With the combined commercial office vacancy rate of 20%-25% in Stamford, at present, and the GE Capital and GE job losses, it should come as no surprise that residential real estate inventories are on the rise. At least 50% of the inventory is “job” related. Other categories are down-sizers and market testers. As I always say, if you are testing the market, go list it with someone else. People make it hard enough, as it is, to sell real estate. Over-pricing is one of the biggest problems in the market.
Unfortunately, many brokers don’t really pay much attention to the economy, and don’t have the interest or the ability to understand it. Sorry, it is another one of those ugly truths about the business and many who inhabit it. With so little barrier to entry, what do you expect? You have a real problem if your state is not a business friendly place to do business, and a bigger problem if the government is running in the red. The taxpayer always gets targeted.