The number of active residential listings was actually lower year-over-year by more than 5%. Of course this points to more competition in competing homes.

9% of the sale were short sale or bank owned this is an increase from 3%. CAN you say BARGAIN shoppers !!

Residential inventory for housing increased to 10.4 months in May.

Settled residential sales has increased each month since January 2009. In May, foreclosure properties comprised 16.3% of settled residential sales. Foreclosures have been holding steady between 14.6% and 17.2% each month.

Pending sales are up.

May 2009 Highlights Listings: Residential active listing count went up slightly from 14,326 (Apr 09) to 14,401 (May 09) a 0.5% increase, but it is down year-over-year by -5.2%.

Sales : Total Residential Sales were down by -10.36% as compared to May 2008 (1,531 vs. 1,708).

Inventory

Compiled monthly by Sacramento Association of REALTORS® and rewritten and inspired by me with a little spin !

My name is Naoma Doriguzzi and I am a mortgage consultant with Union Mortgage Group. I have been doing mortgages for the past 4 years in Virginia. I have access to hundreds of programs and there is a loan for almost every situation. Whether you want to purchase your dream home or refinance your current home, I can provide a custom solution to fit your need.

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Because most of my business comes from referrals, you are very important to me. When you refer your friends ,family and people you care about to me, you allow me to focus my time and attention on you and your borrowing experience. Your endorsements are greatly appreciated! You are the foundation of my business.

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Naoma Doriguzzi 757-971-2876 Cell 757-306-3300 Office 757-306-3304 Fax ndoriguzzi@union-mtg.com

Justin A. Williams Sr. Loan Officer Office Phone:(757) 490-9200 Cell Phone:(757) 692-3464 Address:4701 Columbus St Suite #300, Virginia Beach, Va, 23454 Email: Justin.Williams@prosperitymortgage.com

I just wanted to comment on the recent buyer traffic in Hampton Roads. I currently have several listing 1. Virginia Beach 2. Norfolk 3. Portsmouth. It appears in the last 30 days I have had more calls on them than in the last 60 days. I wonder what give. Maybe buyers are seeing this is peak season. Get the home before the end of the year and have a fresh start. I’m hopeful my listing in Hill Crest farms gets a solid buyer soon. My two Norfolk listings are getting great activity and I might have one with a real solid buyer if the bank will approve the short sale. Portsmouth listings still seem to be pretty slow. No calls or traffic I have not even had an investor bite on this one ? Well I do think the buyers are seeing now is the time. GET the best deal of the century or wait another year to buy. Who know what the state of the economy will be then ? I know if you bite now at least you can get your interest free government loan and get all the new furniture or maybe pay off other debt at 0% wow how can you go wrong. ?

We ask ourselves this on a regular basis. As I sat in my business planning session today at RE/MAX Allegiance we all pondered this question. It’s a tough situation for buyers, sellers and even agents. Everywhere I look it seems someone is being affected by this crisis. We hear about layoffs, Stock Market drops and the bust of the housing bubble along with a credit crunch. As business we spend the same amount if not more in this market on advertisements, fees, dues and associations. Now we have tech tools, websites, and a multitude of other expenses to keep ahead of the competition. There are days I wanted to shut down and scream doom and gloom just like everyone else. Instead I spent my time thinking wow I should be thankful I am successful. And I have been the past few years. I never in a million years would a thought I would earn a 6-figure income. Me, yes me the average student in school who had the hardest time not typing anything with out a misspelling or a grammar issues.  (I still do) I did not go to collage or business school. I just have drive and determination. I choose to be successful. YES I think you can CHOOSE what you are and are not going to do in this world. I find my self-looking at basic skills. Door knocking, Open houses, ANSWERING my phone when it rings. Its time for us to get back in the game. Put those rose colored glasses on. You know the ones you had when you got your license. It seems that all we see is doom and gloom. I want to go back to the bliss of the unknown. I don’t know what is going to happen. I have no idea if Ill still be around in a year or two. I can tell you this. I’m not quitter. I have no one to blame but my self if I don’t get up and make something happen everyday. I just know I’m still willing to do what I can to be successful in any market that comes our way.

 I earned my license  (YES EARNED) it in 2002, Heck no one gave it to me. I had to work for it. At that time I had no idea of a doom and gloom market. I was a hot tamale ready to jump in the car to every home. I was a team leaders dream. I was young aggressive and willing to soak in loads of time to make money. I knew nothing of the stress or the worries that comes with real estate. What happened to us? I think anyone who has been in this field for at least 4 years for some reason thinks we are all supposed to sit and wait for the calls to come in and the sale to just happen. I’m seeing now that was GRAVY and if you want to stay in this business its time to WORK  

What are my feelings about 2009 Market?  It’s going to be a crazy roller coaster. I have to be at the top of my game. Work more earn less but be 100% in it. I am not going to find the freedom of what I do anywhere else. I love my job. I love my clients. And I love the feeling of success after a closing.