”
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• “Mostly a resort market - 90% second homes...we would be among the last to recover.” • “We are a mountain community close to many resorts, we are still seeing interested parties looking for deals and affordable housing.” • “Market is good, not great. First Time Home Buyer Credit is helping in lower priced houses. Over $500K houses are not moving very quickly.” • “Values still declining, foreclosures increasing. Buyers are becoming more active.” • “A lot of foreclosures and Sort Sales. Military is a big source of our business currently or 1st time home buyers.” • “We are a rural area but a breakfast community to Pueblo Co. We are at the base of the Wet Mountains and people want to live here instead of town. We have a shortage of homes for sale. Need more new homes. When banks start lending we will do great.” • “End of tax credits. Number of short sales in the MLS. Number of foreclosures in the system.” • “Inventory is getting smaller, still a lot of foreclosures, if in good condition and priced right houses are selling.” • “HIGH NUMBER OF SHORT SALES AND FORECLOSURES DRAW DOWN VALUES.” • “Less homes are going to be on the market, and the pricing for homes are going to be very good.” • “Still more short sales and foreclosures than normal resale homes. Prices still on the decline.” • “I believe we are in for a tsunami of foreclosures now that the government is requiring lenders to get going.” • “Things are selling especially under the $250K range, multiple offers on many properties.” • “Vacation condo sales are impossible. Lenders won't lend on any project where some are rented short term.” • “Active buyers taking advantage of stable prices and great rates.” • “Many Short Sales... banks seem to be beginning to more responsive.” • “Stagnant.” • “The Colorado Springs market is stronger than many, but with the new crop of mortgage defaults on the horizon I believe we'll see another challenge to the market.” • “REO and foreclosure properties.” • “Denver is a very desirable market, with lower than average un-employment and wonderful amenities.” • “LACK OF JOBS - Financing!!! - Can't get Loans!!! - New changes in the rules requiring re-disclosure delaying closings!!!” Connecticut • “Currently we are seeing the range of 100,000 to 200,000 moving rather quickly. The 200,000 to 400,000 is taking more than double the time and the high end is not really moving at all.” • “Seeing more buyers taking advantage of lower prices.” • “I believe that homes will sell in the coming months.” • “The last few weeks things have picked up with some of our listings selling.” • “My December 2009 and January 2010 were my best months of the last 12 months. Homes have sold, though they were mostly lower priced homes. I cannot comment on February due to being away for the month.”
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• “Too many foreclosures. Concerned about the mortgage rates going up.” • “Towns beginning to show signs of leveling off; however, I have had a huge increase in BPO's in surrounding cities.” • “I believe that the general public is looking to buy now.” • “Overall economy is down but not bad. Fear of buying a home that will go down in value is keeping all but entry level from buying.” • “Jobs are still not available.” • “Short sales are an all time high and buyers are encouraged to wait for the banks responses, so they are now selling more often than not.” • “Buyers taking time on decisions, some multiple offer stories happening, good opportunities available.” • “Westport, CT closed sales more than doubled for the 1st two months of the year, compared to 2009.” • “Right now there are a lot of short sales and foreclosures.” • “We have a lot of sellers with the "wait and see" attitude.” Delaware • “Job loss.” • “I think the market is starting to turn. Houses are being priced realistically, and sales are starting to increase. As the weather improves so will the sales at the beach.” • “FHA delinquency is a concern, they are making it harder to get loans and are the main lender in this area.” • “Anything priced $350,000 or less has a chance of being sold within 6 months. The rest take much longer.” • “I am in a resort area; primarily second and retirement homes. We usually pick up in February each year; it is still very slow for this time of year, and it is March.” Florida • “I cannot understand why the owner cannot stay in their home and their loan be better modified then to let it sit empty in a foreclosed state just to sell to someone else at a much discounted price.” • “Foreclosures in the area or starting to decline.” • “Large amount of short sales and foreclosures still coming our way.” • “IF you are selling Foreclosures the market is good! and we have a lot of inventory.” • “High unemployment.” • “Still many short sales out here, but things are moving!” • “Gainesville is a college town and also has 3 major hospitals including VA. We are also one of the best places to retire. Being inland we miss the hurricanes.” • “We have an influx of buyers within and outside of FL buying Orlando real estate. Orlando was hit hard but is already recovering.” • “Large number of short sales and Foreclosures.” • “Many foreclosures and massive short sales foreclosed properties in very poor condition.” • “We are having more people coming to Florida to buy homes, compare to last year. I have made more commission in January and February than I have made all of last year.”
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• “Though inventory is now not overwhelming, the market interest is tepid and extremely fearful and cost conscious.” • “Low prices, new buyers coming to town from overseas.” • “Prices are down and foreclosures are driving the market down.” • “Prices of homes are way down and the few buyers are looking for still lower prices.” • “Many people looking to buy, problems with mortgage financed transactions.” • “We are currently in need of inventory. We have more buyers than sellers and it is creating bidding wars on homes that are "priced right". If you have a home for sale, please list it with your favorite Realtor.” • “Too many foreclosures and short sales that are holding the market down.” • “There's a high number of foreclosures in our market area.” • “Sales are up, inventory is down and the buyers interest is very high.” • “People think that the prices will go down more, but they don't know and the agents are not telling them this is the best time to buy.” • “Lending standards are very tough. Its hard for first timers to get loans.” • “Increase in sales of existing homes. Slight increase in average sales price.” • “Too much inventory, too many short sales.” • “Good prices for homes. Large supply.” • “70% of all active and sold listings are short sales or bank owned. I'm doing approx. 25 BPO's per week.” • “Credit crunch causing problems and once the tax credit is gone, the few buyers will go as well.” • “Foreclosure and Short sale properties.” • “Lots of foreclosures, short sales and a lot of inventory. Prices are still falling. They need to stabilize.” • “The market seems to be picking up, of course it is mostly foreclosures in the market.” • “A bit behind the some of the Country because this is still a Rural area.” • “Foreclosures and short sales are taking over...banks are making it impossible to close the short sales and foreclosures are setting the market value.” • “Still slowly falling prices; however, sales are stabilizing as fewer homes are on the market.” Georgia • “Foreclosures are still having a big impact on price & are hurting resales.” • “The only sales people want are deals regular houses not short sale or foreclosures are not selling.” • “Calls are popping in the last week, lots of new listings, new clients ready to buy by April 30th.” • “The number of foreclosures on the market is somewhat steady and hopefully will reduce as time passes.” • “We have a high level of foreclosures currently.” • “Over supply of homes at all price levels, new homes are gradually disappearing but foreclosures are abundant and financing is (a good thing) getting tougher.” • “Buyers coming out of the shadows. Formerly scared to buy, now have new confidence, incentivized by tax credit and low interest rates.” • “Activity is picking up and rates are low.” • “Small mountain town ; no work available; builders bankrupt; depend on retirees and Florida buyers.” • “Educate sellers on reality and the market would be great.” • “The market is flooded with inventory which causes buyers to have no urgency.”
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• “Over 50% bank owned or short sales.” • “Luxury second home market.” • “Mad dash for the first time buyer credit... concerned about FHA tightening up. USDA loan is still cranking approvals and closings out.” • “The market has picked up considerably in the last 4 weeks and referrals abound!” • “Difficulty in lender requirements. Large number of foreclosures. Buyer's impression of economy has them hesitant to buy.” • “Excessive inventory.” • “First time home buyers continue to drive the market in my area. Moderate to upscale home sales continue to move at a slower pace.” • “At this time, most first time buyer are buying houses in the one and two hundred thousand range.” • “Over-supply, declining prices and values, tough appraisals.” • “Now there are more restrictions in getting people approved for loans. I believe the government will allow the banks not to be so restrictive to boost the economy and encourage more people to buy homes.” • “Very Slow, Difficulty with Loans, Poor coordination between agents and banks for short sales and REOs, frustrating buyers.” • “Bottom is past, we are stable now, prices should start to creep up soon.” • “On average most homes have multiple contracts on them right now. Its much harder to get your buyer the home because of that competition. More agents are coming back into the market.” • “Conditions in Atlanta are getting better as the weather gets better. The sense of urgency is starting to hit many buyers as the first-time homebuyers credit nears its expiration.” • “I question whether the housing market will continue to gain in this area when the tax credit expires.” • “Lack of financing, sellers upside down, too many foreclosures.” • “Homes are selling with FHA & urban development and are mostly 1st time home buyers.” • “Oversupply, foreclosures and short sales are very competitive.” • “Depleting the foreclosure inventory.” • “I see rental prices low, homeowners losing equity, more short sales and foreclosures, and few qualified buyers. Fear of job loss.” Hawaii • “See lots of interest and feel in next few months people will get that not only is it a good time to purchase but it's as good as it's going to get for a while.” • “Rents and prices are down and more short sales and foreclosures than ever.” • “Short sales are still high, REO listings are down, first time buyer market is strong, but vacation & luxury homes down.” • “A lot of short sales and foreclosures causing the market home prices to decline.” • “More units are selling and lower price listing inventories are drying up.” • “What's being said and what you read in the papers, internet.” • “Financing poor.” • “Declining resales burdened by short & REO's.” • “Prices are continuing to fall and foreclosures/short sale are continuing to flood the market, so although activity is increasing with buyers, the prices are still very low.” • “Prices falling and too many reo s on the market.”
