Theres been very little talk from the many agents on this board onwhat has happened to sales the past 6 weeks.i thought we'd be getting weekly reports on the mindset of potential buyers. now that the oil is approaching are buyers pulling out? has traffic fallen big? will the oil cause another wave of reo's and short sales at even lower prices? the good part if inventory is way off the peak period so that could act as a buffer but if buyers freeze what happens to prices? what if no rental income for years?many question we can't answer till after the fact. i own in sowal and will be buying more if prices plummet again.its like buying bank of america at $3 in 2009
We are in the wait and see mode. The best thing about Real Estate is it is ever changing. Even if it gets worse it will change again.
As far as where are we today I feel the call level has slowed down but always does just before school lets out. Still hard to read the future. Personally, my team was on track to have a record year. Probably why many agents have not been posting a whole lot. I don't think we were alone in this. It seems many good agents are busy. The current numbers will reflect the past and all indications were we were on an upswing. With that said, the next few weeks we will really get a full understanding of our future or what kind of market we will be in. If it goes flat again I believe we will still be busy once the smoke clears. Kind of like 2006 all over again. This time though we understand the climate better. As an agent you just adjust to the market. You learn fast how to sell your product. People will still buy here. I had a client tell me yesterday that even if the Gulf of Mexico filled with oil, sowal would still be better then his home in Atlanta.
I am sure that there are many, many unknowns as I have never lived here with oil covering the beaches. lets just pray we all get through this and have hope as a country we all learn something.