Tuesday, March 18, 2008

A Sure Sign of Spring

After touring quite a grand new listing on broker's open today - the only one this week - I went into the office to go through my mail and leave notes for other agents. As I left, I ran into an old friend who spends a great deal of the winter (and some of the summer) in South Carolina. Although he'd hate to be called a "snowbird," his return did herald spring.

As we stood and talked on the sidewalk outside Doug's, our discussion turned to real estate - surprise! He told me that last year his investment group purchased over 1.5 million in Syracuse. This represents about 15 houses. They are currently waiting for the banks to give them a go ahead for another round, but he states that it's slow.

"Everyone's being careful," he said. "We have a lot borrowed out there and they don't want to take risks."

He asked about Skaneateles and I told him. He reiterated the "everyone's being careful" comment, then reminded me that he had a great waterfront parcel quietly for sale. I in turn pitched him my multi-unit, and we both laughed.

"There are some good deals out there!" he said in parting.

There are indeed! Now is the time to scoop them up!