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Are we the Pulse of Real Estate ?

By
Real Estate Agent with The Somers Team at KW Philadelphia

The Pulse of the Real Estate Market

I have always been a little bit anti-media, and even more so during the last year with all the doom and gloom of the "national" real estate market never taking into account local markets.  A featured post "Can we gag the Media ?  Or Hang the DJ ? " expressed that point and was a post that struck a nerve with consumers as they participated greatly in the comments which is a little bit unusual.  One thing I have learned since that post is that in this new world, it is not really CNN, CNBC, Fox news or anyone else that is the media, but it is all of us who is the new media.... right here on Active Rain.  And who better to report on the updates of the real estate market than those of us that are on the front lines !

Pulse of the Real Estate Market

 

Which brings me to the main point of this post today !  Being that we are on the front lines I believe that we are the pulse of real estate.   We see trends and buyer activity in our local markets before anyone else.  Also, in Active Rain, we can get a snapshot of other people's markets, their successes and so forth.   Maybe it is me, but I have read numerous success stories just in the last week or so !  And this is during the "slowest time of the year" (according to the media) .  Below are just a couple of success stories in Active Rain (many of which were featured) I have read in the past week:

 

 

"A Buyer Fell out of the Active Rain Sky and Hit Me" by Chris Ann Cleland

"Listed Last Wednesday ! Under Contract Today !  Thank you Active Rain !" by Donna Bigda

"Countdown to the Holidays - New Listings and Buyers all Around" by Cindy Jones

"Another Active Rain Sale Closed ! " by Tina Shah

"Sell Real Estate Instead of Shopping on Black Friday ? "  by Chris and Stephanie Somers

There are countless more posts out there like this but the point is that things are changing.  Can you feel it ?  Is your heart rate picking up ?  Is your pulse starting to beat louder ?  Faster ?  As a buyer, are you starting to get excited about mortgage rates being at lows for the year ?  Or perhaps the $7,500 first time homebuyer credit ?  Have you read "5 Reasons for Buyers to Get off the Fence" ?  As agents, do you see this activity happening around you ?  How many buyers are you going to reach out to to communicate these benefits too ?  If you do not, someone else will.

Lastly, if consumer confidence has not picked up a little bit and things do not look brighter in the next year, how in the world could the Dow Jones Industrial average be up more than 250 points on friday in the face of dismal unemployment numbers that were extremely worse than expectations ?  You guessed it, because mortgage rates are at their lows which will stablize the housing market and pick up the economy through home sales and refinancing.  Not to mention that oil has plummeted to $40.00 a barrell.   We are probably looking at $1.50 gas pretty soon !!!

The holiday season is definitely now worth a cheer !  And I feel great being the pulse of the Philadelphia real estate market !  Are you on the pulse as well ?

Now on to more important things... my wedding anniversary weekend : )

____________________________________________________________________

The Somers - Protecting and Growing Your Wealth 

 

 

Philadelphia Real Estate - Chris and Stephanie Somers

The Philadelphia Real Estate Blog

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Jon Wnoroski
America's 1st Choice RH Realty Co., Inc. - Green, OH
Summit County Realtor

Whether we like what the media is saying or not (and in this market it is likely we don't) we need to keep in mind that what appears in print is what the consumer is reading.  Our focal point, therefore, ought to be in addressing each of the major issues and keeping our clients informed about how the market is affecting them and the decisions we need to make to counter the negative aspects reported in the media.

Example:  Home values have been reported to have decreased in recent times; do analysis for your clients related to values in their immediate neighborhood.  Help them price right to sell their home in this market.

Dec 06, 2008 12:45 AM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Hey, you guys!  Happy Anniversary!  And I must say that Active Rain has certainly helped me to stay focused and pretty positive most of the time!  And thanks for the great links!

Dec 06, 2008 01:03 AM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Hi Stephanie and Chris,

Yes Citizen Journalism is prevalent across the web.  Citizens are on the front lines and are reporting.  There is an uprising, ppl. want access to instantaneous information.

BUT above all, people want the real stories and information that informs and educates, not reports doom and gloom or overly ambitious.

