Will the Dow Jones stop the real estate bull market in it’s tracks

Big drops not good for consumer confidence

There I was today driving back to Jupiter from an early morning showing in Palm Beach and the phone rang. There was a voice of terror on the other line “the Dow is down over 500 points at the open”. Not great news and I did not get much further up the road before the phone rang again “now it’s down over 1,000”. Panic type stuff and brings back memories of 2008. But even then the biggest 1 day crash was 777 points.

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The Dow dropped over 33% in 2008 and since then it has been a 6 year bull market that no doubt has been bullish for real estate. Single family homes in the Northern Palm Beaches had their biggest one year loss in 2008 and the fear rolled over into 2009 which were the two worst years for median single family home price ever in the area. Down 19% one year, down 12% the next and much of it was fear in the economy coupled with the loss of wealth.

The market has recovered since that opening drop today but the reality of a big, immediate, correction made everybody stand up and take notice. All signs had been pointing to a very strong bull market continuing through the season here for property in Jupiter and the surrounding area. But over the past few days one can see that nothing is a sure deal. Median prices of single family homes are up so far this year for the 5th time in a six year stretch. But the stock market was our friend. If it turns into a foe be careful.

Fins up…..

Tom Priester
Principal Broker

Paradise Sharks
561.308.0175
info@paradisesharks.com

#dowjonesandrealestate

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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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