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Waiting for the Light in the Tunnel

By
Education & Training with Corcoran Consulting & Coaching

Not surprisingly, when I go speak somewhere, people always hope that my crystal ball fit within my airline luggage limit.  They say:

It's been a little scary these last couple of years. Do you think the market will get better soon?

I always say "Yes!" Why? Because it always does. Markets, by their very nature, are cyclical. I know when things slow down, nerves fray. But step back and look at the bigger picture. Markets go down and they go up. As for the current market, I'm just one of many who's saying that because of the ultra-low interest rates and the incentives for first-time home buyers, the market will improve this summer and the rest of 2009. Let go of the fear and attack it with the best attitude you can muster.

By the way, you will notice that I really didn't need a crystal ball to predict that slumping markets will rise again.  A lot of  what makes markets rise is confidence - regardless of the facts. That's why attitude is so important. As agents, we are in position to exhibit a contagious confidence that shows we believe there's that light in end of the tunnel.

Bob Corcoran

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Angela Lawrence
Noble Merit, REALTORS® - Winston-Salem, NC
Broker/Owner

I am sure in time it will get better, but we feel like it will be awhile, with foreclosures predicted to peak at end of 2010 and more layoffs coming, it will be a rippling effect.

May 30, 2009 11:53 PM
Roy Kelley
Retired - Gaithersburg, MD

We are seeing multiple contracts on many properties. The REO inventory is where the bargains are found in Maryland. Those that are still waiting for the bottom of the market should be in the market before interest rates go higher.

Follow me on Twitter: http://twitter.com/roykelley

May 30, 2009 11:56 PM
Bob Corcoran
Corcoran Consulting & Coaching - Swansea, IL

Brad & Angela, if you factor in all the stats, you may be right. But - happily for all of us - people are still buying homes because they feel confident enough that they will be ok.

Roy,  REO market sales are supporting a lot of markets. That's why smart agents who've wanted to prosper when things were down have developed expertise in handling foreclosures, short sales, REOS, etc to offer need service to customers.

Thanks for your comments.

May 31, 2009 12:22 AM
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Bob: I do see some consumer confidence returning, and there will be even mor light after all the REOs are sold!

May 31, 2009 01:02 AM
Bob Corcoran
Corcoran Consulting & Coaching - Swansea, IL

We need to keep watching for that light, and do all we can to make these saels happen. Thanks for your comment.

Jun 12, 2009 10:56 AM