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• “More prospects turning up. More offers are being written. More closings are happening. Less inventory out there.” Idaho • “First Time homebuyers are one of the primary forces driving sales at this time.” • “If interest rates stay down after April 30th as Bernanke predicts, hopefully others will enter the buying arena.” • “Prices are still dropping, but less drastically. REO's & short sales still a big part of the activity.” • “Fear that we haven't reached a "bottom." Gas prices too high to drive to outlying areas.” • “Improving....lots of people are looking for bargains...and there are plenty with the bank owned and short sales.” • “Stabilized with a chance of appreciation.” • “Home prices have dropped and more buyers are in the area to buy. It is getting slightly easier to get loans. If the banks would start making distressed loans assumable we would have a much easier time at evening out the market.” • “I do not see an answer in the short term for our economic problems.” • “The market is currently picking up, may be related to the government’s tax credits before they expire. Once we get past the current short sales and foreclosures, market value will begin to stabilize.” • “Plant openings and affordable housing. Limited number of REO's.” • “Currently we are dealing with a surplus of homes and declining jobs. Once this corrects we should have better times for all. This is all depending on government starting to extract itself from our lives and allowing the free market to work.” • “I don't believe we've reached the foreclosure peak yet, but continuing interest from out-of-area buyers indicates a gradual increase in sales.” • “Tax credits are super heating the entry level market with multiple offers on many listings. Upper end listings have too much inventory still.” • “Lots of Short Sales and Reo's. Job market here is not good.” Illinois • “Extremely high number of foreclosures.” • “Last year 1st time buyer tax credit had more impact. This year not so much.” • “There are less buyers out there. Till we reduce the amount of foreclosures value will continue to be effected.” • “Mostly foreclosures and short sales.” • “Blue Collar community, 12% unemployment, industries leaving state due to excessive corporate taxes.” • “Short sales and foreclosures are dwindling slightly and "normal" homes are now being priced competitively accordingly in this area.” • “STILL TOO MANY SHORT SALES AND FORCLOSURES!” • “Due to MANY mandated financial hoops, I will NO LONGER practice real estate after April 30, 2010.” • “We are experiencing an increase in purchases of distressed properties and flipping. Creating a stabilization and solidifying comparable values.” • “We are in a seasonal area--our season pretty dictates our market. We try to really market during the season.” • “Too many short sales and foreclosures to work through yet.”
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• “As I've stated before, I believe once the financial markets start to loosen the monetary flow into the market and start lending to average Americans again conditions in the market can start improving.” • “Fair to poor market conditions. Need to stop the glut of foreclosures and short sales.” • “Sellers still having to compete with foreclosures. Prices are still down, but sales are up. If sales continue, prices will soon stabilize.” • “It is a buyer's market and buyer's are slow to make decisions.” • “First time buyers are starting to get serious. I think we'll see a lull after April 30...and then values and sales will slowly improve.” • “Foreclosures, short sales, I feel there is another wave coming. Also the lending went from one extreme (to lenient) to the other need to give your DNA now!” • “The high number of foreclosures and short sales listed and coming on to the market. This is my primary specialty.” • “Many short sales and foreclosures. Most of the sales are lower priced foreclosures.” • “Lots of Distressed Properties driving the price of the homes for sell.” • “Market is being driven by the first time tax credit extension.” • “Until all the short sales/foreclosures properties are sold there will be too much inventory. Prices are still coming down, but probably stabilize later this year.” • “Market is being driven by short sales and foreclosures due to lack of work in this area.” • “Buyers ability to get financing, little money for down payments, Condo market is tuff due to lack of knowledge of New FHA guidelines.” • “There are less foreclosures on the market. Banks will streamline the foreclosure closing process.” • “A lot of First Time Homebuyers. Fear that when credit ends, market will fall again.” • “Too many short sales and foreclosures.” • “Strong foreclosure competition.” • “Prices are at all time low for very quality housing. Particularly rehabbed housing.” • “Not many buyers out there.” • “Affordable housing.” • “Foreclosure and REO remain high and tightened lending standards also Unemployment to a lesser degree.” • “Cautious but optimistic.” • “Foreclosures still dominate the market.” • “We are seeing more activity now than in the last year.” • “REO INVENTORY still controls the market, sales are 90% reo properties.” • “Within the state it all depends on the suburb where the houses are located. Some have rebounded but there is still a lot of short sales and foreclosures.” • “Way too much supply. Foreclosures and short sales will continue to dominant.” Indiana • “Unemployment rate is dropping and new business is locating to the area.” • “Tons of foreclosures, short sales etc.” • “Interest rates continue to be low. With the tax credit nearing the end and better weather finally in site, buyers are coming out of the woodwork.” • “Unemployment on the rise.” • “Housing prices are down, there is a lot of activity. I have a lot of buyers wanting to take advantage of the situation.”
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• “The tax credits have really helped.” • “Low end foreclosures are starting to move, but it will take a year or so to completely recover.” • “Real Estate activity in the first quarter of 2010 has been best since early 2008. Hope it's not just the federal buyer rebates and is a sign of true improvement.” • “Lenders are tightening up, short sales are taking longer and giving less commission.” • “Increasing short sales, appraisal and underwriting issues.” • “Picking up.” • “Over 23,000 homes in Marion County available for Sheriff's Tax Sale f0r nonpayment of 2009 property taxes.” • “My real estate business tripled in 2009, and thus far 2010 is sailing right along as well.” • “Lenders seem to be reluctant to loan money.” • “We will see a lot of short sales & REOs.” • “More activity in move up buyers and new construction.” • “Southern Indiana has always been slow and steady. Not it's just a bit slower but just as steady. We are concerned about job losses as we are in a manufacturing belt.” • “Weather has slowed the activity in Feb. and it takes activity to make sales.” • “Very slow, but the weather and activity seem to be improving for the immediate future.” Iowa • “Market is beginning to pick up, but so are foreclosures.” • “Extreme winter weather conditions and poor economy...expect some rebound but slow.” • “Loss of jobs, manufactures, slow economy.” Kansas • “The market was good through Jan 2010 then slowed.” • “Our inventory was on a good decline, but it appears of late that many more houses are hitting the market than buyers are available to purchase.” • “The ongoing loss of employment, continuing Foreclosures and unrealized short sales due the Bank's/Mortgagors unwillingness to negotiate. Hopefully the new legislation will help us all!” • “With the help of the tax credit sales are steady.” • “No jobs and those that have jobs are afraid of spending their money.” • “Too many short sales that never seem to sell. Banks are hard to nego. with.” • “Low Interest Rates, prices of homes beginning to stabilize, lots of buyers just waiting to see what happens with the federal government as well as the state government.” • “NOT ENOUGH INVENTORY--LACK OF CONSUMER CONFIDENCE-BANKS HAS TOO TIGHT OF GUIDELINES.” • “Prices are down but are remaining stable with foreclosures coming up on the market. We are still seeing an influx in short sales.” • “The winter months are typically slower than the rest of the year.” • “Inventory, interest rates, tax credit, down payment requirement and seller paid closing costs.”
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• “We have a Seller's market, which will require new construction and we have new and expanding business.” • “Our market has not been hurt as some have but we are down. I believe the national economy and policies of the current leadership will keep housing from rebounding in the next couple of years.” • “Still a lot of unemployment. The general aviation aircraft industry, which is the backbone of our economy, is not recovering.” • “Low rates/prices likely won't last; pent up demand for good properties; tax credits expire won't renew.” • “Jobs are needed to help people buy homes.” • “Reduced availability of FHA mortgages due to new restrictions & Government not buying Mortgage Backed securities.” • “While some areas are still recovering, our area is experiencing decreased days on market, increased buyer activity and a reduction in inventory.” • “I don't think every Realtor can say what I am about to say, however my business is up 45% this year compared to last year so what I am experiencing is an increase in business when the market conditions are tough.” • “Slow and steady.” Kentucky • “Job market & tax credit expiring will make people shy about making a decision.” • “Lack of proper job growth.” • “I think the economy will improve. Companies will start hiring. People’s confidence will grow. Now that the snow is gone and the sun is shining people are more optimistic.” • “Record low interest rates and incentives are driving buyers which in turn is building the balance of buyers and sellers.” • “Clients being able to get loans.” • “Having a positive attitude; the number of buyers beginning to purchase a home, not just first time home buyers; relocation.” • “Lots of units on the market, but not as many clients.” • “My market is ok. Buyers are out there it getting them financed that is the problem. All the loan products in the world does not help if no one qualifies.” • “Currently conditions are showing signs of improvement. Bank owned properties that are yet to come on the market are going to pull house prices down in some neighborhoods.” • “The difference in how few buyers there are, and how so many jobs have been lost due to the economy.” • “More stable than other parts of the country.” • “Lenders are not cooperating.” • “Getting busier now that it's not so cold/snow.” • “Many foreclosures that are now bank owned on the market and selling at artificially low prices since banks have already received mortgage insurance, payments, and/or down payment amounts.” • “Slow, financing is hard even for the best qualified and sellers are put out and buyers believe they can steal anything on the market.” “Jobs, people need to find work before the economy and the housing market will improve. I see a lot of listings but not a lot of sales in my area.” • “Too many foreclosures remaining on the market, banks "afraid" to loan money, too many buyers with unacceptable debt to income ratio, high rate of unemployment, concerns regarding federal and state government.”
