What do you see happening in the market?


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I had several recent calls with franchisees that have been surprisingly upbeat about the market. Paul Parker in Denver said they are having trouble buying because there are so many investors coming out bidding on properties. He said it is almost like a "frenzy." Rickey Williams reports that the inventory of houses on the market in Houston has actually dropped over 6% in the last year. Nick Cifaldi, in Philadelphia, said he has had a good 6 weeks, though there are still challenges. Even Minas Litos said there are parts of the area surrounding Gary Indiana that are showing life.

Then I had a conversation with Mike Blatney, the manager of our REO department. He reports that activity across the country has definitely increased. "We have received multiple offers on 3 different properties in the last two days. I do not remember that ever happening." Mike went on to explain that he believes investors are seeing that there is a "window of opportunity" and that many are afraid they may miss it! (He also shared how we have put over a third of our REO properties under contract. We closed more in the last month than we have in the last 5 months combined!)

So, what do you see happening in your market?

And, Why do you think the activity is picking up? Is it:

  • The normal increase we see every spring?
  • Are investors beginning to see that the bottom is near, and it is time to jump in?
  • Is it the stimulous package, and the $8,000 tax incentive?
  • Maybe some combination of all three?

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