From the desk of Dick Leike, President, Crye-Leike
2007 is a very interesting year in real estate. To listen to the press and newscasters you would believe the housing industry is on its knees. The negative press alone can take its toll on consumers.
In looking at the facts, here at Crye-Leike, we are certainly having a very good year. Yes, last year was a blockbuster, but most of the same dynamics are in place this year. Employment is good, mortgage loan rates are near the lowest in 40+ years, and the amount of homes on the market allow for choice.
A home is not discretionary. We all have to have a place to call home and lay our head down. Needs are constantly changing. We actually help fulfill the lifestyles of Americans today. A house is sold because it no longer meets a need. A home is bought because it provides the style of living the buyer is searching for. These same needs are present no matter what the press has to say about housing.
It all boils down to whether we wish to follow others who expound bad times, or do we realize that we are in the best country in the world and during the best of times. "Only in America," as they say. It is beyond doubt that the dream of homeownership is alive and well here in our neighborhoods. Atlanta, Chattanooga, Nashville, Memphis, Jackson, Little Rock and from Northwest Arkansas to Northeast Tennessee to the Gulf Coast, we are all in a great position to take advantage of the value our real estate offers the consumer.
Let's thank the Lord we are in such a great section of our country. No, it may not be an order taker's market. Truthfully, that does not take much skill. On the contrary, we associates know the value of time well spent in cultivating customers, converting them to clients, and continuing to help them through life when it comes to meeting their real estate needs.
It's a natural tendency to try and place real estate in one category. Just thinking that because there is an oversupply in one area that the same is true all over. Or because prices fell in an area, that prices are falling all over. Real estate does not fall into a neat little package. We all know the old adage is still true today: location, location, location. Not just in a certain city or town, but by a much smaller area. In the same town there can be undersupply and oversupply, prices rising and falling.
There are sales today reaching new highs when figured on cost per square foot. We are the professionals. We make it our job to understand the difference and help our clients through one of the biggest financial decisions of their life.
Keep sharp, pay attention to the customer's wants, and stay away from the naysayers. You are part of the greatest team in real estate sales, leasing, insuring, managing, financing, closing, and so much more. That's what it takes, and you have it!
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