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Louisiana • “Strong building in the 130 to 150K price range.” Maine • “Sorry the Feds are lying! The market is going to get worse...Sales will be UP, Prices way down. IT’S happening NOW!” • “Market is moving this year with land, and houses started. Better than last 18 months.” • “Distressed properties are dominating the market and it appears that will be the market for a while.” • “Still a large number of distressed properties.....” • “We haven't hit bottom yet...Not even Close! The tidal wave is coming up the East Coast..ETA=Maine July2010.” Maryland • “Many short sales and foreclosures making appraisals harder for homes that are not in that situation.” • “The number of distressed properties and financial institutions slow response to short sales.” • “Increase in FHA down payment requirements & decrease in Seller contribution, end of Federal Tax Credit, unemployment.” • “Job layoffs, people are afraid to buy even with the tax credit.” • “Conditions in the metro areas of Washington, Baltimore, and Pittsburgh determine sales in this resort area.” • “Conditions are improving slightly due to home buyer's tax credit.” • “Days on market have reduced in some areas by more than 50% and we have multiple offer on properties.” • “Many foreclosures and short sales still affecting normal selling prices. Public still hesitant to buy or sell.” • “Our activity level has picked up...but buyers are making REAL low ball offers.” • “Lots of REO and short sale.” • “Business is picking up slowly but surely. The large amount of short sales is definitely hurting property values in our area right now.” • “First time buyers are taking advantage of tax credit and low rates. I think it will be next year before we are "stable".” • “First Time Homebuyers, Government controls to shorten short sale approvals!” • “Still quite a bit of inventory and seller who need short sales due to the decline in property values.” • “Increase in job creation in the Washington job market. Incoming electoral staff after election. Increase Consumer confidence.” • “Lack of Conventional housing is driving buyers to the ones that are not short sales /foreclosure. Escalation clauses are back.” • “I see buyers calling and agents scheduling appointments on my listing more than in the past 18 months.” • “Very slow sales activity. Inventory remains at an all time low. Buyers are not taking advantage of the homebuyers credit preprograms available. This fact is disturbing!” • “Economic outlook.”
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• “Tax credits and interest rates will impact the buyers decisions going forward.” • “The Washington D.C. metro area has fared through the recession better than many communities due to employment opportunities with the government, military, & the private sector.” • “Low inventory , many vacant and abandoned properties, long weekly list of auctions on courthouse steps, Short Sales taking forever, loans are impossible to get to closing.” • “Short sales, foreclosures more of the market.” • “Foreclosures and short sales are hitting us now and we are second home market.” • “A lot of junk, 1st timers competing with investors, lots of financing rules, good in middle range.” • “We have 2 markets, the homes under $300K are getting multiple offers, going above list. The homes over $400K are still declining in value about 1/2% per month. The homes over $600K are stagnant.” • “Confidence in the economy.” Massachusetts • “Area of summer recreation and cultural attractions, moderating prices but not drastic downturns. Sellers and buyers conflicted over pricing in the facing of lowering property assessments in towns.” • “JOBS JOBS JOBS.” • “Slow.” • “Second and retirement home market.” • “Seems to be picking up. Perhaps due to the tax credit deadline??” • “Lots of foreclosures. Also, lots of 1st time home buyers trying to take advantage of the federal tax credit.” • “Many self employed have no business and very few prospects. No light at the end of this tunnel at all.” • “Upbeat and properly priced homes move QUICK!” • “Unemployment.” • “Prices have fallen to the point where buyers are coming into the mkt. I have people actively looking after 2+ years of waiting on the sidelines.” • “Activity primarily focused on lower end of market and stimulated by the tax credit with slight ripple effect.” • “Very busy.” • “We are in a second home vacation market, although slow, not dead and it is improving weekly!” • “More foreclosures, short sales coming on ,not enough jobs, low confidence consumers banks are not coop. with us to sell these distress properties.” • “Concern over the economy.” • “Much better market as compared one year ago. Sales are up and pricing showing small increase.” • “Sales have picked up a lot, prices are still down but holding.” • “I do not see any reason to believe that the financial picture is going to improve enough to help the market in the short run.” • “Market conditions...prices are down about 10% compared to last year. However, inventory is still low which helps out!” • “Continued job growth.” • “When properties are priced right they sell fast, just like the old days, overpriced listings die a slow death.”
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• “Low inventory in most price ranges; very little land left to build; houses that are competitively priced are selling; serious buyers are stepping up; buyers who still think it's a "buyers market" are on the sidelines missing out.” • “Slow, not much moving, hard to get loans.” • “Boston has done better than the rest of the US.” • “The first time home buyer credit along with property prices and mortgage rates have created a "perfect storm". I have seen a increase in activity with buyers who feel the bottom is near.” • “We have noticed more houses selling and baby boomers planning their retirement here.” Michigan • “MANY LAYOFFS AND FACTORY CLOSINGS. MOST SALES ARE FORECLOSURES OR SHORT SALES.” • “The tax credit is helping spur the market right now, I think when it ends things will slow down.” • “Lack of jobs in our area has the greatest impact. It is primarily locals or retirees moving in or out of our area.” • “Declining, high unemployment.” • “Busy but prices down and lots of short sales and foreclosures.” • “Lack of jobs makes it increasingly challenging to sell real estate.” • “People are out of work no jobs are available to support a decent living it's a renters' market.” • “Lack of jobs, We will see what happens after the next election.” • “There are people relocating to A2 to work at the U, plus more opportunities are opening up in the state.” • “Values have dropped by 50%, Foreclosures shape the future conditions.” • “Jobs have continued to disappear. Banks continue to be tighter with their money.” • “Regular sales are up, individuals are taking advantage of the current tax credit, market is stable and some more jobs were announced.” • “Foreclosures, short sales, people just walking away.” • “Need jobs for market to return. Not government handout jobs. Free market incentive jobs.” • “Properties just under $100,000 seem to be moving better than 3mos. ago. Near the $200,000 range is more challenging, of course. I think the deadline for tax credits are making many get off the fence right now.” • “80% of people wanting to list are upside down and won't consider a short sale right away.” • “Slower than expected given the tax incentives for first-timers and repeat buyers.” • “People still need to buy or sell real estate.” • “Lack of jobs.” • “Not changing much until more jobs come to Michigan.” • “We are in the heart of General Motors, which is about our only industry so it will be quite a ride.” • “Conditions are poor with high unemployment, loss of job opportunities, city is headed for bankruptcy.” • “Conditions here will get worse before they start to get better because of high unemployment.” • “Foreclosures and unemployment.”
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• “The pessimists are losing money but the optimists are really making good money.” • “Foreclosures have caused housing prices to plummet. We are expected to continue with foreclosures in our market throughout this year. Buyers are getting terrific prices on homes. Many that want to buy, though, are not able to obtain financing.” • “Sales seem to be up.” • “Unemployment is at an all time high due to General Motors closings.” • “Foreclosures predominate current conditions. These conditions will not last more than another year.” • “Job loss.” • “Employment. If it doesn't improve in this metro area, it will take longer for market to improve.” • “Lack of jobs.” • “Things are picking up, and receiving more search calls.” • “Market prices are driven by high #'s of foreclosures.” • “Lansing has MSU and the states government to hold on to. I believe long term housing will come back up.” • “Many short sales...which aren't closing, foreclosures...both bringing prices down even farther.” • “Jobs.” • “Over abundance of short sales and agents who do not know how to handle them.” Minnesota • “Buyers are cautious and nervous. Sellers are anxious.” • “Some affordable housing in our area. Also the tax credit still available.” • “We have managed inventory some, but Interest rates rising and more foreclosures are a given. Buyer confidence is a bit low.” • “Too much inventory and pricing pressure from too many REO properties.” • “Foreclosures continue to rise, rates bound to rise later this year, tax credit ending.” • “Highly concentrated on Foreclosure and Short Sale inventory. Active buyers are in the under $200,000 price point due to first time buyer push from tax credits.” • “Slow to good.” • “Lots of calls and inquires lately. Five PA's in hand already.” • “High volumes of REO and short sales, expectation of falling sales once tax credit expires.” • “We are located in a small town near the Canadian Border which has the appeal of lakeshore properties as well as affordable city homes & vacant land.” • “Better than in surrounding communities, but not at all robust. We are just hanging on doing fewer deals.” • “Although we have short sales and foreclosures the funding programs being offered in Minnesota are really helping buyers.” • “Unemployment- Skilled (College Trained) will be re-hired or Newly hired.” • “I have been contacted by many buyers in the last month.” • “With the buyer rebate we are seeing a decent turnout on our listings, however the future looks rather bleak for the traditional seller.” • “As the economy is slowly starting to improve and more jobs are available the housing market will improve.”
