Have You Seen the Spring Bounce in Real Estate?

Jim, your description sounds very much like what we're experiencing up here in NE Ohio.  I get so frustrated with the buyer contacts I have that are just waiting for the right moment, and I can't seem to convince them the moment is now.  I'll probably get hate mail, but I almost think we need an interest increase to get their attention.

Christine Howlett - Lake County Ohio Real Estate (Howard Hanna Smythe Cramer)   You may be right!  Lowering rates did nothing!  There has to be an urgency to buy.

We're still moving forward but the activity is nowhere near what it was... I expected this year to be a less than stellar year but I looked the other day and we still have about 44% of our board membership that has not sold one single property this year.  Ouch.

Actually yes, we have. But, Spring came late here, heck we had snow on Easter and while everyone was writing Spring posts I just couldn't do it. But, it is definately here now. Our team is busy and the listings are coming in too.

You know I love the stats. 

Fairfax County Virginia had 1120 closed transactions in April 2008.

Fairfax County Virginia had 1207 closed transactions in April 2007.

Montgomery County Maryland had 719 closed transactions in April 2008.

Montgomery County Maryland had 958 closed transactions in April 2007.

Still going down.

Be optimisitc,  maybe that spring bounce that never happened  will turn into summer bounce?  People have to get off the fence before school starts.

Things were slow here as well Jim until the last couple of weeks.  It has started to pick up at a feverish pace.  Not sure if this trend will continue, but it is looking promising.  And since I work with many investors and the Freddie Mac announcement of last month, the investors have become VERY active and should be through the summer, so perhaps we are starting to climb the hill again...?

We are getting a bounce but it is certainly not as high as normal. It shows signs of slowing already.

we will see!

We saw a bit of a bounce here as well...but, nothing like in years past.  Hopefully, we will be able to sustain the growth through the summer.

Fairbanks Real Estate Broker Jesse Clifton (Jesse & Kathy Clifton, REALTORS - 907.699.6024 - ) I think that could apply to most markets...

Missy Caulk Ann Arbor Real Estate (Keller Williams Ann Arbor, Michigan)  I am so happy to hear your market is doing well.  IN our market, I am not counting the listings, only listing closing or under contract.

Lenn Harley, Homefinders.com, MD & VA Real Estate  Thanks Lenn!  I noticed one item interesting for Fairfax...DOM are coming down incrementally over the past few months, and LP/SP ratios are improving ever so slightly...

Hi Jim,  Virginia Beach is experiencing a similar situation to what you describe.  Even with the military presence here, the Spring market "bounce" is not what it was even last year (which was slowing down too).  I am telling sellers to get serious for Memorial Day weekend.  If I had to sell now I would look at July 1 as a make or break date to have a ratified contract by, as 6 weeks later school essentially begins.  With this in mind, price accordingly asap.  -Mark

Judy Greenberg- Coldwell Banker Long Grove/ Buffalo Grove Real Estate (Coldwell Banker Residential Brokerage)  I can be as optimistic as I want, but with 9000 a month+ in foreclosures and sales are less than 4000 a month.

Steve Homer (The HBH Group (Keller Williams affiliate))  Steve that is very encouraging.

Charles McDonald / Your Trusted Agent for Charlottesville Real Estate (RE/MAX Assured Properties)  Some bounce is better than no bounce.

Clint Miller with Real Estate Client Referrals (Real Estate Client Referrals LLC)  We have had some personal activity pick up, but the prices had to be slashed to the bone to get the deal done.

Jim,

I wouldn't call it a 'spring bounce'...more like a 'speed bump' !!! Thanks,   Fran

Fran 'The Title Man' Gaspari Title Insurance-PA & NJ (Patriot Land Transfer, Inc.) Well it is a tripping point for sure!  LOL!

Hello Jim:  I just had my best closing month ever in April.  However, closings are down in May and there aren't nearly as many buyers looking either.  Even though I am fortunate to be in one of the hottest real estate markets in the country right now, I think that the dissapearance of most 100% financing programs as of April 1, has really put the brakes on the market.

We have plenty of properties on the market here too...bring on the buyers!

Cheryl Powell - ABR, Realtor - Remax Gold - Concord NC (RE/MAX Gold - The Powell Team)  When available financing for one segment of the market disappears so do the opportunity of other sales.  All real estate in this sense is not local, but has an interrelatedness or a domino affect on other real estate

Hi Jim,
I can't say our market is red hot but we have definitely seen a small hop if not a bounce. 

Cynthia Tilghman, Realtor® Onslow County NC Home Specialist (Kingsbridge Realty, Inc) Any bounce is a good bounce.  Thank you for taking the time to share!

I don't know if our market is bouncing but I've been pretty busy so I'm lucky.  I'm negotiating 2 deals right now so I'm feeling OK. Hope things turn around for you soon Jim!

LaNita Cates (REMAX of Joliet)  We are doing OK, but in comparison to other years we are at a standstill.

The market seems stalled in my area also,

Laura Moore Godek (Laura Moore Godek, PC)  Here too! I am wondering if gas prices has slowed traffic and buyers?