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Robert Hoffman 
Group: Members
Posts: 329
Joined: Mar. 2008
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Posted on: Dec. 28 2008,5:28 pm |
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(nice attacks on AL Trib .com, man some people)
I can share a lot. I've sold over 100 porperty sales in Southern MN since moving to Albert Lea from Mpls (102 since Feb of 2006)
The class they were writting about was a class that many Realtors in town were invited to attened and were asked to give the MHFA more insight on our smaller local markets. I was the only one out of our area who took the time to go.
My broker got a gift sent to him from MHFA because I scored better than the rest of the class on the test we took to earn continuing education credits (we need 15 a year-that class gave me 2).
Im easy to find 507-402-4692 (hint hint) 
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A guy is in a hole & is yelling for "help!" A doctor walks by & writes a prescription. A preist walks by & says a prayer. Then a FRIEND jumps in the hole with him & the guy yells at his friend "You're down here with me now!" The friend says "SURE, but Ive been down before and I know the ways out!"
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minnow
Group: Members
Posts: 2243
Joined: Aug. 2003
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Posted on: Dec. 28 2008,6:34 pm |
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When's the market hit bottom in housing?
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Robert Hoffman
Group: Members
Posts: 329
Joined: Mar. 2008
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Posted on: Dec. 28 2008,6:45 pm |
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I honestly dont think weve seen the bottom yet. I take care of Freddie Mac's foreclosures in the area and theres another wave coming in Jan. We've got a ways to go yet... BUT prices are GREAT now and Ive heard interest rates are unreal low now too!
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A guy is in a hole & is yelling for "help!" A doctor walks by & writes a prescription. A preist walks by & says a prayer. Then a FRIEND jumps in the hole with him & the guy yells at his friend "You're down here with me now!" The friend says "SURE, but Ive been down before and I know the ways out!"
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Spock of Vulcan
Group: Members
Posts: 1160
Joined: Nov. 2008
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Posted on: Dec. 29 2008,1:04 am |
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Housing and other items will stop falling in price. when cost equals in relationship to the actual amount of dollars in circulation.
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I will see my dreams come alive at last. I will touch the sky.
Go where my heart will take me. I have the faith to believe.
I can reach any star...I've got faith... faith of the heart
~Star Trek Enterprise~
"Live, long... and prosper..."
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Spock of Vulcan
Group: Members
Posts: 1160
Joined: Nov. 2008
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Posted on: Dec. 29 2008,1:10 am |
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Where that point is?
A good starting place would be the comparative Analysis of money supply, now, and say the great depression of the 30's.
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I will see my dreams come alive at last. I will touch the sky.
Go where my heart will take me. I have the faith to believe.
I can reach any star...I've got faith... faith of the heart
~Star Trek Enterprise~
"Live, long... and prosper..."
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| Post Number: 7
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Spock of Vulcan
Group: Members
Posts: 1160
Joined: Nov. 2008
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Posted on: Dec. 29 2008,1:28 am |
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Here's an interesting article, that suggests stabalization will happen in about mid 2010. I'm guessing that's about right.
http://www.leap2020.eu/GEAB-N-30-is-...his_a2567.html
New tipping-point in March 2009: 'When the world becomes aware that this crisis is worse than the 1930s crisis'
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I will see my dreams come alive at last. I will touch the sky.
Go where my heart will take me. I have the faith to believe.
I can reach any star...I've got faith... faith of the heart
~Star Trek Enterprise~
"Live, long... and prosper..."
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| Post Number: 8
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Robert Hoffman
Group: Members
Posts: 329
Joined: Mar. 2008
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Posted on: Dec. 29 2008,10:59 am |
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Spock, GREAT LINK! 
A good point made in that artice is that though by 2010 we may see IMPROVEMNET that doent mean we will see GREAT GROWTH and that growth may note be noted until almost 2018.
FOR EXAMPLE; We just bought a house on Sheridan for about 30k in Sept. The people who owned it prior to us paid about 58k in 1997.
...ohh, we've got a ways to go! 
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A guy is in a hole & is yelling for "help!" A doctor walks by & writes a prescription. A preist walks by & says a prayer. Then a FRIEND jumps in the hole with him & the guy yells at his friend "You're down here with me now!" The friend says "SURE, but Ive been down before and I know the ways out!"
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scorenix
Group: Members
Posts: 1147
Joined: Dec. 2004
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Posted on: Dec. 29 2008,11:27 am |
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But our fabulous Tribune assured us a few months ago, verified by a real estate agent, that Albert Lea was immune from the mortgage crisis affecting the entire nation. The gist of the article was that we did not have the big run up in real estate prices like metro areas, so the decline would be marginal at best.
Real estate valuation is difficult, but it is a function of interest rates, income, property taxes and economic conditions.
What's the inventory of homes for sale in Albert Lea? Rising? And what's the average length of selling time? Is it getting longer?
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"Here is something for those who think I have not done much on my own to think about. I must then be one of the luckiest people around, and I think I am, I should then be able to keep that same luck going for the benefit of our area." - New ALEDA Executive Director Dan Dorman.
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Robert Hoffman
Group: Members
Posts: 329
Joined: Mar. 2008
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Posted on: Dec. 29 2008,11:51 am |
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Theres about 200 homes for sale in Albert Lea right now and the average days on the market is close to 6 to 9 months. (thats "roofs" for sale, not lots or commercial listings)
Thats a little down for inventory, its been higher, but the days on market are getting to be much longer.
A problem sellers are seeing from potiential buyers, aside from buyers getting financing, is that there's just so much to look at that its a lot to take in for some buyers and their making themselves mad trying to decide-so they just don't, they decide not to buy.
I did however just sell a GREAT house on Crestivew that was perfectly priced by the other agent, a gal from Coldwell, and it sold in only a matter of days after being listed and was entertaining a few other offers. ...Nows not the time to try and be ballsy about pricing your home for a sale.
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A guy is in a hole & is yelling for "help!" A doctor walks by & writes a prescription. A preist walks by & says a prayer. Then a FRIEND jumps in the hole with him & the guy yells at his friend "You're down here with me now!" The friend says "SURE, but Ive been down before and I know the ways out!"
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