There
is no doubt that the real estate market is heading in a much more
positive direction. Sales of existing homes, pending sales of existing
homes and sales of new construction are all up. The media headlines are
now mentioning and, in some cases, are exclaiming that we have reached
a bottom. However, let's not lose track of the real data behind the
headlines.
Things are better. But, we still have a long way to
go. For example, though it is true that new construction sales shot up
11% in June, June has historically always been the best month of the
year for this category. And, in actual units delivered, this June was the worst June since 1982! I
am not trying to play the role of the pessimist just as I wasn't
playing the role of the optimist this past winter when I said the
market wasn't as bad as the media was reporting. I try to be a realist.
What is reality telling me right now? All our hard work over the last
twelve months is starting to pay off. Let's remain diligent in our pricing to ensure we keep the present momentum going.
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I was lucky enough to spend three days in San Francisco at the Inman Conference. Here are some things I found interesting:
Cool New Web Sites: as per Brad Inman, Inman News
jimdo.com - Create free websites.
issuu.com
- Explore a world of publications by people and publishers alike.
Collect, share and publish in a format designed to make your documents
look their very best.
mailchimp.com - Makes email marketing easy & fun.
screentoaster.com - Capture videos of onscreen action in one click. Record screencasts, tutorials, training, lectures and more.
99designs.com
- Connects clients needing design work such as logo designs, business
cards or web sites to a thriving community of nearly 45,000 talented
designers.
Seven things to do in Social Media: as per Jeff Turner, Real Estate Shows
- Look outside the Real Estate industry to see how other industries use social media.
- Put Facebook, Twitter and LinkedIn on all print material.
- Care about the people you are in touch with.
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Share openly and often.
Listen with intent. - Still meet people face-to-face.
Building a Brand that Matters - as per Alfred Lin, Zappos.com
- Decide what you stand for.
- Figure out your values and culture.
- Commit to transparency.
- Vision - chase the dream not the money.
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Build relationships - be interested not interesting.
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Build your team - hire slowly, fire quickly.
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Think long term.
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When you are working
as hard as we have been over the last twelve months, it is easy to see any
uptick in the market as an opportunity to rest. We cannot allow ourselves that
luxury. Our work is far from finished. We
must make certain that we finish this year strongly and have a great start to
next year. This will require every ounce of effort we can give. But, it will be
worth it!!
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1. Push for first-time buyers to take advantage of the
$8,000 tax advantage.
Time is running out.
Buyers have to close before December 1st. Don't allow anyone truly
looking to purchase a home in the near future to miss this opportunity.
Make one last push.
2. Build your listing inventory.
The
next few months are crucial in determining how you will finish this
year. And the way you finish this year, will determine the momentum you
will have going into 2010. If you owned a shoe store, you would want it
to be well stocked so that every customer could find something that
fits. It is no different in real estate. Make sure your real estate
'store' is well stocked.
3. Price them right.
There
are many headlines calling 'the bottom' in home prices. We believe that
future prices will be determined by the demand for housing in
relationship to the number of houses for sale. In that regard, this is
what we know. There is a pent-up selling demand created by sellers who have waited for the market to get better.
There is also a 'shadow' inventory of foreclosures that the banks are
holding for the same reason. They will start to come to market over the
next 90 days. Price your current listings accordingly.
4. Take a class on how to write an effective business plan.
For
most real estate professionals, anything they put into contract after
October 1st probably won't close until 2010. That means that a 'new
year' starts on that day. What are your goals for next year? What is
your plan? Have you committed the plan to a formal business plan? Treat
your business like you would any other. Take a class on how to
structure a business plan and see your income skyrocket.
5. Be passionate and determined, yet humble.
Real
estate professionals are working hard to turn the housing sector of our
economy around. And we are succeeding. We must stay the course and not
let the current momentum lose any steam this winter. We have six more
months of hard work to completely reverse the challenges we have
experienced the last few years.
Our success is entirely in our own hands... | |
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Now
might be the time to pull the trigger on that home purchase. According
to this year's National Housing Pulse Survey from the National
Association of Realtors:
83% of Americans still believe buying a home is a good financial decision.
75% of those surveyed also believe now is a good time to buy a home, a number that has increased steadily the past two years.
33% of renters are thinking more about buying a home than they were a year ago.
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Though the real estate market is definitely heating up, be careful not to think everything is fine. The economy (unemployment specifically) is still causing many to stay on the sideline.
According to a July survey released by Realtor.com, "Nearly
a third of potential homebuyers surveyed cited concern about their jobs
as the main reason they would shy away from the housing market."
If you receive a good offer, don't assume a better one is coming!
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Proof Moratoriums
Didn't Work
"Among servicers implementing a moratorium, just 7% of borrowers facing imminent foreclosure were 'helped', either in the form of repayment plans, modifications, reinstatements, or short sales.
That
number actually grew to 11% among servicers that did not implement a
foreclosure freeze - a result that is clearly at odds with reports in
the popular press, which have painted the freezes as a needed step to
help troubled borrowers."
Clayton's Holding's Inc.
July 2009 InFront RMBS Report |
Patti Kouri has a program to help you develop a more effective work flow and increase your everyday efficiency.
therealestategame.com
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"If you have built castles in the air, your
work need not be lost; that is where they should be. Now put the foundations
under them."
~Henry David Thoreau
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"
Thank you so much for taking the time to gather this wealth of
information to help us stay "Top Notch" in our business. You have made
believers out of all of us with your information!! Thanks again.... "
Vicki Woody
Long & Foster Real Estate |
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