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• “Looking for more families and spinoff companies to move into area when the proposed mines get the go ahead.” • “Slowly improving.” • “Homebuyer rebates will run out and the market will be more difficult.” • “Lots of activity, both buyers sellers.” • “Most of our market is somewhat depressed because of the large number of bank-owned & short-sale properties and the local job market.” • “Short sales and foreclosures - lack of move up buyers – employment.” • “Still too many foreclosures, with more coming on the horizon. End of tax credit will bode negative.” • “Still controlled by the short sale REO situation.” • “Area not as affected by market conditions as some other areas in state have been.” Mississippi • “Prices are continuing to go down. Much more short sales and foreclosures.” • “Foreclosures are driving our sales in this area. Average price range is $125,000 to $200,000.” • “We have gone from Bad to a little better because of the tax credits, but I think unless the job market improves we will see a decline again after April.” • “Conditions would improve on a quicker basis if the lenders would loosen the "tight ropes" from the buyers' neck.” Missouri • “Consumer confidence seems to be on the rise.” • “Starting to see more contracts written, higher priced homes moving for lower than seller wants buyers still moving slow to the gate!” • “A lot of foreclosures in the area hard to find homebuyers that’s approved for market value prices.” • “Lots of new construction being reduced for sale.” • “We need to sell all the foreclosures and then we can move forward.” • “No financing available for most home buyers and no consumer confidence, banks should lower min. credit scores back down to 600 scores you now have to have a 640 to qualify pretty hard in current economy.” • “The economy while not stable is showing signs of stabilizing, the attitude of the country seems to be just a bit more upbeat, locally we have high unemployment numbers but not increasing unemployment numbers.” • “Business has picked up a little.” • “Dull, poor credit on many buyer(S) Tax Stimulus has really helped.” • “My area is a condo market in West St. Louis county and properties are undervalued.” • “Foreclosures & short sales certainly affect other houses pricing and saleability.” • “We haven’t been affected as bad as other areas of the nation. I think we will rebound nicely.” • “The Government Tax Credit is the driving force, and after that expires we'll be looking for other financing opportunities...” • “Commercial is better than residential, if the client can get a loan.” • “Buyers can't qualify, don't have down payment, unsure about their jobs so they don't want more debt.”
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• “This is a seasonal selling area on a large lake. Many homes and condos have boat dock, and due to the new Fannie May and Freddie Mac regulations on what is real vs personal property, has made it difficult for financing and appraisals.” • “Lots of foreclosures and short sales. Makes selling retail very hard.” • “Definite pick up in Open House traffic.” • “GOOD - 4 miles outside largest military training base in US - will always be good.” • “Although there is an unbelievably large inventory for March, buyers want/need the tax credit.” • “Employment remains a serious problem in St. Louis; people are also concerned about losing their jobs.” • “Worried about what happens after the tax credit deadline of June 30th. It has definitely spurred activity in our local market.” • “Job security, being able to sell present home for the right amount of money.” • “Unemployment, layoffs.” • “Commuter city--folks are moving closer to their work.” • “When the tax credit ends so will the sales.” • “Lower prices are really hard for sellers to take and they still want to overprice.” • “Unemployment is still a key factor in my area.” • “Large shadow inventories, higher priced homes going into default, no improvement in the job market.” • “Lack of buyers of mid-priced homes.” • “Market is still down. However, I've switched gears in regards to the type of business I pursue.” • “Longer on market times for listed homes, fewer buyers available, more stringent lending requirements.” • “Slow but starting to pick up.” • “High unemployment.” • “Too many foreclosures and short sales in the market to maintain a decent resale value on existing homes.” • “Fewer quality foreclosures (SFR) for reasonable pricing offered by banks, more FMV homes are being purchased.” • “I think some of our recovery is due to the IRS Tax incentive deadlines. I see things picking up and then crashing this summer/fall as the new deadline expires. We are borrowing buyers from the future.” Montana • “Local market is primarily resort-retirement driven. As national market recovers, demand here will return.” • “CMA's however it is what the sellers owe fin. to bank that is playing a major role in pricing etc.,” • “2ND HOMEAND HIGH END HOME BYERS ARE NOT AT THE CLOSING TABLE; LITTLE OR NO NEW BUILDS.” • “Too much supply- too expensive for most buyers wondering about their jobs. Second homes sales flat.” • “Many foreclosures and no buyers.” • “Processing through the REO inventory.” • “There are Buyers out there looking for the houses that are not at a reasonable priced market to invest in.” • “Lower priced homes are selling, but buyers still hesitate to commit; homes above $400k have few if any buyers. The Job market is still "iffy" which is impacting the buyers decision to buy.”
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Nebraska • “Certain zip codes are selling better than other areas in NE, picky 1st time home buyers, banks making it hard to get loans.” • “Employment stability, commodity prices, agricultural success.” Nevada • “The market should continue to fall for the next 6 to 12 months.” • “Significant sales volume increase in 2009 resulting in a lower inventory.” • “Foreclosure capital --Las Vegas.” • “Lots of foreclosures.” • “The majority of the listings in this area are Short Sales and Bank Owned & they are selling.” • “We are in a high end market of primarily vacation homes, which means people are forced to buy or sell right now.” • “Many, many foreclosures, short sales.” • “Low inventory, banks not releasing foreclosed properties, only short sales to show.” • “Supply shortage, but high unemployment.” • “The volume of available homes on the market.” • “I feel that we need to extend our fist time buyers tax credit.” • “Lack good inventory, many buyers and investors.” • “Still have many foreclosures, but have many buyers and investors taking advantage of the low price, multiple offers on REOs.” • “Unemployment is still around 13% and with the highest property devaluation in the country we still have a long way to go to recover.” • “High unemployment, high foreclosure rate, banks sitting on lots of shadow inventory, low new construction.” • “Unemployment at record highs.” • “Assumption rate.” • “Lender's lack of willingness to loan money to buyers & Lender's lack of willingness to process short sales.” • “Investors are back in the market, multiple offers on properties, inventory is shrinking in certain areas.” • “Adjustable arms set to reset in the next 21 months.” • “Supply of foreclosed properties is declining but supply of short sale properties in increasing. Months of supply is increasing.” • “Multiple offers on many properties.” • “There's only about 9000 sfr on the market....houses are getting multiple offers within days at or above list....it's swinging to a seller's market.” New Hampshire • “Lots of REO's and Builders over built compared to the amount of buyers.” • “Far too many REO's are diminishing market values. Creditworthy buyers are being denied.” • “It just seems very slow!” • “It seems to be busy with the approach of spring. I have received several buyer & listing calls.”
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• “Market values have now mostly stabilized. Competition has lessened greatly; lots of agents leaving the business.” • “Economy, foreclosures still impacting market values.” • “At this point there are a lot of short sales & foreclosures. There has been some activity due to the Home Buyer Tax Credit, so that coupled with the Spring selling season....I think the market is definitely improving.” • “Activity in office--myself and others.” 2nd home and vacation market. Economics in metro Boston, Prov RI, Job security plays a big role with buyers. They still think prices will go lower. They are much more savvy then they have ever been.” • “There seems to be activity but sales seem to be limited. Sales seem to be up, but you need to sell twice as much to meet even last year's dollar amount.” New Jersey • “Loss of tax credit and still abundance of short sales and foreclosures.” • “The inventory is too high and more properties are coming on the market each day.” • “$2.4Trillion in loans recasting; expect default rates over 20%; distressed inventory will flood market.” • “Spring market plus incentives will drive the business.” • “Predicting rates to increase - will get buyers to move now instead of later.” • “Tax Incentives immediate benefit. Spring season for summer moves.” • “Homes that are priced right are selling in 30-45 days. Some with bidding wars.” • “First time home buyer tax credit is driving the market right now.......interest rates will slowly go up and so will the market.” • “Number of sold units has increased.” • “Prices are still too high for some buyers even though priced well.” • “My office is located primarily in a waterfront community. Home prices are priced to sell and, once the economy shows signs of improving,( job increases/ security, retail spending, etc..) things should begin to improve.” • “It is an increase on the new listings. The buyers are still looking at the prices to go further down. The banks do not help the housing market.” • “Many distressed homeowners facing foreclosure.” • “NJ is a very transit state and therefore I feel that this state will do well in future housing market.” • “The buyers tax benefit has stirred up business during what would normally have been a down time, values are rising, still more foreclosures.” • “There are still many foreclosure looming and many short sales in this area. plus the ending of the buyers stimulus.” • “Beginning of the season hampered by weather. We are a resort area with stable prices and increasing short sales.” • “Slow, first time homebuyers not as abundant as first time homebuyers credit.” • “Nearing the deadline for 1st time buyers and move up/down purchases.” • “HOUSES ARE BEING LISTED AND PEOPLE ARE FEELING OPTIMISTIC.” • “I work mostly adult (over 55) communities market. We are hanging in pretty well but the prices are way down.” • “Currently a foreclosure market unless home prices are below assessed value.” • “Stimulus pkg encourages buyers. Homes are beginning to sell at more reasonable prices.” • “Buyer credit is definitely helping right now.” • “Upper end market not seeing to much movement. Fewer buyers.”
