This is truly an historic time! And an confusing one!
What other industry with an abundance of quality inventory, greatly reduced prices, and financing with low interest rates would see such a drought of buyers?
I have a theory! This is the domino effect. In order for people to move down from up North (with record cold), or up from down South (with America's worst drivers) to the Treasure Coast of Florida they first have to sell their own homes . When they are free to move, they can enjoy our climate, fishing and all around good times. When they move here and buy some of our inventory, those folks can move to another market to free up the sellers there to move to yet another area of the country. Like dominoes, when one starts the action, the rest will follow suit.
How do we get the first domino to topple? Let's start by reducing the press' influence. This can be done by marketing our properties where NAR's survey says it is most effective: the Internet! Most of us are already plugged in or getting plugged in. According to the survey for 2006, 24% of buyers found thier homes via the internet. That is second only to the use of a Real Estate Agent. Only 5% found their homes through print newspaper advertising. I recommend we spend less of our marketing dollar supporting those publications that impune our industry and our markets and spend more on developing an online presence.
Did I touch a nerve? What do you think?