Tri Cities and Beyond: Sellers market? really?

Sellers market? really?

I have read numerous post lately about seller's markets.  I have questioned some of them, are you really in a sellers market?  I have yet to receive an answer showing me they are actually in a sellers market.  I have a hard time believing anyone has turned that corner. (I'm not saying I'm right, I'm just not seeing it and am not convinced).  There are still so many foreclosures out there, across the nation.  They have not stopped being rolled out, and won't stop for some time.  They directly effect our absorption rate, thus determining whether we are in a sellers market, balanced market or buyers market.  Here in Northeast Tennessee we are still in a buyers market.  Our numbers have smoothed out a little this quarter, but with the influx of houses hitting the market right this minute, the scales are tipping again.

Are you in a sellers market?  Please explain.

Cindy Edwards- text or call me: 423-677-6677 

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My name is Cindy Edwards and I am a Realtor in Tri-Cities Tennessee. We have a very successful Team concept that has something for everyone.  If you are looking to buy or sell in Johnson City, Bristol or Kingsport Tennessee, you have made the right stop here! Please visit our website that is about the Cindy Edwardssurrounding area of the Tri-Cities and helps you realize what a fantastic place this area is to live.  Tri-Cities is close to some very popular areas and boasts Mountains and lakes!

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Comment balloon 13 commentsCindy Edwards • March 26 2012 05:42AM

Comments

Cindy, I brought this up to a broker the other day, and believe here in a certain price point we are in one. There are too many buyers for the available properties. Understand Real Estate is local, come down here and compete with multiple offers on everything under 250k and then question this remark. 

Posted by Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA (Winston Realty, Inc.) over 7 years ago

Cindy what we are seeing here in the Birmingham area is that investors that are flipping properties are aiding the perception of a seller's market.  Those that are doing great work on rehabbing the property and then pricing them right, are highly sought after.  The long term effect is that investors are and will be instrumenting in turning the market around.  Of course hot properties and well priced homes that have been carefully prepared will continue to outsell other properties.  T

Posted by Charita Cadenhead, Serving Jefferson and Shelby Counties (Alabama) (Keller Williams Realty) over 7 years ago

Hi Cindy,

Here the number of homes are limited. So I think it is a sellers market. But when the available homes outweigh the buyers. Then it's a buyers market.

Have a great week ahead.

Best, Clint McKie 

Posted by Clint Mckie, Desert Sun Home, Comm. Inspection 1-575-706-5586 (Desert Sun Home, commercial Inspections) over 7 years ago

It is all local Cindy. . even in my huge market around Washington DC. .they are people experiencing different markets . . I have some of my listings experiencing them 

Posted by Fernando Herboso - Broker for Maxus Realty Group, 301-246-0001 Serving Maryland, DC and Northern VA (Maxus Realty Group - Broker 301-246-0001) over 7 years ago

Hi Winston- That's why I'm asking

Charita- nice information- thank you

Clint- that's terrific

Fernando- yes, it is local- I'm glad to be receiving comments that it really is happening.

Posted by Cindy Edwards, CRS, GRI, PMN - Northeast Tennessee - 423-677-6677 (RE/MAX Checkmate) over 7 years ago

Around here it is still a buyers market, but we are finally on the upswing a bit...have a terrific week!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) over 7 years ago

We are in a sellers market in Phoenix with only two months of inventory on the market. Homes are going fast here.

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (RentVest) over 7 years ago

Overall our inventory is about a third of what it was 3 years ago.  In some price ranges, there have been as multiple offers.  One of my clients last week was one of 20 offers on an REO.

Posted by Kathy Sheehan, Senior Loan Officer (Bay Equity, LLC 770-634-4021) over 7 years ago

Cindy

Found your post from a repost by Kathy above.

I tend to agree with much of what you state here. Granted the inventory here is extremely low as well, (about 2 months supply in the City of Napa, our largest here in Napa Valley) but prices have barely moved up. My humble prediction, this will be the case for about another year and then I think most of the distressed properties will be gone and we are in for a pop in selling prices. My guess 10-20%. cheers cvc

Posted by Curtis Van Carter, Your Napa Valley Broker Extraordinaire (Better Homes & Gardens Wine Country Group) over 7 years ago

Cindy, we have a few very poplular subdivisions that have very low inventory who are experiencing multiple offers. But I wouldn't say Our Market is a sellers market yet.

Posted by Connie Harvey, Realtor - Nashville TN Real Estate (Pilkerton Realtors) over 7 years ago

Thanks I'm really  excited to hear about the great things happening in our country.   appreciate all of your comments and I'm glad to hear I'm wrong!

Posted by Cindy Edwards, CRS, GRI, PMN - Northeast Tennessee - 423-677-6677 (RE/MAX Checkmate) over 7 years ago

Cindy ~ I think so many areas are seeing a lot more properties selling quickly now, and multiple offers ... but we may be far from a seller's market.  It's just hard to quell that enthusiasm and hope for a great year in real estate.

Posted by Maureen Bray Portland OR Home Stager ~ Room Solutions Staging, "Staging that Sells Portland Homes" (Room Solutions Staging, Portland OR) over 7 years ago

Cindy - I am working with more buyers right now but then it is spring and it brings buyers out of hibernation.  I'm seeing a decrease of homes on the market and buyers are sticking to their higher prices too.  Times they are a changing.  I think it's different in all areas of the country.  Hope you enjoy a beautiful Tennessee day! 

Posted by John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me! (Albuquerque Homes Realty) over 7 years ago

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