Today was our last Club Realtor® Meeting of the year. Our very active group discussed each of our “Aha” moments of 2009, and in summary, agreed that we had worked double time to achieve the same level of gross commission. You could say that 2009 has been a year of attrition for Realtors®.
As far as market insights, the feeling amongst our group was that the market in Brentwood TN and the greater Nashville area will probably see yet another year of slower sales in 2010. Generally, however, we agreed that we will be emerging from this slow market towards the end of the year 2010. Luxury homes, as expected, will continue to experience slower sales due to high inventory levels and loan acquisition. Jumbo loans are proving to be a volatile arena. Getting your hands on a multi-million dollar loan is not as much of a slam-dunk as it has been in the past.
Short sales still plague the market, and the forecast for foreclosures is looking very high into 2010. This USA Today article states, however, that the foreclosure rates have dropped for 3 consecutive months, hinting that there is a recovery in sight.
Club Realtor® is a group of about 20 Nashville area Real Estate agents who have come together to share insights and learn from other Realtors® in our market. Our goal is to discuss emerging trends, creative problem solving, and current industry news and learn from our peers in the Real Estate industry in the Greater Nashville Area. Club Realtor® is open to all Realtors® in the Greater Nashville Area, please contact me for information on joining our next session! Linda Doyle (615) 330-5220 or lindadoyle@kw.com
