HOMEiZ.COM Real Estate Technology, The Real estate social network (HOMEiZ.COM)

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3,354,317
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

I think the prices dropping are actually a side effect of the supply overrunning demand.  Picture a city losing its biggest employer.  Home prices don't drop before supply has overrun demand.  The prices drop as a result of the flood of inventory.

 

May 01, 2018 10:31 AM
Rainmaker
4,243,869
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

My crystal ball has never been a good predictor of the future but as a someone who has decades of life experience I can say we will continue to see change. In real estate and in other ways too. 

May 01, 2018 10:51 AM
Rainmaker
5,579,046
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

until there's an overabundance of homes (supply and demand) prices will not drop.... there's no competition....there's no time to market properly....they sell too quickly and with every sale, the price increases for that style home and vintage....

May 01, 2018 10:34 AM
Rainmaker
514,474
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

There is no mortgage melt down this time.  The previous crash was well anticipated based on easy money, too many flippers, fraudulent transactions of all types and unrealistic expectations.  

Prices will drop when there are outside forces alleviating the demand, through an economic slowdown, a national or international crisis. 

May 01, 2018 10:37 AM
Rainmaker
1,424,650
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I agree with Chris Ann Cleland.  It's not a matter of how much further prices go up, it's a matter of various economic conditions.  Interest rates, supply, desireability of replacement properties, rents, taxes, cost of living, weather, disasters, laws, employment, stock market, bond market, etc. that lead to it.  Any one of these could have a serious impact.

 

I'm in California, the land of the wacky laws.  Did you know we have 3 laws already to force taxes on gasoline to go to roadway repairs as was stated in the bill that got the taxes implement originally?  Guess what's on next month's ballot... yup another proposition to put gas taxes towards road repair.  Out here, laws and employers leaving are the biggest risk factors.

May 01, 2018 03:05 PM
Rainmaker
1,708,235
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I believe it is more about absorption rate as the prime mover on this.

May 01, 2018 11:33 AM
Rainmaker
5,767,371
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

law of supply and demand.

May 01, 2018 11:15 AM
Ambassador
2,604,443
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Zero in Tallahassee, in the upper price ranges.  We are not in a Seller's market.

May 01, 2018 10:58 AM
Rainmaker
704,432
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Wish I was working in those cities! There's no bubble here in the quaint, bucolic suburbs of Connecticut. Still very affordable housing & amazingly, even with our Asshole Governor, the taxes are far better than our neighboring states!

May 01, 2018 02:27 PM
Rainmaker
6,961,853
Roy Kelley
Retired - Gaithersburg, MD

There will always be market adjustments. We have a very strong market in the DC suburbs.

May 01, 2018 11:34 AM
Rainmaker
4,430,915
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

There is no real estate bubble. There is a shortage of inventory that is causing home prices to increase. It's econ 101--less supply, higher prices. Situation is totally different from the past when prices were doing up often due to speculation and there was plenty of inventory.

May 01, 2018 10:44 AM
Rainmaker
233,614
Denise Copeland
Home Sales Palm Beach - Jupiter, FL
Jupiter Abacoa Sales & Beach Front Luxury Homes

Prices seem to be dropping slightly. Sellers are still trying to get top dollar for their homes, but the buying market is resisting the elevated prices causing properties to linger on the market for extended periods of time. It's really going to be dependent on buyers not purchasing high priced homes in order for the market to soften.

May 01, 2018 10:44 AM
Rainmaker
2,099,747
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

You have many great answers here HOMEiZ.COM HOMEiZGROUP 

May 02, 2018 04:46 AM
Ambassador
5,696,016
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

When it is time the media will let us know, until then our folks are closely monitoring the market and have seen some parts turning over the last year.

May 01, 2018 09:42 PM
Ambassador
4,509,199
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

We are at a 1.7-month supply here in Charlotte and are desperate for inventory right now. I welcome more inventory, stabalizing prices and a more neutral market...it's best for everyone. 

As for the past 'bubble' burst - yes, when there were far more impactful financial issues that were at the core of the issue, the entire country's economy took a dive. 

However, I don't view this as a 'bubble,' rather a correction - a much needed correction!

May 01, 2018 09:36 PM
Rainmaker
711,284
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations
I don't think it's directly proportional to changes in price and values for markets to become buyer/seller or balanced.
 
