sjdiii

Eleven Good Points On Residential Real Estate

David, I agree with the points made. Very factual and I plan to pass it on to the builder I work for. With respect to appraisals, right now fees are dropping because there is less work in our area for them. In addition builders cannot get the "numbers" out of them that they were used to. I have given customers new home estimates only to have banks say that the appraisal was less. So we are starting to see things tighten up with respect to appaisals which I believe is a good thing.

In regards to NAR, my feeling are they are just a money making operation. They always seem to indicate things aren't so bad no matter how bad things really are and believe me they are bad. We have not had a sale of a new home in 9 months now. I have realtors currently telling me that they are getting more calls. Not sure what they are smoking but this Bradenton / Sarasota area is close to dead right now. There is so much inventory on the market, prices are dropping, foreclosures are increasing, and auctions are going on in every development. Banks are reluctant to lend money and interest rates are raising. So I agree with you that it will take at least another year to 18 month more before we see a normal buy & sell environment.