The re-sale market is actually doing pretty good! At least in the bay area, anyway. I just spent the weekend with a friend of mine that owns a small brokerage office concentrating on
Though some can argue that northern
As I reported last week, many re-sale brokerages are reporting a rather good start to 2009. Sure they have listings, the once golden chalice of the real estate boom, but many are reporting buyers…which could mean the beginning of the end to the downturn in the real estate markets.
Buyers! Did you read that correctly? Buyers! Brokerages are reporting an increase in buyers that are not only qualified to make the purchase, but feel the bottom has already been reached as well.
My friend tells me most of the calls these days are people looking to make the purchase. The San Francisco market, still strong with jobs, is seeing people looking to make the trade-up purchase now that the market has come down to more affordable levels for them. As for the
Though still in somewhat a state of shock, my broker friend says most of his buyers recognize the worst may be over. He explains it as if they have lived through some nuclear horror movie where the survivors come out of the wreckage, brushing dust off their clothes as they squint into the new day sun.
It’s a new beginning in a completely new kind of market that we are all going to have to get used to dealing with. But the signs of the turn around are there and they are beginning to show. As buyers brush themselves off and survivors continue to look toward the new dawn of a changing real estate market, many can already feel that there is a distinct change in a positive direction.
Now, I just hope the lenders can survive the nuclear fall out.