It's more of a function of inventory per market, quantity of listings and momentum of sales. The resulting function is price.
May 01, 2018 07:29 PM
Rainmaker
1,346,119
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

The law of supply & demand drives our last 10 years, not inflated values nor bogus loans. There's no bubble. And you are asking a very regional question that will yield as many different answers as responders.

May 01, 2018 06:22 PM
Rainmaker
2,052,369
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

We hit that bubble in Minot ND about 2 years ago HOMEiZ.COM HOMEiZGROUP 

May 01, 2018 02:26 PM
Rainmaker
571,717
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

it is not a matter of how much prices have to drop to determine a Seller or Buyer market, inventory and absorption rate, availability and costs of financing determine whether a Buyer, Seller, neutral market.

May 01, 2018 01:53 PM
Rainer
85,337
Steve Penner
Royal LePage / Pro Ledger Online Software - Winnipeg, MB
REALTOR / Pro Ledger Online (owner)

... maybe the question should be...  "how many months of inventory need to be on the market before the market turns and prices are affected?" ... they tell me in my market...  a balanced market has about 5 months of inventory... 

May 01, 2018 12:48 PM
Ambassador
1,874,154
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

It's all about absorption rate. 

May 01, 2018 12:11 PM
Ambassador
1,009,426
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

$0

 

Do you see how many buyers are putting offers in on just about any quality property?  More available real estate is the answer, people are willing to pay for property at it's current price, so no change is necessary there.

 

May 01, 2018 11:51 AM
Rainmaker
2,683,552
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Both Stocks (wall street) and Real Estate remain strong and vibrant. Now is a good time for both and adding to this is low interests rates, tax cuts and major changes for the nation all good. Before this cycle resets, it may hold itself. When it does end one cycle to begin another, it may remain similar until an act of God or man changes it. Until then, it is running its course

May 01, 2018 11:09 AM
Rainmaker
3,376,034
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I am not sure if prices are the leading cause of a market flip. I think that if rates go to 5 or above, buyers will stop buying, listings will go up and prices will start to sink. 

May 02, 2018 05:22 AM
Ambassador
4,316,065
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

It is the inventory.

The supply is short and likely to be short for a while, HOMEiZ.COM HOMEiZGROUP

May 01, 2018 11:00 PM
Ambassador
4,721,167
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I think it's more about inventory...supply and demand. If the demand exceeds supply we will see prices drop. But all sort of things fuel demand.

May 01, 2018 10:20 PM
Ambassador
3,986,960
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Prices don't necessarily have to drop. It is more about supply and demand. We need lots more inventory, much more than the buyer need. We are at 2 month inventory and for it to be a buyers market we need 7 or more months of product.

May 01, 2018 05:49 PM
Rainmaker
3,986,000
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Prices do not have to drop to become a buyers market.

May 01, 2018 05:26 PM
Rainmaker
429,934
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

As others have said, it is all supply and demand. In the lower price points the competition is fierce. I recently showed a home in the low $200k range that had buyers waiting in line in the driveway to view the property. They received 7 offers the first day.

However, if you were to move up to the $1M range you will easily find homes on the market 90+ days. There are just not that many $1M+ buyers.

May 01, 2018 11:09 AM
Rainmaker
1,549,295
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Well, it is very different this time. But lenders can change all over again with bringing back some loan products. And they already started. 

May 02, 2018 11:51 AM
Ambassador
3,145,204
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Only time will tell ... we must allow life to unfold and make necessary corrections as it does. Change is the one constant in life. 

May 02, 2018 07:24 AM
Rainmaker
3,070,784
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Barbara Todaro nailed this one!

May 02, 2018 06:09 AM
Rainmaker
4,799,651
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't think prices have to drop.  Supply could increase.

May 02, 2018 05:22 AM
Rainmaker
4,507,336
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not happening anytime soon!

May 02, 2018 04:41 AM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Hope not.

May 02, 2018 02:36 AM
Rainmaker
1,598,130
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Your question was answered. Great answers. Good luck. 

Oct 30, 2018 10:59 AM
Rainmaker
2,066,074
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

Great answers are here. 

Oct 30, 2018 10:53 AM
Rainer
87,920
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

We are doing great.

May 07, 2018 12:50 AM
Rainmaker
5,261,301
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I think we are far away from the time we will seeing dropping home prices.

May 04, 2018 06:01 AM
Ambassador
3,070,956
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

it's not just price that creates a buyers market, inventory has the most to do with it.  And prices are going up in my market.

May 02, 2018 09:05 AM