'Houses for sale' search soars. Are real estate investors searching for deals?
By Daniel Rothamel, Inman Community Manager, Tuesday, September 30, 2008.Bookmarking Sites
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As down as the financial and housing markets are right now, everyone knows that the best investors make money in up AND down markets. Hitwise Intelligence just reported that the internet search term, "houses for sale," just reached its highest volume in 2 years.
Might this indicate that real estate investors are "timing the bottom," and preparing to re-invest?
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Submitted by bob jones on September 30, 2008 - 11:37am.
Yes! Obviously, we're at or near the bottom. Just like these blogs have told me for the past two years. Amazing developments, I look forward to the next three years worth of bottom proclamations.
Submitted by Dave Dugdale on September 30, 2008 - 8:01pm.
I wish I could afford Hitwise date at $35K a year and see charts like that.
Houses for rent in Coeur d Alene
Submitted by G Dewald | Union Street Media on October 1, 2008 - 8:31am.
Here is a Google Insights search covering the same time period with the same phrase (and a couple others).
Granted the Google tool is only looking at Google and doesn't show absolute numbers or percent of all searches. But it does show trending. The Google Insights isn't quite agreeing with Hitwise.
Insights is in beta and perhaps their data isn't fully digested for September yet. Also, the graph I link to is just for searches originating from the US (you can alter the search to be global if you like but the general trend isn't much different).
I suppose I should include a standard speech about the difference between panel-driven data and use-driven data... but I'll pass for now.
G. Dewald | Union Street Media | Real Estate Internet Marketing Blog
Submitted by bob jones on October 1, 2008 - 8:47am.
I just find it hilarious that the industry cheerleaders are so desperate for any sign of things to change that they are using web metrics as their new source of good news.
Submitted by Peter Vekselman on October 1, 2008 - 8:53am.
I certainly agree the best investors do well in any market....and are always searching for good deals.
As for whether we are at the bottom of the market, it really depends upon who you are listening to these days. According to a financial analyst today in the news we are looking at about 18 more months of recession, even with the bail out plan. According to Real Estate Associations, we are nearing the end of the recession as it started about 3 years ago out west, worked its way east and that is about the longest stretch of time with recessions historically.
We really do not know, that is the reality. However unless and until investors get out there and start buying and selling homes, we will remain stagnant in this market. They must lead the pack and other buyers will follow suit.
Financing has made it very tough on investors and buyers, but good investors likely have the resources or the hard money to work with that the typical buyer does not.
There are fantastic deals out there and investing can be quite rewarding as any good investor will tell you. The key is knowledge of the process, do not go it alone!
Peter Vekselman
Real Estate Investment Coach
Submitted by Jay Thompson on October 1, 2008 - 9:16am.
I find it hard to believe any investor with just a modicum of knowledge would conduct a search as generalized as "houses for sale". Most investors (and "regular" home buyers) are bright enough to fine tune such a search.
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Lenn Harley on October 7, 2008 - 2:30am.
If my telephone and e-mail traffic is any indication, YES, investors are out in droves looking for "deals".
The pros are out looking for properties in luxury neighborhoods for 25% of list..
The amateurs are out looking for something, they don't really know what. They just know that they want a deal.
They don't want an agent, they just want lists. One caller told me she didn't care what she bought, she just wanted to make sure that she got "instant equity".
At this time, I'm getting about 10-12 of these calls and e-mails a day. The traffic is up. They are responding to the news reports of the proliferation of foreclosures for sale. What the news reports don't include is that the
foreclosure sales are priced to market.
Are there good buys out there, YES, if you are a cash buyer and can finance the rehabilitation of the property.
We sell foreclosures as a part of our normal home search for buyers. They are priced slightly below market and depending on the area and public school district, may actually sell for more than market to buyers who believe that all foreclosures are a good "deal". They are not.
Foreclosures are just another property for sale.
Lenn Harley
Broker
Homefinders.com
http://www.homefinders.com
Submitted by Ned Carey on October 20, 2008 - 11:14pm.
Good point Jay, it sounds to me more like journalists searching for data to write about.
Ned Carey
check out my blog
http://baltimorerealestateinvestingblog.com/
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