"How IS the market?"

Having been in the real estate business for nearly three decades I am very often questioned about the status of the real estate market. And it comes from all sorts of people for all sorts of reasons. Some are merely friends who are just asking me how I'm doing.... somethimes it's someone with an agenda (they are thinking about getting involved in a purchase or a sale)... sometimes it's a person thinking about a career change...

It's a tough question to answer sometimes because the answer truly is relative. Right now, buyers are seeing the most favorable terms , maybe ever! Sellers sometimes are seeing this an opportunity to get their real estate sold because there is less inventory and less competition. Many investors will tell you there are deals to be had out there and real estate is a great place to be while the money and stock markets settle down a bit.

So it's all relative to what you (the questioner) want to do.

Locally... in the Albany NY area our pending units are down 5.1% from last year... our inventory is down 3.1% and the sellers are seeing 91.1% of their asking price... down 1.3% from last year....

So those are a couple "stats". But my office in Loudonville has seen a 26.1% increase in volume and 13% increase in units sold.

Why? My agents are full time professionals that re ready when their clients need them to be ready. They are not sugar-coating any of their analysis when working with clients... They are giving honest straightforward counsel and their clients are listening.

So right now the best advice I can give any seller or buyer is to trust their Realtor and follow their lead. Don't try to apply recent years' appreciations or even deprecations to today's market.

Good luck!

The Biggest? The Best? I'm Number One?

First let me apologize for being off the blog thing for a while. True enough I've been busy. But not so busy that I couldn't take a few moments to air my views and two cents. And a few people have emailed me with stuff like, "Hey Staples! Didja run outta things to say???" I have not, and doubt that I ever will run out of things to say... might repeat myself, but I will always have something to say.

But today I want to ask YOU a question. Get YOUR opinion.

I work for one of the nation's largest independent real estate firms. And we are the number one firm in the Capital Region.

So what?

I want to know what you think that does for anyone. Does it make a difference in you deciding who to have helping you sell your house, or helping you to buy a house?

Seems every day in the paper and on billboards all over you and I see real estate agents professing to be the top Realtor, or the best agent, or Number one! They spend lots of money to get that message out too.

Here's what I think. And I do want you to email me a note at sstaples@Realtyusa.com with your thoughts. But, here's what I think.

There are over 3,000 licensed real estate agents in the Greater Capital Association of Realtors, based in the Albany NY area. Some work for RealtyUSA.... some work for Prudential... some work for Foothills Realty. Some of these brokerage firms have 600 agents and some have 6... some have less. When an agent from the largest firm advises you to use them because they have the largest firm in the area are you going to? When an agent boasts that he has over 50 listings active on the market right now and he sold over 150 houses last year is that going to convince you to sign on with him?

I firmly believe that RealtyUSA has some exceptional real estate professionals. BUT... we aren't the only brokerage firm that has exceptional professionals. In fact, it is all together possible that the smallest real estate firm in the area has "the best" Realtor working for them!

Now, the one thing I can be sure of is that RealtyUSA, and most of the larger firms have more resources available to them in the form of marketing power, training, support services, etc. But there are many very good real estate agents out there working out of what some might refer to as boutique firms.

So let me know what you think.... sstaples@realtyusa.com

Thanks!