This is where real estate professionals can make a HUGE IMPACT.  In giving information that empowers consumers.

Dec 06, 2008 04:14 AM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Some great comments here !  Will come back and answer them more in detail in the next day or so !  Am off to Baltimore for a little trip with Stephanie !

Dec 06, 2008 06:13 AM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

While it is true we need to be a positive voice and things have gotten a little bit better, most markets are not out of the woods by any stretch. What I really don't understand is why so many Realtors get so uptight about the media reporting facts? It does no one any good to paint a more rosier picture than what exists. We need to be truthful with our clients and not get so caught up with presenting halos over our head that we portray an inaccurate picture of the market.

Dec 06, 2008 06:17 AM
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

Many of my busiest months in my career have been December.  And I drive an expedition, so the gas going down is like an automatic raise for me!

Dec 06, 2008 12:25 PM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Rob - Happy holidays to you !  Sounds like a very strong market where you are with a lot of decent deals that people are competing over !

Pat - Correct !  Who better to report on the real estate market, especially a local real estate market than us ?  That is pretty much what we do on Active Rain.  Thus, looking at it that way, we are the media as we are on the front lines !

Jon - Absoloutely !  Obvioulsy most markets are still buyers markets !  Everything is local... Im not saying to talk up some sales pitch that does not make any sense.  Being honest and realistic is what is important and critical.  But we can offer more than someone hears on the news in our local markets.  People in Philly sometimes fear that Philadelphia might be as bad as some other markets which totally has not been the case.

Dec 06, 2008 11:51 PM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Patricia - You bet !  We are enjoying the anniversary !  Had a wonderful dinner in Little Italy last nght in Baltimore : )

Rebecca - So true !  I agree - even though we are on the front lines we have a responsibility (even more so) to practice accountability and be honest and forthright about the states of our local markets for sure.

Bill - I could not agree more.  This post by no way is making a recommenation to exaggerate the truth.  Obviously a lot of markets are in disarray and things will get worse before they get better in those markets.  What I was referring to more is our local markets and more so how the national media can skew a local market especially with quotes like "No one can get a mortgage" and so forth.  And on top of that, when reading a lot of Active Rain posts, my other message is that perhaps the tide is turning... or may have already turned in many local markets.  As always time, will tell : )

Dec 07, 2008 01:20 AM
Lauren Krady Lancaster
Keller Williams Realty - Lancaster, PA
PA Realtor

Happy Anniversary!  And yes those are a few things that should spur on some buyers.  And YAY to gas that is half the price it was a few months ago!

Dec 07, 2008 06:49 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Chris, So many consumers are finding and reading Activerain--AND the success stories.  I believe it is a force in Real Estate and can provide local market information which will make them want to work with you.

Dec 07, 2008 09:13 AM
Jamie Dumaine-Russell
RE/MAX Alliance - Branford, CT

Chris - I  have never been a fan of how the media has been portraying the overall picture of the real estate market.  While there are certainly many areas feeling the pain of the current economic and financial crisis, it is so important that we as Realtors are the pulse of the real estate market in our local areas.  Thank goodness for the wonderful stories that I've been reading too on Active Rain that keep me energized and for one of the busiest months I've had so far this year.  Thanks so much for the mention of my post.  Hope you and Stephanie had a wonderful time in Baltimore this weekend.  Happy Anniversary!!

Dec 07, 2008 12:58 PM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Steve - we are going to have a banner December - is interesting... but we were also super busy last December too !

Lauren - The gas prices are definitely going to be a stimulus to the economy - not sure why that it is not talked about more often !

Carole - It is great seeing and reading the success stories on Active Rain.  I know I may be of the minority but I believe that 2009 might be a turnaround year for the 2009 housing market.  I know that 2008 was a banner year for us !  Either way, more experienced agents have a great opportunity to capture more market share with a larger internet presence for sure... has already happened : )

Donna - Thanks !  You are an inspiration to us ! Keep up the great work and Im sure both of us can continue to share success stories with each other and the AR community !

Dec 07, 2008 01:32 PM
Elayna Fernandez
the Positive MOM - Fort Worth, TX
BE Positive and You'll BE Powerful!

