This morning I called on an expired listing.

The house was in a good location and had been updated but was grossly, GROSSLY overpriced.  

After introducing myself, the owner let out a long "sigh" which I recognized as the dreaded "realtor fatigue." 

Here's what I found out:

1) She wasn't going to list with a Realtor.

2) She bought in 2008 and then helocked herself out of existance.

3) She disputed the comps and said "they don't mean anything" because her house was better.

4)  When mentioned that the house wouldn't appraise at her price she said:  "not my problem, if they want the house, the buyer will have to come up with the difference."

5)  She blamed the banks and buyers who didn't appreciate her work and the flat fee brokerage who charged her $800 to upload the listing in the MLS with no sign, no lock box, or advertising...etc. 

6)  Even renting at market price, she would be losing over $500/month.

7)  She was going to wait for that "one person who will fall in love with this house"  (to the tune of $1600/month).

OVER-EXTENDED, UNDERWATER  AND HELL-BENT TO BEAT THE ODDS.

I listened to her for a long time because she needed to vent.   She was right and everyone was wrong .  Yes, it was a tiny, cute house but we have lots of cute houses for sale.  And no, the new tiles in the only bathroom isn't going to make up for the fact that the competing comps have two and the new granite in the kitchen isn't worth $60,000.  Not here.  Not now.

All I could do was listen and wish her luck. 

Stubborness and denial is not our friend.  I let this be a lesson to move forward with my eyes wide open .  See things as they are even if you don't like the view.    

Alyce Martin. Albuquerque Realtor
http://www.HomeSearchABQ.com
(505) 331-8285

Wordless Wednesday - Haunting ruin of three mission churches, at Quarai, Abo and Gran Quivara (circa 1620-1670) near Mountainair, NM. 

Photo Courtesy of Cullen Boardman

Photo: courtesy of Cullen Boardman (my son!) - somewhere off S 14 outside ABQ.

To Tree Or Not To Tree?  That is the question when your house is on the market during the holidays.

Do you Macy it up with a towering, teetering tree bedecked and bedazzled with an overabundance of bows and baubles that creates a load only an engineer could appreciate? 

Or are you tasteful with a tidy wreath on the front door and a few sprigs of greens on the mantle? 

What's the message are you sending out? 

Scenario #1:  Please, please, pleeeeeaaaaaaassssseeeee buy our home!  Can't you just envision yourself here on Christmas morning, opening gifts by a crackling fire (recently sweeped as indicated in the Seller's Disclosure).  Notice the updated electrical - how else could we run all these megalights day and night and run the dishwasher at the same time?  Did you see our illuminated For Sale sign or did you google the neighborhood and find our lights on the satelite view?  Oh by the way, want a cookie?  We baked them in our double convection oven in the updated kitchen (notice the stainless steel and new granite, thank you)!  We are SO desperate to sell our home, we'll even throw in the fake presents under the tree!

 Scenario #2  Bah Humbug.  I know it's Christmas but frankly, we're so broke we're not doing anything.  Please buy our house.

 Scenario #3 - Welcome to our home.  We are continuing our usual Christmas tradition even if our house is on the market.  We've had many good memories here - and we hope you will too. 

Personally, I go for #3 - enjoy the holidays in your house (tastefully) after all, if all goes as planned, it will be your last. 

How do you advise your clients to decorate during the holidays? 

With all the recent chatter about our profession and snotty realtor bashing, ever wonder where you fit in?  Are you a great agent or a hack?  Here's what's recently happened to me:

Late this summer I worked with a first time homebuyer, a lovely young woman who was a delight to work with.  We looked at properties while she worked with her lender to get her ducks in a row.

I found a house I thought would be perfect for her but it was a little over her budget and unfortunately, it fell short of the only real criteria she had to have and that was a dishwasher.  

But this smart buyer could see that the area was absolutely killer, located near Albuquerque Uptown and a mere stroll away from the new Trader Joe's (we love our Trader Joe's here in Albuquerque).  The house was smaller than she wanted but she recognized the potential.  We submitted a successful offer and negotiated the price down to a level that was more affordable for her.  There was a little drama and some tense moments, but nothing that couldn't be made right. 

The closing went without a hitch.  It was "a small deal" but I really felt good about the job I had done but heck, that's what we do, right? 

Onward.

Fast forward four months to a couple of days ago.  I got a call from the buyer and she sounded panicked.  Seems a pipe burst in the attic due to the unusual cold snap we've had and she didn't know what to do, so she called me!

After a series of rapid fire calls and return calls we figured out a working plan.  Her insurance company put her up in a hotel and a local plumbing company made an emergency appointment.  It's all going to work out.

That's a Realtor.  We take care of our clients long after the "deal" is done, not because we have to, but because that's what a real professional does.   

 What have YOU done for your clients - beyond the "call of duty?"  Please share!

Tulips are not the only things blooming in Albuquerque . 

The Albuquerque Housing Market never experienced the severe home price depreciation that some areas of the country did.  And although we do have some foreclosures and short sales, these properties do not dominate our market.  We have homes that are priced to sell and lenders have money. It is still a "buyer's market" with an absorption rate of about 9 months but days on market are getting shorter.  Smart home buyers have positioned themselves and are poised for purchase. 

Here's a snapshot for March from the Greater Albuquerque Association of Realtors:

·Pending Sales for detached, single family homes increased 41.1% since last month, the numbers are

only 10.5% down from this time last year.

Pending Sales for Rio Rancho detached, single family homes went up 101.4% from February 2009,

and increased 17.6% from last year at this time.

Sales for both detached, single family homes and condos/townhomes went up 37.2% from last

month.

Good news for Albuquerque!  Are you noticing upturns in your marketplace?

Big SHOUT OUT for Greg Nino.

Called him about Growth Leader and he gave me a heap of info.  No sugar coating cuz Greg's a straight shooter.

What an asset to Active Rain.

Greg's a super busy guy.

Real successful.

What a nice guy.

Thanks Greg, I really appreciate it!

At Lowe's, they had fence panels for sale at 50% off.

I need to build a fence.

I really, really thought about those fence panels - a lot.

I thought I'd just wait a little longer though, maybe when the weather got just a little bit warmer.

So, it's turned warmer. 

Yesterday, I went to Lowe's to finally buy the fence panels that I wanted.

They were gone.

They were such a bargin, the Lowe's guy told me, people just snapped them up.

Now I'm kicking myself.  Hard and frequently.

Will today's home buyers who are sitting on the fence kick themselves later?

I wonder.