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Black Friday and the Real Estate Market

Friday, November 26, 2010

by Ashton Gustafson

Black Friday and the Real Estate Market

You know there is a great parallel between Black Friday and the Real Estate market. Actually, the parallel goes with any market...not just Real Estate.

We often laugh at (or with) our friends that line up outside of Best Buy over 12 hours before the doors open in the cold just so they can get that TV they have lusted after all Thanksgiving Day in the glossy newspaper ads. But why all the hype? Why all the madness?

Answer? Price.

A couple of weeks ago Wall Street announced that numerous retail stores reported earnings less than what was expected for the last quarter. Did that effect the consumer this morning? No. Did the consumer still stand in sub freezing temperatures just to be first at the door? Yes. Did they care what Wall Street said about earnings? No. The consumer saw that they could save over $1000.00 on a TV if they bought today...its all about price. Black Friday is simply another way to say, "buy today or regret tomorrow."

So here is the parallel. You may have heard that the market is bad or that buyers are no longer buying. That is a false statement. When we look at what is selling in the markets, the properties that are selling have been on the market less than 60 days. For the Real Estate market, that is NOT a long time.

So why are the days on market so short for what is selling? Because the consumer knows value when they see it. The buyers are online and in the papers everyday looking for the home that can be bought for $200,000 today, but would cost $210,000 to build. Furthermore, when the consumer sees value, they act on it and purchase. Buyers are everywhere, but we have convinced ourselves they are not there because some of the listings in the market are stagnant (fancy word for overpriced).

Now class, let's conclude our discussion. Is your price compelling? Would you sleep outside of your home in the cold to buy it at the price you're listed at? If not, you may want to take a lesson from Mr. Black Friday.

Happy Black Friday and Merry Christmas.

Written by: Ashton Gustafson - Owner - Bishop Realtor Group

Ashton Gustafson is one of top producing Real Estate agents in North Texas. He was selected by Realtor Magazine in 2010 as on the top 30 agents in the U.S. under the age of 30. Currently, he is an owner at the Bishop Realtor Group in Wichita Falls, Texas with his grandparents, Ann and Denny Bishop.

For more information on Ashton go to:

www.SeeWhatTheyAreSaying.com

www.AshtonGustafson.com

www.TheFallsHomeFinder.com - Looking to buy?

www.TexomaHomeValue.com - What's my home worth?

What a difference a year makes....

Monday, October 25, 2010

by Ashton Gustafson

Good Monday morning to you!

If you've read anything about the Real Estate market over the past 3 years, the main buzz was the 1st Time Home Buyer and Repeat Buyer Federal Tax Credits. This $8000 tax credit sent a wave of buyers into all markets...and, rightfully so.

However, in less than 6 months, interest rates have fallen on a 30 year fix from 5.25% to 4.25%. At a loan amount of $200,000, this is over $43,000 in savings over the life of that loan. The last time I checked, $43,000 was greater than $8,000...what a difference a year makes. The chart below puts this into great perspective.

To keep an eye on all of the opportunities that are hitting the market each day, remember to log in @ www.TheFallsHomeFinder.com. This has quickly become the best site for the buyer/investor in North Texas.

If you're thinking about taking advantage of these rates and moving up, see www.TexomaHomeValue.com for a free market analysis of your property.

If I can answer any other questions or serve someone you may know, please let me know.

Make it a great week and GO RANGERS!

"He who says he can, and he who says he can't both are usually correct." Confucius

ashton gustafson bishop realtors Wichita Falls Texas ag real estate

Real Estate Reality Check

Monday, September 20, 2010

by Ashton Gustafson

Good Monday morning to you!

I believe in Real Estate. I believe that it is the fastest way to build wealth and financial stability with the least amount of risk. Naturally, I am a bit biased, but no one has to be a genius to understand the principles of buying, selling, owning, renting, and speculating with Real Estate. At some point, every tenant needs a new place to sleep, work, or recreate - and you the INVESTOR get to play the role as provider for that need. It is really that simple.

In watching the market for some time now, I've seen 5 factors that effect the market: Iventory, Interest Rates, Mortgage Availability, Consumer Confidence, and Unemployment.

Here's a reality check for us all....

Inventory) - We're at an all time high. This means choice.

Interest Rates - We're at an all time low. This means affordability.

Mortgage Availability) - At least 90% of the people that I send to lenders get qualified. If you want a loan, chances are I can get you one.

Consumer Confidence) - We just had the most sales for August in our company history. The consumer is quite confident.

Unemployment) - The entire country wishes things were different, but we've seen "blue skies" here in North Texas.

No matter if its a $20,000 home or a multi-million dollar project, they all count. I would love to help you build wealth for yourself and future generations. Register @ www.TheFallsHomeFinder.com to keep your thumb on the market.

"The truly great tragedy is the destruction of our human resources by our failure to fully utilize our abilities, which means that most men and women go to their graves with their music still in them.” Oliver Wendell Holmes

Make it a great week.

wichita falls real estate ashton gustafson Texas ag real estate

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