Congrats on your job. I imagine that on-line real estate sales will increase, given that the housing bubble and it's subsequent deflation have been formally acknowledged. I caught a piece in the Seattle Times today which said the following:
"U.S. home prices may fall for the first time since 1993 as a record number of homes for sale gives buyers the upper hand in negotiations, the National Association of Realtors (NAR) said...
The inventory of new and existing homes for sale has swelled to record levels as the five-year U.S. housing boom comes to an end."
There's a silver lining in this for Redfin. A lot of people will start dumping their properties, and this will mean more listings. If Redfin has any price advantage over traditional realtors, this could be very good for them.
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"U.S. home prices may fall for the first time since 1993 as a record number of homes for sale gives buyers the upper hand in negotiations, the National Association of Realtors (NAR) said...
The inventory of new and existing homes for sale has swelled to record levels as the five-year U.S. housing boom comes to an end."
There's a silver lining in this for Redfin. A lot of people will start dumping their properties, and this will mean more listings. If Redfin has any price advantage over traditional realtors, this could be very good for them.