When will the Housing Market return to Normal?

Between all the stats, charts, media, physics, buyers, sellers, investors, lenders, Realtors and spiritual advisor's, no one really knows when that will be. Some say 2008, some 2009, others choose not to make any predictions at all.

I've only been a Realtor for 4 years and I haven't seen a "normal" market yet. Even before I was a Realtor, I remember people complaining that they couldn't get their homes sold and I remember the economy being in a much worse condition than it is now (Of course, I'm old enough to remember the odd and even plate number to get gas days).

Way back in 1989, I sold my home in Phoenix in less than 2 weeks. This wasn't a good time for real estate sales either, if I remember right, so how did I do this you ask? I listen to my Realtor and priced my home right and I did my part by getting rid of all the clutter and making sure that it was in showing condition 100% of the time.

In 2004 and 2005, Real estate sales went sky high here in Phoenix (especially 2005). Homeowners were getting multiple offers within minutes after their agent posted in the MLS. This is no exaggeration, in less than an hour, you would have several offers to choose from. Is this a normal market? Boy, I sure had a lot of buyers in those days. Driving around all day, putting in offer after offer. What a great way to learn your contracts.

I think the real question is,"Is there such thing as a normal housing market?" We need to all be aware that anything can happen, this is a constantly changing market that requires careful attention to details, building a good foundation in the community, and be prepared for the next wave of Ups and Downs and All Arounds. Even though we lose our ambition to market ourselves during these trying times, it's even more important now to keep marketing ourselves and stay active in the community.

I've made an observation in my first 4 years of real estate, this market doesn't preform like any other market. At least not for the most part. Let's take a fruit market for example and focus on apples. If you love apples as much as I do, you know that in the fall, when it's apple picking season, there are groves upon groves of apples ripe and ready to go to market. The price of these apples goes from $1.29 per lb. to $0.25 per lb in you local grocers market. That's when everyone rushes out to the orchards to pick bushels, and to the grocery stores load up theirs carts so they can do their canning or make their pies or just have their fill of eating good fresh apples cheap. With real estate the average consumer usually jumps on the band wagon when the prices have already gone up. A lot of good opportunities are missed when the prices are low. I know the investors don't think this way.

I'm not sure about anywhere else in the country, but here in Phoenix, I would have to say that Home Picking Season is just around the corner. Maybe, prices may fall a little more this winter, but that would be only because of the buyer confidence syndrome. My own brother is in the mind set that real estate prices are doomed to fall back down to the 1989 prices. Sure that may happen, When Javelinas Fly.