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Viewpoints, Part V

RISMEDIA, January 31, 2009-Over the past four weeks, we’ve been privileged to speak with industry leaders in order to better understand what we can expect from real estate in 2009-and better yet, how to face it. Today, we conclude this five-part series with Kevin Faherty, vice president of operations and sales for Centralized Showing Service who says real estate will become more stable and experience a steady growth in demand.

Kevin Faherty
Vice President of Operations and Sales
Centralized Showing Service

As the new president takes office, I believe there will be an immediate uptick in home sales. With multiple factors hitting all at once, real estate will become more stable and experience a steady growth in demand. Besides the bailout money injection helping to free up the mortgage industry, the national press will be the other huge factor.

In general, reporters and news commentators will be much more positive once the new president is installed. Also, pundits on the real estate industry will begin to compare January ’09 figures to January ’08 sales. Since January of last year was in many ways a low watermark, this comparison will feed into the positive atmosphere the media will be communicating.

When it comes to home showings, there really hasn’t been much of a decline in the number of showings per listing. Buyers are still out there looking. They are just taking much more time than they used to before pulling the trigger.

Everyone wants to see where the bottom is. Once the national media declares that the bottom has been hit, buyers will start to make purchasing decisions-slowly, but they will do it. And with the capital markets mending, they’ll have the money to do so.