Are Realtors Too Optimistic?


Are Realtors Too Optimistic?
By Scott Rogers • April 8, 2011
I have been cautiously optimistic about the real estate market improving for almost four years now. Each year, instead of improving, the market declined. So -- would you like to know what I am predicting for the upcoming year in the Harrisonburg and Rockingham County real estate market? I am cautiously optimistic that things will start to improve. Hmmmm........ Now, of course hindsight is always 20/20, but check out my comments back in January 2008 (a bit over 3 years ago): Preparing for the 2008 Real Estate Market "As 2007 progressed, sales increased, and inventory levels decreased. In most price ranges, there is still somewhat of an oversupply of housing – but this will likely continue to correct itself in 2008. As we move through the first quarter of 2008, expect to see a continued gradual increase in the number of sales, and a continued gradual decrease in the inventory of available homes. The continuation of both of these trends will restore a healthy balance between buyers and sellers in our market." Was a healthy balance in the market restored in 2008? No. Things became worse. And then worse yet in 2009. And then worse yet in 2010. So where IS the real estate market headed in 2011? I believe the market will start to incrementally improve this year --- but again, I have thought that for years now, without my beliefs being born out in market realities. And yet as I look to the future and provide projections and predictions to my clients I try to strike a balance between totally unrealistic optimism and totally depressing pessimism. Let me know sometime whether you think I'm striking an appropriate balance: scott@HarrisonburgHousingToday.com Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 23, 2024 (unless otherwise noted).
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