This is what Steve Harney has to say about the current housing numbers. I thought you might like to see this.
Joyce
I want to start by saying that Armageddon is not upon us. Was NAR’s Existing Home Sales Report tough to read? Yes. Were there any surprises in the report? Just one: the fact that prices have remained stable. And that was good news.
All the panic and gut-wrenching revolves around two numbers:
The lack of sales in July
The months’ supply of inventory now available
Neither number was a surprise to anyone truly following the real estate market. Right here in this blog, the KCM Crew has been claiming for the last nine months that sales in 2010 will be approximately what they were in 2009. The tax credit moved many purchases forward as buyers wanted to be in contract before the April 30 deadline. That push forward of demand created a false sense of hope that a major market comeback was taking place in the spring. It also created this current vacuum of demand during the summer.
Just as we should have realized that the great market of the spring could not be sustained, we must now realize that plummeting sales numbers will not continue. It may take one or two months for the impact of the tax credit to fully dissipate. After that, we will see a more normal buyer demand throughout the fall and winter. We must not forget that people decide to move every day. Prices are great, interest rates are at historic lows and the assortment of properties for sale is fabulous. Buyers will buy!!
In regard to the months’ supply of homes for sale, we must remember one basic principle: prices will come down if demand is constant and inventory increases. Houses will sell over the next twelve months, approximately 5 million of them. There may be more than double that amount trying to sell however. Which ones will sell? Those that are priced correctly for the current market. Your price must be compelling in order to make your home attractive to today’s buyers who have a tremendous selection of homes from which to choose.
As the year moves forward, it is my belief that months’ inventory will remain in double digit numbers. That means that prices will continue to soften.
Friday, August 27, 2010
Paula Ferebee sent the following which is so appropriate.
Invisible Fences
I am sitting here at the airport in Los Angeles. Was here to speak to a group of General Electric’s high- potential employees. About leading without title. About standing for world-class. About their outright Greatness in all they do.
After the presentation I relected on why so many of us play small in the core areas of our lives. Why we avoid change. Why we don't innovate and express the creative genius that resides within each one of us. Why we refuse to accept the call on our lives. And why so many of us refrain from being remarkable. The answer I came up with? Invisible Fences.
Here's what I'm talking about: I took a drive out into the country side last week. To breathe. To renew. To think. I saw a sign from a dog training company on someone's lawn. It spoke of an invisible fence. It is a system that sets an invisible boundary that the dog can't get past. The dog eventually becomes conditioned so that even when that fence is gone, it will not run beyond it. The dog sets up imaginary limits that determine its reality. We're like that too. As we grow up, we adopt negative beliefs and false assumptions and sabotaging fears from the world arround us. These become our invisible fences. We believe they are real. When we bumb up against them at work( and in life), we retreat. We believe the boundary is true. So we shrink from all we meant to be/do/have. The illusion seems so real. But it's not. Please remember that.
So I invite you to question yor invisible fences. Be aware of them. Observe them. Challenge them. So that when one confronts you, rather than running away from it, you exercise the force of will and talent of heart to run through it. Toward the poetic posibilities your life is meant to be. Because what you resist will persist. But what you befriend, you will transcend.
As we grow up, we adopt negative beliefs
and false assumptions and sabotaging
fears from the world arround us.
These become our invisible fences
Invisible Fences
I am sitting here at the airport in Los Angeles. Was here to speak to a group of General Electric’s high- potential employees. About leading without title. About standing for world-class. About their outright Greatness in all they do.
After the presentation I relected on why so many of us play small in the core areas of our lives. Why we avoid change. Why we don't innovate and express the creative genius that resides within each one of us. Why we refuse to accept the call on our lives. And why so many of us refrain from being remarkable. The answer I came up with? Invisible Fences.
Here's what I'm talking about: I took a drive out into the country side last week. To breathe. To renew. To think. I saw a sign from a dog training company on someone's lawn. It spoke of an invisible fence. It is a system that sets an invisible boundary that the dog can't get past. The dog eventually becomes conditioned so that even when that fence is gone, it will not run beyond it. The dog sets up imaginary limits that determine its reality. We're like that too. As we grow up, we adopt negative beliefs and false assumptions and sabotaging fears from the world arround us. These become our invisible fences. We believe they are real. When we bumb up against them at work( and in life), we retreat. We believe the boundary is true. So we shrink from all we meant to be/do/have. The illusion seems so real. But it's not. Please remember that.
So I invite you to question yor invisible fences. Be aware of them. Observe them. Challenge them. So that when one confronts you, rather than running away from it, you exercise the force of will and talent of heart to run through it. Toward the poetic posibilities your life is meant to be. Because what you resist will persist. But what you befriend, you will transcend.
As we grow up, we adopt negative beliefs
and false assumptions and sabotaging
fears from the world arround us.
These become our invisible fences
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