What have Market values changed in last 5 years

In Selling Property - Asked by Jack B. - May 12, 2011
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Answer(s)

JOHN R.
Broker/Agent
Tampa, FL

50-75% REDUCTION IN TAMPA BAY AREA. JOHN REAVES

May 13, 2011
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Rob B.
Chandler, AZ

Jack....
You may not be looking for this answer, but I believe it will answer the question you asked: "What have Market values changed in the last 5 years"? In other words not what is the change in value that has occurred, but what has such change brought to the Market?
1. More properties available
2. Drastically reduced prices for B, C and D properties
3. Drastically reduced prices for all properties except perhaps Multifamily
4. Fewer agents in the Market
5. Fewer investors in the Market
6. Greater vacancies in most product lines
7. Most remaining agents earning less money in commissions
8. Less loan money available - Less leverage on purchases - More Cash required - Proof of Funds required
What has the change in the Market done positively?
1. More opportunity of choice for serious buyers
2. Purchases that buy more for the investor
3. Longer term gains for those who have wisdom and staying power
4. The ability to create some serious cash flow
5. Lots of room for the creative, knowledgeable and skilled agent
6. The ability to make tons of money, while others are complaining
7. Room to work - not so many doing things that require only a license and lots of luck in a booming economy
I hope this helps, since the true Market value for real estate at any given time, is always what one can make of it.
Onward and upward... Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 Email: rob@capratecommercial.com

May 13, 2011
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Tai N.
Broker/Agent
City Of Industry, CA

Jack B., I agree with everything Rob has said. I would like to only add that if you are currently a property owner or looking to invest, you should consult with your local real estate professional. Invest the time to locate a professional and have an open conversation. Ask them about local market dynamics, and how it has impacted the owners... but if you are simply fishing for more info, please keep it brief with the brokers, because frankly no one likes to waste time. Good luck...

May 26, 2011
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