The old year is out and the new year is in. Happy 2009.

How shall we approach this year? What will be your "weapons of choice"?

Same as usual? Or is it time to just put down the old weapons, tools, devices, and gimmicks? Most of the old marketing techniques just don't work in this new emerging environment.

Perhaps we need to listen and hear what the cunsumers, customers and clients are saying. Maybe they are tired of the constant hype?

Perhaps out audiences would rather hear truth, factual market data information, sincerity with understanding?

2008 was a very difficult year for many. Many persons, old and young, fat and thin, tall and short, cool and uncool saw their homes values and retirement 401's plummet!

Good old Wall  Street lost trillions.  Some in 2009 we all begin a little, or a lot more, poorer. Everyone is much more fearful and edgy.

What we really lost in 2008 was "trust."  People no longer trust, as they once did, our banks, our financial institutions, Wall Street, media, our elected and appointed officials, mortgage brokers, real estate brokers and agents, lawyers and just about everyone else.

We are all going to have to work hard and over a long time period to restore  that lost trust.

BIll McInerney

Three very BIG cheers to the Boston Boston Journal from running the inside headline, Brokers Advise a wait-and-see approach to reral estate.  To quote: "Real estate executives are advising clients to wait for the market to settle down before making any costly real estate decisions."

This article pertains to the commercial market, but in my opinion,  can well be applied to all market sectors.  We are in the worse  global and national, financial  and money markets in almost 100 years. Customers and clients require, more than ever before, blunt and candid information.

This is tough news for anyone attempting to make a living on a commission basis. We all need patience. To make matters worse do not expect, nor anticipate, a fast or speedy recovery. 

In some instances, buyers ans sellers, may well be best served by taking a wait-and-see attitude.

Unfortunately, just like farmers we hit droughts or floods or other market disruptions. I've been in this business for decades and we have good markets and not so good markets.

This is a terrible market.

As they use to say years ago when the banks catch cold, Realtors and brokers and agents  catch pneumonia!

We have all seen the ranks of Realtor memberships swell in every state in the union. Just about everyone it seems now has a real estate state license in his pocket or purse. 

From what I read in the national financial papers is that the housing market is in the worse condition since the Great Depression of the 1930's. 

Today's takeover of Fannie and Freddie is going to cost big taxpayers dollars and beginning at $200 billion!  

Yes, we are going to see a great deal of attrition as good, dedicated and educated people leave the ranks. We are going to see many real estate offices close and vanish after years of hard work by the owners.  It not easy, it's not pleasant; it just is.

And like farmers, those of us who some how manage to stay the course, will now prepare for the next season and hope and pray for the best. 

No one every said real estate was easy.  

Bill McInerney 

In the past decade we all saw home prices soar past value! 

In my opinion, sound concepts, principals and practices of the real estate and financial profession were thrown overboard in a mad feeding frenzy for profits and personal gain!

A great many firms and individuals made money! It was a genuine "gold rush!"

And it has ended.  Now a great many home buyers, bankers and investors have lost substantial money.  Fanny Mae & Freddie Who may well have to be bailed out by Uncle Sam. 

For those who jumped on the seemingly unending band-wagon, in the past several years,  the truth hurts. It's over.  And it will be for some time. 

No one every said real estate was easy. And today it has been made much more difficult.  So don't expect a quick and easy fix.

The numbers of real estate firms, brokers and agents swelled duing the gold rush. Mortgage brokers, appraisers and home inspectors multiplied! 

There is an old saying, " Rising waters lift all boats!"

Well, now waters are receeding.     

Bill McInerney

Breaking news: Biggest Home Price drop in 20 years!

I consider it the return to some sanity. Home prices reached an impossible level in the past several years.

A home is for living and not for speculation. The Wall Street guru's had a field-day toying with the real estate market leaving us all in its wake financial and economic disaster. 

Home prices  should appreciate 2% to 3% per year. Homes should provide comfort, peace-of-mind and security. Instead Wall Street and the Washington folks gave us McMansions, the quick buck syndrome and the creation of "Flippers."

Where is "ethics" in that newly created real estate phenomena of flipping ? Buy low, wait a while, and sell high or higher reaping great profits,often times by doing nothing, while inflecting the financial misery we are now all witnessing.

How do you heat a McMansion?  With a second or third job! 

Just where were the state and federal regulators? Where were the Consumer  Protection Agencies? Never mind!

We now need to enter a state of housing pricing recovery and normalcy. Perhaps in the somewhat near future young adults will be able to afford homes in the communities they grew up in rather than seeking housing in the far away boonies. Some young people are now commuting 100 miles per day plus as gasoline reaches $4.00 per gallon. 

Sadly the recover is going to cost a great number of people emotional and financial pain, stress and loss.Shame on Wall Street and double shame on both sides of the aisle in Washington.

Bill McInerney  

This is and very old expression and applies to our present real estate market conditions. These are indeed exciting times for those who are wide awake and alert.

The real estate business in changing because of the Internet and the Mortgage Melt-down has thrown everyone a nasty curve ball.

However, I'm of the opinion that the basics of real estate will prevail. It always comes down to Location, Location, Location! 

Sadly the mortgage meltdown fiasco will hurt those living, owning and working in the profession in the older larger communities of the Northeast. The affluent, most desirable communities will be OK for the most part. In these communities  homes prices will drop  but not that dramatically.

It will come down to location + condition + timing + expert marketing + dedication to the business. These are not easy times  but these are the times in which our customers and clients deserve, and need, our individual best and honest efforts. 

I believe the business needs a big dose of total transparency and plain straight talk.