To Panic or Not to Panic? I guess that depends...

There is do doubt that the residential resale market in Vulcan is slow compared to last year. I have pointed this out to a few people - in January 2014 there were 6 residential sales within the Town of Vulcan. From January 1st to April 30th of this year, we have had 10. Once we have the stats for May, I think the stats will be a bit more on the positive side. However, for those people looking to sell their homes, it can be frustrating. I lost a listing this past week to a client that I have been dealing with for a few years now. I do not blame this client, as I have had the property listed off and on for a couple of years, but the interest is just not there. So, that client listed with another brokerage, reduced the list price by $100, and is hoping for the best. I hope for the best for that client too. Nice property, just not the interest right now for that type of buyer. One the other hand, however, over the past six months or so, the commercial market in Vulcan has seen some very positive changes. One business bought a building, has renovated it, and moved it. When they left their location, another business renovated and moved it. The local furniture store who built at a new location, now has a tenant in their old location, and that business seems to be doing quite well. A couple of other businesses have moved around, and those that have, are improving their new locations. Commercially, there is plenty of activity in town. There are still some vacant buildings in town, but there does not seem to be as many as in the past. Plus, businesses are spending the money to improve their properties. This means more money being spent locally. Does this mean more local jobs? One would assume so, but I do not have those statistics. I think that it is going to be an interesting next year or two. Not listening to the doom and gloom on the TV, or reading it in the big city newspapers, we seem to be doing quite well. I am not ready to panic yet. In fact, I am feeling a bit optimistic....but don't tell anyone yet.