2008 Stunk. 2009 will be better, one hopes.
I’m not making any predictions. 2008 proved so unpredictable that I cannot even begin to predict what 2009 will bring. I just know that I will continue to work hard, smart, innovate where possible, and be as nice as possible to anyone I meet.
The market will stabilize.
– There will be more foreclosures and short sales in the Charlottesville area, representing significant buying opportunities for homeowners and investors. Those who acquire properties in this market will thank their lucky stars in twenty years that they had the foresight to do so
– Realtors still won’t recognize how important their MLS data is.
– The number of Realtors, while needing to be reduced by at least forty percent, will drop by only ten percent.
– Video will be huge, and MLS’ will continue to struggle with the branding of said videos.
– I’ll be able to maintain my positivity and continue to make a living.
Regarding the Charlottesville area housing market – my thoughts are very similar to those of Daniel Lee, Globrix’s CEO –
“It’s been a terrible year for the property market. These end-of-year figures really do bring into sharp focus just how stagnant the property market has been in 2008.The gridlock in the market has been a result of the banks’ reluctance to lend and an unwillingness by sellers to lower their asking prices to more realistic levels. Fortunately, in the past few weeks there have been signs that sellers are starting to accept that they need to drop their prices if they are going to attract buyers.”
– Our market may see a continued decline of five to twelve percent – market wide – (your neighborhood and house likely will vary) – but buyers will continue to buy.
– A market will crop up offering loans to sellers who cannot sell without bringing money to the table.
– I’m going to continue to work with the local media
We demonstrated in October that loans are absolutely available – but buyers have to be, you know, QUALIFIED – quite a shift from the “a thin file is a good file” mentality of the boom years.
The bailouts will continue while small businesses (like me) will continue to get the shaft.