Profile picture for John A. Jay

How do you see the real estate market in your area?

  • October 08 2011 - US
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Answers (12)

New York is the most resilient real estate market in the world. The reason is simple: Everyone wants be here. A pro-development mayor and administration doesn't hurt. Neither do 1,000 of the most hungry real estate agents in the industry working hard to complete big deals. Still, if real estate is about "location, location, location," then New York City - its five boroughs and surrounding areas - has got it.
""We're the last to be hit by the recession and the first place out of it. New York real estate has never not been a sound investment." Herman and other New York real estate experts see a strong year ahead. With interest rates staying put and rent prices continuing to increase, now might be the best time in a generation's lifetime to buy at a fair price with low interest rates. If you have any more questions about NYC please [Hotlink and contact information removed by Zillow moderator. Please see Good Neighbor Policy our for information.]

  • October 16 2013
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We've seen dramatically rising prices. There are still multiple offers and rising prices, though we have been getting a little more inventory, which has taken off some of the edge.
  • October 14 2013
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The market is definitely on the rise in St. Louis and the shortage of inventory of move-in ready homes is driving prices up even above the appraisal amount.  If you are serious about upgrading and need to sell your house before you buy a home, it is important to be working with an aggressive agent who can help you find a home.  In many cases, homes are selling quickly and sellers are scrambling to find their new home and move their families.  We have found ourselves networking with agents who have listings coming to market, door-knocking in neighborhoods where our clients want to live and contacting owners of properties that look like they might be coming to market.  The last property we sold came to market on Wednesday night, was shown to our clients on Thursday morning and had an accepted contract by Friday at noon.  (There were three contracts, but we were aggressive and we won and even got the property for 10K less than asking price.)  
  • October 14 2013
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Profile picture for Chris Boyles
In Houston, there is very low inventory right now and the builders are running out of lots.  The market has slowed a little from the first of the year when first day on the market, there multiple offers for over asking.  Right now it seems that homes are not going quite that fast but still not on the market longer than a couple of weeks. 
  • October 14 2013
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Profile picture for Neeraj Jassal
We are also experiencing low inventory in Philadelphia - has been that way since September 2012.

Low inventory coupled with high demand creates lots of competition.  Sometimes we can't get out fast enough to see properties of interest.  But if something languishes on the market for too long, buyers are aware that either the price is too high or there is something funky about that property and will stay away.
  • October 14 2013
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In the greater Los Angeles area, after the big surge in prices during the first half of 2013, I see a general slow down to what I would consider normal market conditions where prices are less volatile. At this point prices are still growing, but at a lower pace. I believe buyers have better chances of grabbing a property today than they did several month ago. In my opinion, present market conditions will continue for the next 3-4 months. Should the general economy improve we may see another milder surge by mid of 2014.
  • October 14 2013
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Profile picture for Amy Smits
Things are great in Colorado's resort communities. Our inventory is a bit low and that is slowly starting to raise prices. We are on a torrid pace to have our best year ever for both number of sales and production. We are seeing a lot of our past clients move up and thankfully they have chosen our team to help sell their homes and help them get into something bigger.
  • October 14 2013
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Profile picture for John A. Jay
The weather has changed and inventory is low. Buyer do want to buy when nice properties come on the market. Buyer are savy and know the values. Overprice listings continue to stay on the market, while well priced homes are receiving multiple offers.
  • October 14 2013
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Profile picture for sunnyview
How do you see your market in Indian Wells, John?
  • October 09 2011
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Profile picture for SteadyState
RE market in SFO bay is way to expensive (home price = 8 * family income) and still being manipulated by REAs to exploit the consumers - high transaction costs, declining home values, questionable multiple offers .... all while year to year prices are declining with the resetting of the mortgage limits.
  • October 09 2011
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Profile picture for the_country_hick
My state made the top of one of the bad lists. That says it is doing badly for higher prices.

Given some more time house prices should become much more affordable.
  • October 08 2011
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Profile picture for sunnyview
Softening with low end properties moving at a decent pace. High end properties are not moving and the middle must be well priced to move.
  • October 08 2011
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