In the last 30 days, we have seen a roller-coaster of market activity.  We are seeing record closings as compared to the last three-plus years, and, due to the tax credit, that trend is expected to continue through the end of this month.

There are presently 10,121 Active, 2057 pending properties in the CTAR  MLS, pending has fallen from a peak of 2550 on April 30. 

Overall activity on listings is 50% off from it's April Peak, and down about 25-30% from the last 12 month average.  This seriously concerns me.  And, we're back to some of the most ridiculous buyers I've seen.  If I may be candid, they are just asking for crazy things and have no moral integrity about their dealings (some of them).  We've had buyers back out of contracts without legal cause, conduct inspections late and still want the benefit of the repair clause, ask for thousands in repairs, etc.  Rest assured, on your behalf, that is met with a great deal of resistance by us (which sometimes hold things together).  However, at this moment, I'd call the real estate conditions as volatile as at any point during this crisis (we're just not seeing double-digit depreciation, which makes it better for you). 

As for positive activity, we've had 110 sign calls in the past 10 days and 51 web inquiries.  However, we are seeing a concerning web-activity trend, in that, the first 10 days of June produced record Traffic on the web, followed by record-low traffic in the last 10 days (as compared to 2010 as a whole).  In other words, BP, The Euro crisis, week jobs reports, revised earnings (Wall-Street) concerns and the hint of a possible housing double-dip (some are even calling it - although not the majority), we've come to an "activity, screeching-halt" in the last 10 days.  It is my sincere hope that this doesn't continue, because the current activity in the market is very, very unhealthy. 

I'll be reviewing your property today and will follow this email with any recommended price improvements.

Trackbacks (0)

Comments (0)