"Looking for the Silver Lining"

Here is a section from an article I just read that explains that why some areas are bad, other areas are starting to see the light at the end of the tunnel. That light is not a train that is coming straight at them and they need to get of the tracks, but a light that we have all been looking for.

Here is the section:

Economic Focus:
Volume 12, Issue 33 For the week of September 8, 2008
LOOKING FOR THE SILVER LINING
As the housing market(s) bob for the bottom and industry professionals scramble to survive the market, it is easy to overlook the positive signals that are beginning to appear.

A slowdown in business thins out the ranks
Over the past decade, ease of business and extraordinary commissions has attracted a multitude of people into the real estate and mortgage professions. A few real estate transactions a year could supplement the family income. And a loan officer could earn a nice living by refinancing a small number of clients several times.

That was then and now is now. Truth is tough times thin out the ranks of marginal producers and the uncommitted. When the market settles down there will be fewer competing for a steady stream of business and most will make a good living.

Some sunshine is breaking through
While the slump is more severe in some communities others offer encouragement.

Case in point - Springs, CO
Here are some July '08 numbers to consider:
• Y/Y listed inventory have shrunk 13.2%
• M/M sales has increased m/m since February '08
• The largest sector of sales has been in the more affordable price range: 88% sold under $400,000; 12% over $400,000
• 802 homes sold out of a total 5,358 active listings (15%)
• Total sales volume: $204,239,293
• Median price: $225,000 • Average price: $254,662
• Sale to list price ratio: 97.3% • Average days on market: 89 days
• Sold in less than 120 days: 76%

The local multiple listing service currently has 3,700 participants. Annual dues are due this month so the impact of the market is yet to be seen in the ranks.

While other markets are experiencing different conditions, Colorado Springs like many other communities did not have meteoric increases in property values and may be benefiting with a milder down side.

The point is there are signs of the housing market settling, giving hope to recovery.

Now is the time to buy a commercial property. Once the market starts to turn around, it will be a "V" recovery vs the "U" that will be seen in other markets. Phoenix is a market leader for the nation. We have higher peaks and lower valleys but we always recover quickly.

Call me to discuss current opportunities that you can take advantage of!