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• “Short sales, first time buyers, lack of consumer confidence, buyers market, investors, low ball offers.” • “Prices keep going down. Once the Tax Credit is off the table, I feel the market will slow down again. In addition, unemployment is too high and people are afraid to make a decision.” • “Financing hard to find at this time.” • “Slow but improving.” • “Underpriced houses many DOM.” New Mexico • “Financing in this area for construction is very conservative and building has slowed - demand still good.” • “Our market is highly dependent on retirement community.” • “Overpriced listings bought at the peak of the market, rural area, layoffs and unemployment running out.” • “There are many, many foreclosures and short sales. Once the tax credit leaves, sales may drop off.” • “Our community has a steady growth pattern, and has been recognized as one of the top ten undervalued real estate markets in the country. We continue to attract boomers, retirees, and high tech professionals.” • “Bank owned properties are keeping prices down, but transactions are up due to the tax credit.” • “The market has definitely improved. We are seeing homes in the $300K price range selling quickly.” • “Short Sales becoming REO properties that dampen values. Increasingly difficult mortgage qualification rules.” • “high unemployment but may change.” • “We have bottomed here and some areas are beginning to show some rebound.” New York • “Buyers are cautious, sellers lost hope.” • “So many ????? from homeowners, they know a lot, they know nothing. We are so busy to help with Short Sale, Modification, Investors.” • “Fewer foreclosures and short sales.” • “The majority of landlords do not want to lower rents in this recession making it harder to rent apartments.” • “Resale values holding now.” • “We have a large second home market that is dependent upon the financial security of those working in the NY City area.” • “The amount of foreclosed homes seems to be leveling off, at least in the area of New York that I service.” • “There are lot of people trying to purchase but the banks are not lending so things will not move very well on the market.” • “People have more confidence in their jobs and the economy. Wall street is better so the NY economy is better.” • “# of Contracts in MLS 2009 vs 2008 were UP. Year to date Contracts 2010 vs 2009 are UP.” • “The RE market is fairly stable albeit we've seen housing prices drop or remain the same for the last yr.”
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• “The area in Nassau County, North Shore, has always been a solid market. I think in time it will become better because of the stability and area it is.” • “Inventory is building; buyers are wary -- joblessness & fear of losing one's job seem to be a major factor.” • “If the price is right houses are selling.” • “The Gov't stimulus has helped us to sell lower priced properties especially.” • “A surge of buyers trying to buy a house to take advantage of the $8000 tax incentive.” • “We just need to get through the last of the foreclosure inventory and then we can continue in our recovery.” • “Prices are down, qualified buyers are snatching houses up left and right.” • “Buyers from NYC, long island, and NJ will help keep our market stable.” • “Fed tax credits have stimulated lower end of market to some extent, but erosion of value due to underlying economic factors continues.” • “More layoffs at major employers & buyers seem to be very wary of making a purchase in spite of the extended tax credit.” • “Sales are hindered due to difficult lending requirements.” • “Significant amount of foreclosures, short sales.” • “People Are Very hesitant still.” • “The market is good for me- I work with short sales and investors mostly. So all is very well.” • “8k Tax Credit is driving the market right now.” • “Right priced listings will sell faster.” • “Good properties are always the desirable ones that get top dollar so, sellers will get that message and fix up so it can compete.” • “After 3/31 raising interest rate, and ending 8000 credit, increasing REOs and short sale, we will hit bottom in 2 years.” • “There is still a large unrealistically priced overhang of listings and with the short sales that banks are turning to instead of foreclosures ,only well priced and in most areas low priced properties are selling.” • “Unemployment going up, more layoffs this week. REO, short sales and estate sales majority of sales. Tax credits ending, expect further decline in buyers.” • “Very difficult getting loans on rural properties (most of our market)- low appraisals.” • “Prices dropped and houses are more affordable. In 2 years the market will have a swing up. Educating sellers and buyers are essential.” • “Buyers are afraid to commit.” • “Many buyers don't get loan to purchase property ought to buy, hope bank lends again this may change the prospective of real estate market.” North Carolina • “We have remained above the rest of the nation but our market has still felt the effect. The stimulus packages have helped as well as the rates.” • “Many short sales and foreclosures bringing the mkt value down. Buyers are still on the fence. Lots of homes for sale.” • “Prices continue to drop as sales increase; positive for actual sales, not for sellers and lenders.” • “High unemployment and inability to get a loan.” • “Buyers' confidence in the economy and the job market will have to rise before the market turns.”
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• “Being near a military base, our market is going to be different than the rest of the country.” • “Ups and downs, more foreclosures expected, tax credit end, unemployment up huge number of foreclosures and short sales.” • “Steady.” • “We are currently getting more foreclosures, so the market is dropping still, hard financing does not help.” • “Slow sales, DOM much longer, 11% unemployment.” • “Primarily a 2nd-home market with many from FL. Buyers are MIA. High inventory. Prices challenged.” • “More Buyers have entered the market.” • “Prices are up and down, sales are mostly short sales and foreclosures, and the market is unstable.” • “We have a growing market with the influx of new soldiers coming every day. This is a target rich environment !” • “Transitional location!!” • “Base Re-alignment and Closure bringing troops in. Deployment and PCS also bringing folks in and out.” • “Home sales seem to be on the slow rise, spring will give a better prospective to the 2010 market.” • “State government is actively doing everything to attract new companies and that only mean well for real estate.” • “Currently our market is down because of worldwide disasters and wars sending our troops (primary buyers) in our area overseas. Our market will improve very soon when deployments start to end.” • “Increase interest with both buyers & sellers.” • “Reo's sellers cannot compete with them for the most part Buyers are looking for the best deal.” • “I believe we have a very stable market. We have the blessing of being connected to the largest military base(Ft Bragg) and its continuing to grow. Our city continues to grow into the surrounding counties and I see a very bright future.” • “Prices decreasing leading to lower appraisals.” • “Things are very slow but will start picking up around April and we will probably do well until late October. We are a retirement and tourist area and these are our most productive times of the year.” • “With spring just around the corner we are seeing more buyers coming into the area - the majority of our sales are from out of state - investors, 2nd home buyers, retirement.” • “This is primarily a retirement area(Brunswick) so market depends on other areas for people to sell their homes to move here.” • “Decreased inventory, rise in sale prices.” • “Stability of university and hospital.’ • “Foreclosures are still around our area and hurting many people with their credit and also the selling of their homes.” North Dakota • “We have major oil companies moving to our area buying up commercial and residential homes.” • “Market is strong here but slow downs in other areas of US impact the ability of new comers to buy a home due to being able to sell the one they own in another state.”
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• “Strong energy base, median price adjusted less then 1% last 2yrs, strong job market, low foreclosure rate.” • “09 was the 3rd best year ever in this market, 08 now is the 4th best year ever with 06 & 07 being the best ever.” Ohio • “Employment is making steady improvement. • “Short sales & foreclosures impact value of other properties.” • “Economy still stagnant. Seems like a long way to go.” • “First time home buyers; tax incentive program spurring activity.” • “Foreclosures and short sales are the majority of the market. Lots of work and little pay. I do not see the market increasing at all in the next year.” • “Sluggish due to record snow fall in Feb., expect that activity will pick up.” • “I see more interest, more people coming out to Open Houses, more calls to the real estate office.” • “We still have mostly short sales or repo's.” • “I've been busier the past two months than I've been in my 20 year real estate career but the majority of it is driven by the stimulus. Once that leaves I'm not real confident as to how our market will do..” • “Lack of jobs.” • “Prices have become more stable and buyers are more actively shopping now.” • “Things seem to moving more reasonably, but buyers are still not motivated enough.” • “They are fairly stable and as the banks ease lending a little or the job market picks up it can only get better.” • “Sluggish-good listing that still aren't selling.” • “Houses not selling quickly.” • “Many REO properties.” • “Absorption rate is too high.” • “First Time Home Buyers continue to drive the market of homes under 150K while homes over that continue to move slowly.” • “Average sales have improved over last year by a low percentage.” • “Unemployment rates, foreclosures.” • “Gas prices are rising and tax credit is running out. Shadow Foreclosures are about to drop.” • “The snow is melting and our phones are ringing! Getting better! We listed 40 properties in 3 months time...” • “Fewer repos and pent up demand for homes.” • “Currently, most important key in selling a home is pricing the house right. If priced right, it will sell quickly.” • “Inventory is back to being "high" (14.4 months compared to 8.5 months), interest rates are low, housing prices are favorable, waiting for the tsunami of REO's to hit the market.” • “Stable unemployment at 10.9%, rising foreclosures.” • “1st time homebuyers tax credit is keeping me busy.” • “Great interest rates, inventory of homes going down, tax credits seem to be helping to get Buyers out.” • “Getting Better.” • “Unemployment is a major factor. Likewise, gasoline and mortgage rates are on the rise.” • “Lending guidelines tightening, 1st time buyer expiring, commercial sector worsening.”
