An Air National Guard veteran, Morrison, 73, is with Irongate Realtors and has been a Dayton Realtors member since 1999. In 2016, he served as the body’s treasurer and chair of its finance committee. Last year, he was elected president-elect and oversaw several committees and projects.
Last year’s sales set records for local home sales: average price, median price, homes sold, and sales volume. Median and average homes sales prices rose just over 6 percent last year.
However, the inventory of available homes continues to be a challenge — and that’s one reason prices are rising.
Morrison sat down with the Dayton Daily News to discuss the Dayton area real estate market.
Q: What should people know about the Dayton home market today?
Morrison: "Inventory has been a problem for us in the latter part of 2017. Whether that continues or not, we don't know. There are a lot of variables. Interest rates … perhaps a half of a percent increase. Is it going to happen? The tax bill that was just passed — how is that going to influence inventory?"
“Sales were down a little bit in December, that’s seasonal. (Prices) seem to be holding up. The median sales price (increase) for 2017 was 6.04 percent. And that’s a pretty good year for us. We’re obviously hoping 2018 will be a continuation of that.”
Q: We're starting to see some talk of a housing price bubble. Are you seeing signs of that?
Morrison: "I've heard that also. Today, right now, I can't put a finger on it. Hopefully it doesn't happen. But anything's possible obviously. Real estate fluctuates so much from day to day.
Q: What is Dayton Realtors' role in helping Realtors and customers?
Morrison: "I teach classes for Sinclair (Community) College as an adjunct. One of the things I tell my students, my pre-license students, is that the Realtor is in charge of the process, the client is in charge of the decisions. That's our role — to provide them information so they can make the decision on houses and properties which they want to purchase."
Q: You're bound by a very detailed set of regulations.
Morrison: "The state has a number of license laws. That's a big, important part of being a Realtor — keeping yourself aware of what the changes are in real estate law.
“Then we have the National Association of Realtors code of ethics which really is that additional standard.”
Q:What’s your background.
Morrison: "I've been a Realtor since 1999. I had a whole other career before that. And I worked (across) the Dayton area — mostly north, because I live north (in Huber Heights). I got involved heavily after I got appointed as director (of Dayton Realtors) with board operations and such."
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