“Bad News” Doesn’t Mean A Bad Real Estate Market

Neal Hanks, President

nealhankssitting-croppedThe media reports have not been friendly to the real estate industry these last few months with numerous articles about an industry struggling to gain momentum. Particular emphasis has been placed on sales as compared to the prior year. As those of us in the industry know, this is an inaccurate comparison as the sales in January through April of 2010 were fueled by tax credits and as expected, sales this year have been below those levels.

graphMay is the month in which the tables have turned. As you recall, sales dropped dramatically in May of last year. Beverly-Hanks & Associates sales will be up over 40% for the month of May 2011 when compared to 2010. This trend should hold for the balance of the year, not just for us but across the country. Hopefully, the real estate news going forward will be rather positive as the market does appear to be gaining steam, particularly when compared to a weak second half of 2010. Consumer confidence will rise which will add fuel to the fire, albeit a smoldering one.

People who act in this transitionary market will reap large rewards. Will you be one of those?  Be careful though markets are still in a state of flux. Properly analyzing your real estate opportunities will be the key to being successful in this market. Again, good counsel supported by solid data will provide the insight necessary to prosper. I believe that we now have the wind on our backs, instead of in our face, and the opportunity to capitalize upon it is now.

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To obtain a copy of our 2011 Quarter One Market Report: CLICK HERE.

If you would like assistance evaluating your real estate opportunities in Western North Carolina, please feel free to contact us at [email protected]