Well, it's been a very busy couple of months, both personally and professionallyBetween Thanksgiving, Hanukkah, Christmas, New Years, my daughter's fourth birthday, my wife's 40th birthday, and finally my birthday, I've eaten too much food and spent way too much money. At least we had fun along the way.
It took a while but I'm finally recharged and ready to go.
I mentioned in my last blog that I would write a 2009 year end review. Now that it's the middle of February, I'm thinking that it may be too late for that. Simply put, however, last year I had to work twice as hard to earn half as much. With prices down around 50% from the two previous years, so was my bottom line.
I mentioned in my last blog that I would write a 2009 year end review. Now that it's the middle of February, I'm thinking that it may be too late for that. Simply put, however, last year I had to work twice as hard to earn half as much. With prices down around 50% from the two previous years, so was my bottom line.
No doubt about it, the best time to buy REO's was in the first half of 2009. During this time there was the most amount of inventory at the cheapest prices. I sold three REO's in six months. After that, however, the word got out and it became, and still is difficult to get a contract accepted.
Looking ahead now to 2010, it's nice to know that I have several customers already with plans to come down and start looking for second homes.
Most of my buyers are from the Northeast. They have the cash and are finally ready to buy. Most of them are looking to buy properties priced at or under 200k.
Throw my new buyers in with my new sellers, and maybe I'll have a decent year.
It does seem like the market is moving. With prices low and opportunity high, there are those taking advantage of the current market. Short sales are still dragging down the market and foreclosures still dot the landscape, but mortgage rates are still very low. and lending has loosened a bit.
Nothing stays the same forever, and as RUSH's Niel Peart would say, "Constant change is here to stay." Hopefully the market will continue to work itself out, and sooner rather than later we'll have a recovery.
So with that I'd say, that even though 2009 could have been better, I'm still optimistic about 2010.
Thanks for reading!
Aaron Glassman, Broker/Owner
Most of my buyers are from the Northeast. They have the cash and are finally ready to buy. Most of them are looking to buy properties priced at or under 200k.
Throw my new buyers in with my new sellers, and maybe I'll have a decent year.
It does seem like the market is moving. With prices low and opportunity high, there are those taking advantage of the current market. Short sales are still dragging down the market and foreclosures still dot the landscape, but mortgage rates are still very low. and lending has loosened a bit.
Nothing stays the same forever, and as RUSH's Niel Peart would say, "Constant change is here to stay." Hopefully the market will continue to work itself out, and sooner rather than later we'll have a recovery.
So with that I'd say, that even though 2009 could have been better, I'm still optimistic about 2010.
Thanks for reading!
Aaron Glassman, Broker/Owner
A-1 REALTY GROUP, INC.
**Picture of fireworks taken at Disney World.
