Comments on: Part time Realtors…sigh http://www.gregwilliamson.ca/uncategorized/part-time-realtorssigh/ Canadian and Alberta Real Estate and Mortgage Market Information with a slant toward positive comments in light of all the negative information out there Mon, 02 Jan 2012 19:35:08 +0000 hourly 1 http://wordpress.org/?v= By: Greg http://www.gregwilliamson.ca/uncategorized/part-time-realtorssigh/#comment-41 Greg Tue, 10 Feb 2009 16:08:38 +0000 http://www.gregwilliamson.ca/blog/?p=174#comment-41 Well said. Greg Well said.

Greg

]]> By: Jason Dodd http://www.gregwilliamson.ca/uncategorized/part-time-realtorssigh/#comment-40 Jason Dodd Tue, 10 Feb 2009 15:43:23 +0000 http://www.gregwilliamson.ca/blog/?p=174#comment-40 I will touch on some different points on this blog. I can already see previous clients from mid 2007 to early 2008 calling me back. Prospective and often in my own personal experience young buyers are smart enough to see the opportunity. Lowest prices we have seen in some time, lowest historical interest rates and great selection of homes. In my mind a perfect storm for people searching for a home. Breaking from the herd is happening in pockets and those people who lock in near 4% for 5 years will be high fiving themselves in 2 years for buying during this time. The part time realtor making comments-I am fortunate to work as a Mortgage Associate in a very succesful Real Estate office. I see how hard some of those FULL TIME agents are working to move inventory and come up with innovation to service those clients. For all those buyers and sellers out there, you should be rewarding those agents who are full time and committed to their career and devotes all their efforts to selling your home. This is a good time to weed out the people in our industry who capitalize on good times and turn a blind eye when things get tough. The cream will always rise to the top so lets support that. I will touch on some different points on this blog. I can already see previous clients from mid 2007 to early 2008 calling me back. Prospective and often in my own personal experience young buyers are smart enough to see the opportunity. Lowest prices we have seen in some time, lowest historical interest rates and great selection of homes. In my mind a perfect storm for people searching for a home. Breaking from the herd is happening in pockets and those people who lock in near 4% for 5 years will be high fiving themselves in 2 years for buying during this time.
The part time realtor making comments-I am fortunate to work as a Mortgage Associate in a very succesful Real Estate office. I see how hard some of those FULL TIME agents are working to move inventory and come up with innovation to service those clients. For all those buyers and sellers out there, you should be rewarding those agents who are full time and committed to their career and devotes all their efforts to selling your home. This is a good time to weed out the people in our industry who capitalize on good times and turn a blind eye when things get tough. The cream will always rise to the top so lets support that.

]]> By: Greg http://www.gregwilliamson.ca/uncategorized/part-time-realtorssigh/#comment-39 Greg Mon, 09 Feb 2009 23:57:07 +0000 http://www.gregwilliamson.ca/blog/?p=174#comment-39 The ONLY thing and it is a maybe that could spur on demand locally would be "breaking from the herd" and grabbing bargains. But before that happens I think there has to be some more positive information. For whatever reason people don't readily break from the herd. Great Discussion Chris, Thanks for that. The ONLY thing and it is a maybe that could spur on demand locally would be “breaking from the herd” and grabbing bargains. But before that happens I think there has to be some more positive information.

For whatever reason people don’t readily break from the herd.

Great Discussion Chris, Thanks for that.

]]> By: Chris http://www.gregwilliamson.ca/uncategorized/part-time-realtorssigh/#comment-38 Chris Mon, 09 Feb 2009 21:08:15 +0000 http://www.gregwilliamson.ca/blog/?p=174#comment-38 Thanks Greg, fair enough. Yes, from what I'm seeing, the sales numbers are the glaring stat here. Inventory is approximately the same as last year, maybe slightly less. (February '08 ended with around 4900 SFH I believe, and right now we're at 4200, and on pace to end the month at about 4500). So, approximately an 8% decrease from last February's inventory numbers. But sales for SFH (this month) appear to be on pace for about 700. In Feb '08 there were 1252 such sales (with approximately the same amount of inventory, as noted above). So, we're on pace for about 56% of last February's sales. I believe January's sales numbers were similar. Will seller's hold firm? From the demand side, I'm struggling to think of a single factor right now that would increase demand. From the supply side, it should be interesting to see how many seller's give up and decide to 'wait it out'. Or will unemployment make that decision a little easier? Definitely interesting times. Thanks Greg, fair enough.

Yes, from what I’m seeing, the sales numbers are the glaring stat here. Inventory is approximately the same as last year, maybe slightly less. (February ’08 ended with around 4900 SFH I believe, and right now we’re at 4200, and on pace to end the month at about 4500). So, approximately an 8% decrease from last February’s inventory numbers.

