QUIET, QUIET, QUIET!

9.06.07

Let's hope this is a premature headline! There is a lot of Brokers' concern with the market as this is written. Agents in selected "destination" areas are doing their best to put a positive spin on their market areas, myself included; however it is clear that activity is mostly occurring in "categories" where sellers are eager to move on and convert their investment real estate to cash; this means that (only) where there are good buys, there is activity. Real Estate Auction companies are awash (elsewhere) with business.

This leaves a lot of real estate in a static condition: on the market with little activity leading to a negotiated transaction. The last couple of weeks in August, along with this last weekend appears to have been one of the quietest times for real estate activity I can remember. Vacations are an easy "excuse" but my comment goes beyond that category of people.

Now we will see what really will happen in our NW CT corner. The holidays are over; kids are back in school; and it is time for activity to (normally) pick up as we head towards November.

The problem: buyers will be expecting to negotiate, aggressively. I think it may be a tough time to make deals happen. Review last week’s column, which suggested additional causes for this quiet time we may be facing.

©2007 R Leech features