So far, 2011 has been a rollercoaster. First we're up and then we're down, then we take an unexpected twist and we feel like we're going to lose our lunch. At least that's the way it feels to many who have been trying to sell their homes -- and to many Realtors trying to advise their clients.

The close of the 4th quarter 2010 and leading into 1Q of 2011 was a good time. When asked, "Jeff, how's the real estate market these days?", my response was quite positive. All indicators were pointing in the right direction. The economy wasn't great but had shown some improvement and consumers started to regain a little confidence. In my office at the time, we had closed nearly 60% of our sales volume in the first 3 months of 2011 than ALL of 2010 combined. "2011 is going to be a GREAT year compared to the last two", I gushed.

Then the 2nd quarter took a steep dive. Although, looking at the actual data would suggest otherwise. Sales were up and Realtors were still abuzz with excitement. However, it has turned out to be the residual effects of 4Q 2010 and 1Q 2011. In reality the bottom fell out - again. Not so much with home prices but more with the demand for homes.

The 3rd Quarter of 2011 has been a bust and many home sellers have been sorely disappointed. What should be the "hot selling season" has been lackluster at best. The fact is there is just a dearth of Buyers right now. It seems the economy hasn't been doing so well - again. Ugh.

Well, hopefully, the latest news is correct and we're going to start picking up again. The Denver Business Journal just published an article that shines a glimmer of hope for the 2nd half of 2011.

You can read it here: Experts forecast stronger growth in second half of 2011

Essentially the article states now that the tumultuous effects of the Japanese earthquake are known and gas prices are starting to fall, we will probably start growing again at a better pace. So they say.

I agree with Jennifer Lee,

... the report confirmed the toll that high gas prices, Japan-related disruptions and high unemployment have taken on personal spending in the second quarter. "Here's to a better third," said Jennifer Lee, senior economist at BMO Capital Markets.

Cheers, Jennifer! Here's to a better 3rd Quarter.

If you are a home owner trying to sell and it doesn't look good - hang in there. Get your list price as low as you can afford to go. Staging and updates make a big difference. Think outside the box - maybe consider something creative like Seller Financing, Lease/Purchase, "Subject To", or a Wrap.

If you are buyer, PLEASE take advantage of the times. It's a great time to be a buyer. Understand not everyone can give away their home. Most homeowners just don't have the equity or the stomach to let you steal their home. However, there are deals out there and you're in the best position to negotiate as you have ever been.

If you'd like to talk in more detail about Selling your home or Buying a new one, call me today @ (303)506-4052.

Regards,

Jeff Wimpy
Cherry Creek Properties