But sales for SFH (this month) appear to be on pace for about 700. In Feb ’08 there were 1252 such sales (with approximately the same amount of inventory, as noted above).
So, we’re on pace for about 56% of last February’s sales. I believe January’s sales numbers were similar.

Will seller’s hold firm? From the demand side, I’m struggling to think of a single factor right now that would increase demand. From the supply side, it should be interesting to see how many seller’s give up and decide to ‘wait it out’. Or will unemployment make that decision a little easier?

Definitely interesting times.

]]> By: Greg http://www.gregwilliamson.ca/uncategorized/part-time-realtorssigh/#comment-37 Greg Mon, 09 Feb 2009 18:52:30 +0000 http://www.gregwilliamson.ca/blog/?p=174#comment-37 I agree with your thinking. However the purpose of this post was to combat how the media only lately reports the drastic drop in activity from the peak so I was trying to also show that inventory has dropped from then to. You are right when you say "but inventory always drops from then". In fact you also correctly point out that the inventory may be normal for the time period and sales are definitely not normal. As I have been saying we need the new listings added to stay below the historical average and consequently overall inventory to drop some more, or else we will see continued decline in median price. I agree with your thinking. However the purpose of this post was to combat how the media only lately reports the drastic drop in activity from the peak so I was trying to also show that inventory has dropped from then to.

You are right when you say “but inventory always drops from then”.

In fact you also correctly point out that the inventory may be normal for the time period and sales are definitely not normal.

As I have been saying we need the new listings added to stay below the historical average and consequently overall inventory to drop some more, or else we will see continued decline in median price.

]]> By: Chris http://www.gregwilliamson.ca/uncategorized/part-time-realtorssigh/#comment-36 Chris Mon, 09 Feb 2009 15:38:48 +0000 http://www.gregwilliamson.ca/blog/?p=174#comment-36 Ah, I see. I just don't think you're comparing apples to apples when you compare inventory in June (which is typically just after the peak of the real estate year in Calgary) to the inventory in January (which is only one month after the December low). I mean, there's *always* a huge gap between January and June, that's just seasonal fluctuation. Ah, I see. I just don’t think you’re comparing apples to apples when you compare inventory in June (which is typically just after the peak of the real estate year in Calgary) to the inventory in January (which is only one month after the December low).

I mean, there’s *always* a huge gap between January and June, that’s just seasonal fluctuation.

]]> By: Greg http://www.gregwilliamson.ca/uncategorized/part-time-realtorssigh/#comment-35 Greg Mon, 09 Feb 2009 13:31:07 +0000 http://www.gregwilliamson.ca/blog/?p=174#comment-35 Calgary Real Estate Board statistics for single family homes in Calgary Metro. I was really commenting on the amount of inventory since the peak in early summer 2008. The purpose is to counteract the media propensity to report 50+% drops in activity every months without also talking about the drop in inventory in the market. June 2008 total inventory = 6,534 January 2009 total inventory = 4,040 62% decline Sadly you point out that more inventory has to come out of the market to stabilize prices if activity continues to decline like it has. Calgary Real Estate Board statistics for single family homes in Calgary Metro.

I was really commenting on the amount of inventory since the peak in early summer 2008. The purpose is to counteract the media propensity to report 50+% drops in activity every months without also talking about the drop in inventory in the market.

June 2008 total inventory = 6,534
January 2009 total inventory = 4,040

62% decline

Sadly you point out that more inventory has to come out of the market to stabilize prices if activity continues to decline like it has.

]]> By: Chris http://www.gregwilliamson.ca/uncategorized/part-time-realtorssigh/#comment-34 Chris Wed, 04 Feb 2009 15:17:42 +0000 http://www.gregwilliamson.ca/blog/?p=174#comment-34 Hi Greg, Your articles are great, but I'm just wondering on what criteria are you claiming that the inventory has dropped over 30% ? Inventory (End of Month) January 2008: 3997 Inventory (End of Month) January 2009: 4056 That's year over year, but even if you were doing a month-to-month comparison... Inventory (End of Month) December 2008: 3860 Inventory (End of Month) January 2009: 4056 From what I'm seeing, inventory is pretty similar to last year, maybe slightly higher. Hi Greg,

Your articles are great, but I’m just wondering on what criteria are you claiming that the inventory has dropped over 30% ?

Inventory (End of Month) January 2008: 3997
Inventory (End of Month) January 2009: 4056

That’s year over year, but even if you were doing a month-to-month comparison…

Inventory (End of Month) December 2008: 3860
Inventory (End of Month) January 2009: 4056

From what I’m seeing, inventory is pretty similar to last year, maybe slightly higher.

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