I would like to know about this real estate market business going on. My girlfriend is a realtor and she's in the real estate business. Lately, the real estate market has been going in a slump for the past month and so far, there have been many houses that are having open houses and the houses haven't been sold lately. What is going on? Is the real estate market going to be a slump. Are they going to laid off the agents? I just want to know.
2007-02-12 12:18:12 · 7 answers · asked by KrisMC 1 in Business & Finance ➔ Renting & Real Estate
Sure is funny how every realtor had a crystal ball last year when they all said the market will just keep going up. I guss when the truth hurts they say they do not have a crystal ball.
Slump try crash and the reason why is on this web site.
http://www.breakingbubble.com/index.htm
2007-02-12 15:23:57 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Real estate agents don't get laid off. They just fade away. They work on commission and if they don't sell anything they don't get paid.
I guess it depends on where you live, but where I live, prices were going up 20% a year for the last two or three years. That can't last for ever. A few months back prices went flat, except for the most expensive houses, which went down. Now they're all going down, but slowly. I'd tell you more if I had a crystal ball.
2007-02-12 12:30:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I think you have to look at each area separately. I think yes. Despite what we are being told by our politicians, each dollar is rapidly buying less each year. Many people bought houses that were very expensive in Rio Grande Valley for their budget and as the price of gas went up, repairs were needed and wind insurance went sky high, etc, houses are being repoed so that there is a glut of houses on the market here. They keep building and altho' this is an area of rapid growth, there are too many builders and realtors putting people into houses they really can't afford. A few years ago I had a tough time getting rentors for my duplex. These people were put into houses and now they are losing them and I have no problems finding rentors.
2007-02-12 14:03:39 · answer #3 · answered by towanda 7 · 0⤊ 0⤋
I think it's going to crash in the next year or so, because all the ARM's come due.
There were LOTS of people getting into houses they had no business buying, because they just "knew" it would be worth double in a few years, and then they could sell it and make a bundle.
Well, guess what?
They're going to have to sell those houses because they won't be able to make the payments, and that's going to start happening soon, so there will be more product than demand.
2007-02-13 07:41:42 · answer #4 · answered by dork 7 · 0⤊ 0⤋
I wish I had a crystal ball....... The real estate bubble has let some air out but I think we are looking at a small recovery this summer. Hang in there, her time will come. $$$$$$$$$$
2007-02-12 12:22:48 · answer #5 · answered by johnnyacura5 2 · 0⤊ 0⤋
maybe she should move to an area where the property is booming. because here we are not in a slump of any kind. we have alot of houses selling like hotcakes.
2007-02-12 23:45:58 · answer #6 · answered by swimmyfishy 4 · 0⤊ 0⤋
Buy / Sell / Rent / Lease Properties in Bangalore, Hyderabad, Hosur, Coimbatore, Chennai, Mysore and all over India online at PlacidHomes.com
2007-02-13 18:38:33 · answer #7 · answered by Anonymous · 0⤊ 2⤋