Positive for 2008, "People are as happy as they make up their minds to be"

Liz Carter's Top Ten of reasons to be positive in 2008 about Real Estate

1. Less Competition, all those agents who got licensed when the market was easy are leaving in droves.  For the professional Realtors, this means more business for those of us who are business people and got into real estate as a "full time job", we will have a higher percentage of buyers and sellers.
2. Better Service for our clients, since the agents that are left will be the ones better trained, skilled and knowledgeable, and then obviously the consumer will be the ones that benefit the most.  I survived and thrived in Houston during the big crash of the late 80's and early 90's which put me far ahead of the pack during this most recent and far less dramatic price decline.  For the agents that have gone through this market, you will be better prepared to help people also, since you will have survived and thrived!
3. Less Stress, since we all have to deal with other agents in this business the ones still around in 2008 will be the cream of the crop and know what they are doing. No ego's allowed, let's all just work together to get the job done...help the seller sell their home, and help the buyer buy the home.  So dealing with co/op agents will make all of our lives easier.  A side note, don't forget to say thank you to the agent that brings you an offer on one of your listings.  It's a little thing I've done for years, when I get an offer and call the other agent back the first words out of my mouth are, "By the way thank you very much for your offer on my listing at_____".  Even if the offer is not realistic, this is the beginning of negotiating start it out on a good note.
4. More Buyers will be able to afford the American dream of home ownership. 2008 will represent the best window of opportunity that buyers will have to find excellent deals with excellent financing. With prices down in most areas of the US, more people will be able to buy rather than lease a home to live in.  One of the biggest joys of being a Realtor is to help someone buy their first home; it's exciting for me to see someone buy their fist home.  It is a milestone in most people's lives, especially when you help them make the right decisions about the right price they can comfortably afford, the right neighborhood for them to enjoy, and the smiles at closing.  I still remember the joy of course mixed with a little "Oh my God am I doing the right thing" when I bought my first home in 1978, and it's fun to help other people achieve that as well.
5. Less Foreclosures in the future with stricter lending, less use of adjustable rate mortgages that relayed on future appreciation of home values to cover the raise in monthly payments. Fewer people will find themselves in the position of higher mortgage payments they can no longer afford.  Also the fact that the home went down in value rather than up, so there was no equity and the only other recourse people had was to let the home go into foreclosure.
6. Better Lending practices, gone (hopefully) are the days if you could breathe you could get a home mortgage.  It has been a hard learning experience for lenders, buyers, builders and Realtors; however we all need to remember these days and not let history repeat its self.  Less mortgage fraud by unscrupulous people, who took advantage of uneducated sellers, buyers, and agents, since now we all are more aware of how the game works, will also hopefully not be as easy. 
7. Normalized markets after many areas of the country experienced record breaking unrealistic home prices appreciating they are now experiencing a more "normal" market.  Home prices are more in line with what someone could lease a home for rather than buy a home for, which is truly what controls home values.  When you can lease a home for much less than you could buy one for, why buy?  Now home prices are in line with what it would cost you to lease, plus you get a tax write off, and you own a home, so you are more in control of future inflation rates since your monthly housing payments are fixed, and leasing you are at the mercy of raising monthly rents.
8. More Knowledgeable agents, buyers, and sellers about what is involved in selling real estate.  When the going gets tough, the tough get going is an age old saying that is certainly true now.  There is so much more involved in buying and selling a home than simply finding a buyer...then the work really starts.  I have a sheet I give to my buyers and sellers entitled, "What can go wrong", it is not meant to scare them, but to make them aware of the multitude of things that can go wrong between the time of signing the earnest money contract and closing.  It's always better to be prepared for the worst, and have things go smoothly than the other way around.
9. Sellers Need Realtors more than ever before.  For sale by owners see the value of hiring a professional with the skills, knowledge, networking, and more money in their pockets by using an agent rather than trying to go it along.  NAR (National Association of Realtors) shows that a seller after paying commissions still nets considerably more money and with less stress than trying to save money by selling it on their own.
10. The Press works in our favor now, by the time you meet with a potential seller they have been reading everywhere on "how bad the market is", so it is less of a shock to them on what a realistic price is.  In fact they are sometimes pleasantly surprised that the bleak picture painted by TV, newspapers, the Internet, and other media, is not as bad as they thought.  Pricing is easier, and sellers are more informed of what value will cause their home to sell in today's market.

  So as we begin 2008 let's rejoice in the many positive things that are ahead for all of us.  My glass is half full, and will be brimming over with more business opportunities, better agents, more buyers and sellers, and a much better year than ever before.  Another great quote, "What the mind of man can conceive and believe it can achieve"!  My goal for 2008 is to achieve my best year ever in real estate having been in the business for 31 years, it will be my BEST YEAR EVER!  Wishing the same for all my fellow great Realtors that have survived and thrived during the past few years, this will be your best year ever. 

Liz Carter, owner/broker  Liz Carter & Team Realty, helping second generation of clients buy and sell Real Estate in the greater Houston, Katy and Sugar Land area, est. 1976                                                              

www.lizcarter.com  281-391-SOLD (7653)