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Oklahoma • “Lots of action going on right now and hopefully things will continue to improve.” • “We really have not slowed down to much. Lots of buyers and sellers.” • “Relatively stable since Oklahoma did not experience the excessively high appreciation rates that existed on the East and West coasts. Oklahoma has historical appreciation at about 4%/year.” • “Oklahoma’s housing market is great. Oklahoma did not over inflate prices in our area!” • “Oklahoma is doing well.” • “100-150 price point is the seller..150-200 ok and all else slow...due to unemployment & buyer pool being way short.” • “Still a good deal of Tax Credit Buyers.” • “Oklahoma has experienced a small marginal growth and has not been affected by the bad economic results which have affected the Nation.” • “I personally have had a better Dec-Jan than in years past.... so I am a tad jaded.” • “Slightly up from last year but pretty steady when looking at overall conditions. Buyers are coming out to look. Jobs have been lost in the area but overall it could be a lot worse.” • “Miserable weather has deterred any house shopping this year, but now sun is coming out and expect much better results.” • “The tax credit seems to be driving the market right now. Home over the $250,000 price are very slow to move. Oklahoma City is growing and only going to get better. It is a wonderful place to live and raise a family.” • “Low offers are still very common.” • “Slight increase in values.” • “Higher Buyer optimism is beginning to bring our activity up.” • “Buyer's know they need down payments.” • “Uncertainty will continue to hold housing down until the glut of foreclosures ends and we get solid direction from government on what they plan to do that affects business.” • “It has picked up a lot. Most likely the tax credit deadline though in my opinion.” • “Government stimuli will run out eventually.” Oregon • “This has been a bit of an increase due to Tax Credit-Not sure what will happen when more loans default.” • “A lot of REO's and short sales in our market.” • “Poor job market.” • “The local mill closed 9 months ago and the employment benefits will be ending in aprox. 3 months and there is no new jobs to this area.” • “Lots of buyers at the low end (less than 225k) and we're seeing more and more at the $300-350K mark too!” • “Short Sales and REO keeping prices low.” • “Housing prices are beginning to stabilize. Inventory is lower from its high of over seventeen months to sell all homes on the market to now only seven months! Optimistic that homes will begin to rise in sales price over the next 3 years.”
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• “Some area price is going up.” • “Things seem to be moving (listings and sales) all of a sudden-lots of activity!! WEEE!” • “REO's are influencing sales prices. Buyers are looking mainly at entry level priced housing or luxury homes.” • “Buyers reluctant to buy.” • “There are lots of short sales and foreclosures that continue to come onto the market, which is effecting current sale prices and inventory levels.” • “Short Sales and Foreclosures dominate the market. First time buyers are shopping trying to get something secured for credit deadlines however with so many Short Sales and the timelines for these it is difficult.” • “Losing Tax Credit April 30, 2010 and number of foreclosures on the horizon.” • “Currently we have 16% unemployment in our area, and we have 50% REO's which is keeping the prices below market.” • “High activity level, low inventory pricing driving first time buyers - concerned for next winter with anticipated higher int. rates and increasing REO inventory.” • “Seeing more buyers buying and also looking now with the intentions of buying here in the next year.” • “Property is moving with the end of the tax credit drawing near. We think sales will slow for the remainder of the year and then pick up again next spring if the economy continues to improve.” • “Lack of employment, fear of what the government will do next, fear of continuing falling prices.” • “Joblessness, oversupply, historically excessive ownership, perceived risk of home ownership.” • “Monthly sales are still quite low in all four gorge area counties in OR & WA.” Pennsylvania • “Our market was never affected as much as others. Many first time home buyers.” • “The banks and appraisers are killing our deals.” • “Job market continues strong with low unemployment. Short sales and foreclosures exist but not to the extent I see in some other parts of the country. And the snow is melting!” • “I am motivated and being positive about the future conditions.” • “With the Stimulus for 1st time Home Buyer & Previous Home Sellers looking to sell plus Tax refunds -activity is picking up once the weather breaks hopeful for a Great Spring & Summer.” • “Current business is very slow.” • “The market in R. E in my area is not really good, but it moves slowly. I have hope that it will be all right soon.” • “Our market is different at this time, but been so closed to N.Y. , N.J. States we feel that our market will start soon to recover.” • “Mortgage market, changing rules making it more difficult for home purchase, foreclosures driving market downward, lack of consumer confidence, loss of jobs.” • “Lots of short sales and foreclosures and prices being driven down, but our area is always behind the trend.” • “Repos, REO's, and short sales are selling fairly well, which is our main income presently. The Sellers of retail are shocked at what to expect bottom line compared to their purchase only several years ago.” • “Values still dropping and buyers are more scarce.”
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• “The market has really picked up in the last month. I'm not sure if it is the last of the Tax Credit Buyers or not. We will see how things go after April 30th :)” • “I feel with the 8000.$ tax credit offered and rates staying low will help us sell more homes.” • “Prospective buyers are cautious but motivated by lower pricing and the large inventory they have to choose from.” • “Steady. Small decrease in inventory. Price stabilization.” • “Fairly Stable.” • “Tax credits distorting market.” • “Rates may be rising. Too much inventory, appraisals are coming in low.” • “I have noticed a bit more activity than last year but things are still very slow lots of inventory.” • “Recreational area seasonal use weather is breaking.” • “The Market is as strong or stronger than it has ever been here in Pittsburgh!!!! Slow and steady wins the race!!!! This is the busiest first quarter I have seen in 16 years in the business!” • “People are still losing their jobs & the foreclosures are still going on.” • “Listing prices are more in line with market value, I think--good for stabilizing future business prospects!” • “Status Quo, moving but not hot, people are looking to consolidate, smaller is better, Price under 200,000.” • “Housing in the Philadelphia area is undervalued for the 1st time in ages, it would be a great market if mortgages weren't so difficult.” • “The Pocono market is still suffering from toxic loans resulting in short sale and foreclosure. As a result the property values are down significantly.” Puerto Rico • “Financing is the problem!” • “Many listings, and buyers wants low prices.” • “Private & Government sector were impacted negatively due to the Worldwide economic situation however our market is oriented to properties below $150K.’ • “My market is good.” • “Economy hasn’t been good, but we are still selling, even homes of over $300k.” • “Unemployment.” • “Local economy condition is too deteriorated still. High unemployment rate and too much real estate inventory available.” • “Lot more people are renting than usual. Properties under 200k are moving well.” • “Many REO's; many overpriced listings. Buyers available but cash flow is a major issue. We do however get many calls and hits on our web, so there is a large buyer list, which presents a more optimistic market within the next 6-8 months.” • “Bad.” • “Economy.” • “Lack of Cash flow from potential buyers who qualify with their incomes and debts but don't have cash for closing. Also properties from 200k-500k are stuck because f the same reason.” • “Prices are still going down.” • “The market is bad because our banks are in bad shape and the lending conditions are too difficult even to people with excellent credit.” • “Distressed Market, Slow economical movement, High Unemployment.” • “We are gain up the optimistic of the market and clients are confident to buy.”