Naples FL Marketing   Chris and Steph:  What a joy to have a positive attitude. When you see the cup half full, you hear others complain and you don't get it.  The media is certainly not optimistic.  Believe it or not, I make it a point to NEVER watch the news.  I don't recall EVER getting good news (if it sounded like good news it came wrapped on "possible, probable, maybe".   I'd rather listen to Chris and Steph and all these wonderful professionals who take pride and joy in celebrating small successes and get the big picture.

Thank you!

Elayna Fernandez - Real Estate Marketing Naples FL

Dec 07, 2008 09:47 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Great post. Happy Holidays. 2009 will be a great year in our area.

Dec 07, 2008 10:05 PM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Elayna - Great point.  I think we should all watch the "news" less and be more focused on the news in our areas from all of the local professionals in regards to various parts of each local economy or city !  I like the way you think !

Gita - I agree that 2009 will be a great year in our area !   Our area is really supported by healthcare, education and medicine all of which are quite resilient industries in today's economy.  As a result, the future looks bright for Philadelphia as well as the counties !

Dec 07, 2008 11:46 PM
Richard Stabile
Re/Max Real Estate Limited - Oradell, NJ
Bergen County New Homes Builder Realtor

Christopher and Stephanie:

I not only agree but it is the way it should be. Case in point on the bailout, as you know they gave money to the banks direct, and not the borrows. Our voice was heard and it is changing.

I had 7 appointments this week end. All with buyers for luxury new homes, either under construction or to build. The last time I was that busy was years ago. I was out till 9PM Sunday night.

Rates! Rates! Rates!

Richard

 

Dec 08, 2008 12:36 AM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Richard - rates ! rates ! rates !  It seems like things all around us are showing signs of life !!! Is impressive with all your showings as well : )  I think we are in store for a turnaround year in the housing market in 2009 !

Dec 08, 2008 01:22 PM
Anonymous
Jason - Consumer

I think it is a good practice to watch the news, be familiar with what's happening in the world, your region and yes, your community.  Closing your eyes and covering your ears to the many sad realities that exist in the country might make you feel upbeat and positive, but it doesn't keep you informed as a citizen.  And if you are an uninformed citizen you may be contributing less to your community, unaware of the deficiencies. CNN, CNBC, and FOX News provide the pulse of large regions, countries and the world.  It's information that is very important and should be heard by individuals who can then make their own determinations.  As you stated, it is not the local pulse of a community.  As you describe Chris, your community could be doing very well in regards to real estate activity, but another may not.  Hopefully, the consumer listens to both the world news and seeks local community news and is able to understand their differences and how they may impact each other.  The country is not in a positive state.  Millions of people are losing their jobs and many are losing their homes.  This is information we should all remain aware of, in order to be compassionate and contributing citizens.  However, a positive attitude is good, and it can help those that have fallen down.  Local markets will continue to vary throughout the country and it is our responsibility to know the difference that exists when comparing local news to world/regional news.  Continue to help your customers such as myself to know the difference.  Continue selling the positives in your neighborhood in order to be successful.  But, understand that it is not the same for everyone, everywhere, and that still remains relevant information.

Dec 09, 2008 06:07 AM
#20
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Jason - thanks for sharing !  I love it when our blogs generate interest to get responses and dialogue from consumers.  Thank you for your insight and support and yes, we understand that it is not the same for everyone coast to coast, but within each state, each city, each neighborhood there is a ton of super relevant information that can be communicated to from the folks who are "the pulse of the real estate market" .  That would be us : )

Elayna - Thank you for featuring our post in the group !  It is an honor !

Dec 12, 2008 11:32 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

First off Happy Anniversary! I really like your phrase: being the "Pulse of Real Estate". Thank you for the links you provided. I don't mind the facts being reported but it's the tone in which the current reporters report the news. We all know if we play negative "Tapes" over and over in our minds we soon live the negativism. There is always good that comes from adversity - change for one. A better way to do things. Why are we not hearing more constructive ways to solve the problems instead of "We are all doomed?" There are bright spots happening all over but we never hear about those exciting wins to give people hope and foster positive thinking and ingenuity!

Dec 17, 2008 11:45 PM