News from the National Real Estate conference

 

As always, if you have any questions, don’t hesitate to contact me.

This past week  I had the privilege of attending a National Real Estate conference in Denver.  I heard from Jim Gillespie, the Presidents of Coldwell Banker, Larry Linger, President of Remix, Earl Lee, President of Prudential and Gary Keller, Keller Williams.  They spoke of the market and what will possibly happen in the future.  They all agreed that the market  pricing was likely to continue  down as a result of the continuing and upcoming mortgage defaults.  The Chart below is a report provided by Credit Swiss which shows this activity. 
0416_option_arm
 They spoke of the fact we are in a 24 hour news cycle, however, it has been historically a 10 year market cycle.  I want to make sure all of you are capitalizing on today’s market pricing, as I’m sure some of you wish you had sold last year. If you are a buyer, there are some incredible buys out there.
 
Also, below is an article from the Star Tribune, July 26, Money section, which outlines the challenges Seller’s face with appraisals.  Please read it in its entirety as it clearly is what we are facing in today’s market.   
 
We have to battle this together to be successful.
 
New Rules Hamper Home Sales 
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