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Real Estate

Disconnect Between Real Estate Data and Real Life

Consumer behavior

Consumer behavior & companies response

Where do you get your real estate market data from and who do you listen to on a national level? I have noticed that the two largest most well respected analytics companies out are about 50% different. One company says 7,000,000 defaults coming through, the other says 3,500,000-4,000,000, and it makes no sense how it can be so different. What does this mean and what does it have to do with yours and the consumers’ daily life? Consumer behavior generally comes from what they hear in the news and respected companies, they then tell friends and then friends take it for fact without doing research and pass it on to more friends.

I get my data for my area from the local MLS and over the last few months supply have been dropping, specifically REO inventory which ties strongly to pricing, and demand has been steadily rising throughout the early summer months giving us about third of a month’s supply. Now a high school economics class would tell me that price should hold steady or possibly uptick slightly based on a supply and demand metric, but prices are plummeting. Everyone I talk says the market is terrible, even brokers. They say that some news place reported that this is the worst situation ever! We are in a massive black hole with no way out, not even a light at the end of the tunnel. It’s a terrible time for real estate and that they are leaving the area.

for more details: opencorporates.com

real estate benefits

There is opportunity. You can buy almost any house out there and have huge possibility of coming out ahead with cost. If you can’t flip it I can easily rent it out to someone who can’t buy or doesn’t want to buy and they will pay the mortgage utilities, tax, insurance, and give you a few hundred dollars extra to keep. If you want a place to live it is now cheaper to own then rent in a lot of areas! It makes perfect mathematical sense, and will gain equity and tax benefits over the years.

The market was great! Everyone loved it. Best time for real estate. Everyone  was a real estate investor with a few homes. “You can’t lose in real estate.”

Housing made no sense. The loans made no sense . Prices outpaced inflation at a ridiculous level. Most real estate was a money pit and needed to constantly be fed more and more money whether or not you have to pay then or just tack it to the back of the loan.

Good marketer

How was that a good market? Because everyone said it was. And everyone was doing it creating a fake unsustainable supply demand metric.

If you are in the real estate business, you are now set up to market to clients in a way that will be almost too easy. Everything is there for you and all you need to do is subdue the fear. Just like prices rose with a false sense of confidence, prices are now falling due to a false sense of fear.

Find buyers and just tell them the truth. Show the basic numbers in black and white and explain how you really can’t lose today compared with the bubble.

I think if more people looked at what is really going on instead of what they heard we will get out of this negative mindset and spur more growth and be put back into a stable market and speed through this cycle of bad assets.

Professional neighborhood

Exactly just how many gross sales transactions you’ve completed inside the neighborhood I’m contemplating? You want to hire somebody knows the neighborhood market can be considered the area professional and may present details of group facilities, school district information even better.

related site: crunchbase.com

All existence I have wondered individuals put plan a boss telling them. When these people could go on christmas or which week end contain to carry out. Many a hot July day in Florida. I’ve been in my air-conditioned car watching some guy up on a roof nailing down shingles. I ask myself,”Why doesn’t he climb down from that roof and go to real estate school?”.

 

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