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• “Very slow market specially for more upscale properties from $300K and up.” • “A little more confidence in the prospective buyers recently. More calls and visit the last 2 months.” Rhode Island • “There are many foreclosures still happening in the Greater Providence area. Our unemployment rate has helped the market reports to be dire. The rate is currently hovering just under 13%.” • “Very few qualified buyers and those that are qualified are looking to "STEAL" the properties.” South Carolina • “Lots of depressed property is getting bought up creating a bit of urgency with our buyers.” • “Still hard to get jumbo mortgage financing for second home/investment properties.” • “Prices stable, moderate activity, many short sales.” • “Still selling REOs and Short Sales.” • “Foreclosures really driving values down. Homeowner's not willing to list their home due to falling prices.” • “Buyers very hesitant to buy and/or want an even lower price for real estate thinking it has not hit bottom yet.” • “First time buyer price range seems to be up due to tax credit. Concerned about how market will fair once tax credit expires.” • “Brisk sales for primarily new construction and first-time buyers market homes. Slower for higher priced homes - mostly short sales and foreclosures.” • “Listing are increasing and I don't think we see the sharp adjustments in prices like many other markets.” • “The market is getting better each day.” • “Low credit location with few qualified Buyers.” • “Tight money, little to no interest in condo/villa market, Washington, DC dark cloud, etc.” • “Acquisition of Boeing to the Charleston Area.” • “Current turnaround for homes <$250,000 is 4 months. Homes in the $250,000 - $500,000 are selling.” • “Short Sales and Foreclosures continue to drive the market down. We have not seen the last more to come through next year.” • “Until the banks loosen up on lending requirements and our unemployment numbers decline, I think we will still have a tough market.” • “While home prices are still lower than many hope, buyers have not been in short supply recently.” • “High unemployment rates.” • “Stable.” • “The market is picking up I have had more showing in the last two weeks than I had in Jan, Feb.” • “Increased showings, leveling out in list/sale price, increase in homes under contract, increase in closings, New Boeing Plant to impact market.” • “It seems that most people want to rent than buy. Lenders are making it harder for clients to buy.”
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• “I used to only sell second homes... average sales price $800,000 now selling homes in the $300,000 range. The second home buyers are simply not coming.. but I believe when they do they will come in droves.” • “Too many short sales and foreclosures affecting appraisals of all re-sales.” • “Prices are still declining and people are afraid to make offers.” • “Buyers looking to buy prior to the end of the tax credit.” • “Pent up demand in the northeast for the Myrtle Beach area.” • “Market remains slow but we have solid industry moving in and creating jobs. Lots of new commercial and residential construction underway again. It will take 12-18 months to have a decent recovery.” • “Dropping inventory and increase in demand.” • “No one is buying and sellers are unwilling to lower prices to sell in this market.” • “Short sales are still prevailing the market. Many "normal" sellers are still unrealistic with their asking prices. We expect to see more short sales this year than last.” • “New schools being built...lots of land still to grow and build on and people still coming to our state due to new businesses coming to the area.” • “Homes in the $100,000 price range are staying steady. $200,000 are down 3%, and 300,000 and up are down 10%. This is a record low. I look for the market to increase.” • “The ability of people to retire when eligible and relocate from the North & North West. Less Foreclosures.” South Dakota • “Homes in our have not depreciated but have not appreciated much in the last year. We have military, medical and new businesses that keep values from depreciating.” • “The market has been pretty stable. We have been seeing some increase over the past 2 months, we hope that continues.” • “Maintaining dip a little down.” Tennessee • “Unemployment problem--manufacturing keeps closing down in Milan and area.” • “Things in my market this time of year starts to show signs of spring that is a good thing. Buyers are on the move.” • “Resort and retirement community..increased visitors in coming months..more exposure.” • “Not the worst in the country. We are seeing an improvement in nos. of buyers and I think it will improve slowly.” • “First time buyers are active in our market..Tax credit is influencing buyers to make a move now..Foreclosures are still dominate affecting pricing in the market..” • “Front loaded because of the Tax credits. We are "stealing" from the future....” • “The Memphis market is one of the more stable markets in the country.” • “We are behind the curve as things happen in Tennessee 6 to 12 months after they happen in the rest of the nation.” • “Our prices never dropped as badly as some other areas.” • “It's a military town, so people are always coming and going.”
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• “Corporate mega-site is bringing in other businesses which is attracting more people to the area, as well as, the military base.” • “Prices have not declined like the coastal cities have, but consumer confidence is so low, that home purchases are being put off until better times.” • “Our pending Contracts are increasing to almost our highest of last year..market is getting better prices must be in line in order to sell, buyers are having no problem offering 25- 40 thousand less than asking price.” • “Stimulus has helped our market in houses under 100k.” • “First time home buyer tax credit is driving our market. Worried what will happen when it ends.” • “The tax credit is providing a glimmer of hope.” • “Foreclosures, lack of financing availability, lack of job security.” • “Few 1st time and repeat buyers. Consumer confidence low due to job loss & the unknown of future economy.” • “No one is buying unless they have to. This will continue until the uncertainties in the economy are cleared up. Doesn't look like that's going to happen for the foreseeable future.” • “Starting to pick up - hopefully it continues to pick up!” • “A lot of foreclosures in paper.” • “Customers are fearful, wait and see attitude, a lot of unemployment in our area, people don’t feel secure in their jobs.” • “Many Foreclosures contribute to a lower Inventory of Home Sellers.” • “Unemployment.” • “Low sales starting 2010.” • “Change (rise) in interest rates and discontinuation of the tax credit will have a definite impact on the market.” • “Tax credit is still influencing first time buyers..Our average price has dropped each year since 2006 but the number of units sold has increased slightly each year since 2007.” • “My zip code is 37876 and we are in a Tourist area and have lots of 2nd homes that are in foreclosure and are being sold as a "Short Sales".” • “Sitting on the edge waiting for some of that stimulus money to trickle down.” • “The banks screwed it up and they still have no clue on how to correct it.” • “No Jobs cannot get mortgages.” • “Current sales are in the price range of first time buyer cashing in the tax credit. Concerned sales won't last beyond April.” • “We have 4 houses pending in the last 2 months which is a big improvement.” • “Our current market is impacted by the foreclosures and short sales which there are quite a few.” • “Foreclosures are hurting the standard market.” Texas • “After our economy recovers, buyers and sellers will feel more at ease to shop or sell.” • “We are starting to see short sales and foreclosures which we had been immune to.” • “Market is steadily gaining, more closings with an average price a little higher than this time last year.” • “Prices keep falling and buyers are liars.” • “The el Paso market has increasing numbers of first time home buyers and a strong military base.”
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• “Market values have stabled... Currently we have activity for properties less than $150K. Days on Market are high for the TX Hill Country. Currently have a high inventory of properties.” • “Buyers want this area because of the schools.” • “Jobs, Forbes magazine states our area will increase jobs by 8% over the next 3 years.” • “Bad politics.” • “Homes close in to the Houston are doing very well. Also some of the builders in your better subdivisions are doing great.” • “Texas is doing better than most markets. Cost of housing has always been more affordable & employment opportunities diverse.” • “End of tax credit, predicted rise in interest rates.” • “Current market in El Paso is good because of the federal credit and the Ft. Bliss military personnel.” • “Great influx of military, first time buyers and foreign nationals. Great prices foreclosures are down and buyers are plentiful.” • “Lending will be a little easier to get.” • “Forces such as the economy that has affected the job market and consumer credit issues.” • “Job market continues to grow as new companies, manufacturing and military increase mission in San Antonio.” • “I live in area that is always growing. Thank God for Fort bend County.” • “Improved conditions, but still have high foreclosures and job cut-backs.” • “Market is slow due to Hurricane Ike. 3-5 year recover expected. Houston holds steady.” • “The prices are very affordable.” • “Over load of inventory, appraisal laws, and amount of foreclosures.” • “Most of my activity is first time buyers, with the tax credit ending I worry about the future.” • “Stability and new companies.” • “Prices down but holding, a few less foreclosures now, jobs down but holding.” • “Foreclosures.” • “Market conditions are moving up. Sellers who did not need to sell during the slow time are now starting to feel comfortable with placing their properties on the market. However, tighter lending requirements continue to be a problem for some buyers.” • “Job market is improving.” • “Strong local demand due to Stimulus programs along with huge influx of troops to Ft. Bliss and influx of Mexican Nationals moving to El Paso.” • “It is a buyer’s market. People leaving area for work.” • “Incoming military, border patrol and customs personnel.” • “Companies are relocating to the area; we have a lower jobless rate; our housing prices were not overly inflated in the past 10 years.” • “Lending solutions continue to be tight which is really contributing to fewer able buyers.” • “Picking up now because of 1st time homebuyers tax credit. Don't know what will happen when it expires.” Utah • “The current market upswing is fueled by the tax credit, foreclosure bargains and low interest rates.” • “Since January my phone is ringing more each day and I have 2 new listings.”
