The question I get asked most often by people when the conversation turns to what I do, is by far “How’s the market?” The problem with this question is that it’s not really a question that has a straight-forward answer. For example, a well known real estate coach (Tom Ferry) likes to answer “Well, that depends, are you looking to buy, sell, or invest?” Which is a very good way to illustrate why this particular question isn’t as simple as most of us Realtors like to treat it as being. In my experience, most agents will respond with something along the lines of “The market is strong! Prices are coming back up, people are buying, it’s a great time to get into the market!” with a very strong, enthusiastic tone of voice, and some manner of body language that conveys excitement and positive-ness.
In truth, the market is different for everyone. If you have a house in good condition, located in East Medford, Central Point, or Eagle Point, listed between about $100,000 and $250,000; the market is great! You can probably get a great price for it, and it will most likely sell very very quick, with multiple offers.
Conversely, if you are looking for the above house as a buyer, you will have to move VERY quick when it pops up on the market, and there will be others in the market with you that are willing to battle it out, so come prepared with your highest and best offer right from the get-go, rather than trying to get a good deal.
As an investor in today’s local market, you will have a bittersweet time. Unfortunately, when the market crashed, there were a lot of people who decided that because prices were down, they were going to get into real estate investments (which is a great place to be, by the way), and so there is a lot of people with a little cash burning a holes in their pockets. That’s not to say you can’t find something and make some good money while investing your hard earned money, but it DOES take effort, and a good agent.
So how’s the market? I guess that depends on you, let’s find out!
Cody
Cody Croslow