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• “I think that when the $8000 tax incentive is over it will discourage buyers. The incentive will diminish buyers ability.” • “Home Values are finally starting to come back down to reality, which is so wonderful, based on the average income for the state of Utah, now there is hope for first time home buyers again!” • “Market not too bad overall in this area.” • “Interest rates will rise over the next few months, further eroding home values.” • “Noticing REO properties are maintaining their price point, Short Sales are increasing and out selling REO's.” • “I see some new home construction going on nearby that tells me that developers have some sense of optimism about the future of the market. Some of these are spec homes.” • “23% of our active listings are short sales. This has a definite negative impact on the market.” • “Our economy seems to be holding up fairly good. We have a lot of buyers so inventory has decreased over the past couple of months and I believe that will be the trend through the summer.” • “Many bankruptcies, short sales foreclosures.” • “Very hard for people to qualify as buyers. Too many messed up short sales and foreclosures. Too many people with unrealistic ideas of their properties' worth.” • “Unemployment is considerably lower locally than on the national front, the business economy is good, and housing sales numbers have been up for 7 straight months.” Vermont • “40 - 50% of current business is first time home buyers. Concerned about the ramifications of the end of the tax credit, The Fed' plan to end the MBS purchase program and the new FHA rules...” • “I had a great 2009 real estate year!.” Virginia • “Housing market is relatively stable in Virginia due to employment availability for a high percentage of residents.” • “The ability of buyers to obtain financing, keep their jobs and our local and government economy grow in all sectors. The economy needs to settle out before real estate will come back around.” • “I am in a typical second home resort market.” • “Currently we have around 50% of homes that are foreclosure properties, 25% are short sale properties, 25% Sellers.” • “Lending is the key. The govt. in trying to protect people have added too much bureaucracy.” • “Has picked up with the tax credit but it ends soon.” • “Lots of short sales which are falling by wayside, no congruent/universal way of getting them completed.” • “Many short sales and foreclosures have gone through the market leaving it in a healthier state year over year. In fact, January 2010 shows more than a 20% price increases over same time last year.” • “Our biggest growth before the downturn was buyers moving from areas which were hard hit by the downturn--we slowed later and will likely recover those
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higher-end sales later. Lower prices are moving right along fueled by the homebuyers' credits.” • “This is a rural area in a slow and seasonal market. I do many foreclosures and find the number to be increasing.” • “We are fortunate to have the Military in our area. We also have fortune 500 & 100 companies as well. this helps. Our prices are dropping as they are anywhere else but our sales are staying steady.” • “Very strong market in general (DC Area). However, once tax credit expires and/or interest rates start to rise, I think prices will start to drop again and buyers will be harder to come by.” • “Lowest inventory levels in years & prices are rising accordingly.” • “There are many properties that are getting multiple offers within a week of listing. Most offers above list price.” • “We have been selling many smaller homes, and some larger.. hope we keep the tax credit !!!” • “We have a lot of buyers but unfortunately sellers are in a position of not being able to sell their homes/they owe too much.. This means inventory is way down and we are looking at multiple offers on almost every potential deal.” • “There are lots of Repo's driving prices and unemployment is high having an impact on the market.” • “Relatively stable job market with growth potential from military and govt transfers tempered by expiration of the tax credit and continuing need for short sales.” • “Inventory remains at about 2 mos. worthwhile demand is still very high.” • “Our market is not affected as much as others have been as we are mostly retirement and second home. We did slow but real estate is still moving in our area at a lower price point.” • “Very slow. Buyers are extremely cautious & concerned about employment future. Sellers are much more realistic with pricing compared to same time last year.” • “Major military presence acts as as stabilizer in our area.” • “Military presence helps; desirable location to live and buy (national press).” • “Lots of foreclosures and REOs.” • “Shortage of listings.” • “Prices have gone up a bit because under $200K are moving quicker than the $300K+, and plenty of competing offers.” • “Banking industry, Weather. No complete guidelines to Short Sales or Foreclosures since 2007.Unchartered Waters.” Washington • “Lower priced homes are moving with 1st time buyer's. Homes over $400,000 are talking much longer to sell.” • “My assessment is personal; i doubled my business last year over 2008 and intend to do so again this year.” • “We are on a slow road to recovery! I believe the tax credits have helped stimulate our market locally but am concerned about the market after the tax credits expire. We need to build consumer confidence and support our local economy.” • “The large number of short sales and foreclosures.” • “Need to get foreclosed properties inventory sold.” • “We heard there are 5 more years of foreclosures at 40% of market.” • “Small surge in first time home buyers, still need help in lending.”
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• “The market in my area is still very slow but we have high hopes that within the next few months it will turn back around.” • “Definitely improving.” • “Unemployment rising slightly, tax credit ending soon.” • “New Home buyers are out. Good.” • “The large number of foreclosures being compared by appraisors to Seller Owned homes is offering more homes at lower prices for buyers.” • “Lending, appraising, short sales and reo's..roadblocks everywhere erodes confidence in consumers (buyers & sellers).” • “Our country is on the knife edge, I suspect we will have a flat market because of the US economic problems we are having. Growth will be painfully slow.” • “Number of homes on the market VS Buyers available.” • “It's because the clients are not as afraid as. . .starting a couple years ago. . .people are starting to make their real estate moves based on their lifestyles and family needs. That's a very positive sign to me.” • “REOs controlling the market.” • “Many short sales and buyers coming out.” • “Over 14% unemployment locally. Foreclosures and short sales combined are 50% of sales. If the short sale process is streamlined it could help reduce inventory as buyers are very reluctant to look at them right now.” • “Short sales and REO's are bring prices down still.” • “We have bottomed and moving laterally with upward activity. Prices flat! Negative tone starting to soften and waking up to get out of negativity. Even Realtor attitude is brightening!” • “Lots of short sales houses and houses in terrible condition hard to get regular loans to buy them, also not appealing to first time homebuyers. Multiple offers on REO's.” • “Prices down but holding with new housing drying up. Foreclosures and short sales still effecting market.” West Virginia • “Still difficult for buyers to get loan approval.” • “Buyers are out in abundance, but supply in desirable locations is low right now.” Wisconsin • “Our area seems to be behind the country in foreclosure numbers, economy is depressed in rural area.” • “Low home prices, low mortgage rates now.” • “Lack of good paying jobs; the economy is lagging.” • “The economy is declining faster than reported, this is evidenced by the loss of jobs.” • “I am in a recreational market and in an area that depends on tourist traffic; therefore conditions depend on interest rates and tax incentives for first time buyers and existing buyers along with no tax penalties for 2nd home owners and investors.” • “We have high unemployment numbers with no changes in sight.” • “Way below market value 25%.” • “Buyers apprehensive over employment, and weather conditions are a factor.” • “Too many foreclosures.”
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• “We have a second home market which helps in dollar volume, and a primary home market which is stronger in volume. My assessment of future conditions is shaped by looking at the economy/world as a whole. I am not optimistic.” • “Things are picking up slowly but i truly feel within the next year we should be back in full swing...people are still buying and selling and building and i am thankful for Point2...i have had a lot of e-mails and such come from potential customers.” • “There have been a large amount of foreclosures in our area, which have brought values down.” • “Too many short sales & foreclosures; Bad economy in general; lack of jobs.” • “In Madison higher priced houses are moving very slow while any good house at median price is selling well.” • “Slow sales no buyers, many sellers.” • “The 1st time buyer's credit has really helped me with both buyers and sellers.” • “I am in a primarily secondary market and have seen the effects of this economy on sale prices, list prices, etc.” • “Foreclosures, termination of tax credits, increase in interest rates, uncertain job market will keep the housing market at bay.” • “Strong buyer interest, low rates, many repo investment opportunities.” Wyoming • “We are very blessed where we reside. We are an area that most people want to move to for working, recreation, and retirement. Anymore, people cannot afford Jackson Hole, Wyoming, and so they are now looking to Cody, Wyoming for properties.” • “Our market is down, but not nearly as much as much of the rest of the nation. We are continuing to sell, although slower than previous years.” • “Things are picking up in our area.” • “Completely above 2009 and Buyers are at a fast pace inventory is down. We are going full tilt.” • “Unemployment – foreclosures.” • “Things are still on the slow-down around here but the phones are ringing more.” • “Stable but static market now-some layoffs and slowdowns in building industry, etc. but not major; should improve but not quickly; normal foreclosures.”
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About Point2 Technologies Inc.
500-3301 8th Street East Saskatoon SK S8H 5K5 Canada
Point2 Technologies (www.Point2.com) is one of the first web-based inventory management and online marketing software developers in the world, today serving customers in the real estate and heavy equipment industries in over 120 countries. Building on proprietary and patented technologies, Point2 transformed real estate property marketing and created one of the largest national listing syndication and re-syndication networks in North America. Point2 markets its industry leading real estate listing syndication and website solution, Point2 Agent (www.Point2Agent.com), in partnership with major real estate Multiple Listing Service organizations and Associations, seamlessly reaching and enabling syndication for hundreds of thousands of real estate professionals. Point2 also owns and operates the real property consumer portal, Point2 Homes (www.Point2Homes.com), and the used heavy equipment marketplace, UsedIron (www.UsedIron.com). More information about Point2 can be found at www.Point2.com. ### Point2® is a trademark of Point2 Technologies Inc. All other company and product names may be trademarks of the respective companies with which they are associated.
Toll Free: 888-955-7900 (United States and Canada) Direct (International): Ph: 306-955-1855 Fax: 306-955-0471
For More Information about the RECI
To obtain more information, schedule an interview or to speak with a real estate professional who participated in the RECI survey, please contact: Roger Noujeim Vice President of Public Relations Point2 Technologies Inc. T. (888) 955-7900 E. email@example.com
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