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Top Ten Things I Learned About Real Estate in 2008

By
Real Estate Agent with RE/MAX Realty Services

Top Ten Things I Learned about Real Estate in 2008

 10.  Not All Mortgage Companies now approve all Title

       insurance companies. ****

 9.   Just because your client is approved for their loan  

       today, doesn't mean they will be approved for

       the same loan next week.

 8.   Historically low rates can still get lower.

 7.   Not everything the media says is true.

 6.    Well qualified consumers know it is a good time to buy real estate. 

 5.    Listings are still selling if they are staged, priced correctly and listed with a  REALTOR ®    

 4.    This market can be a great time to learn and teach new skills that will make us  

        better  professionals.

 3.   The public really does read our blogs and gets to know us.

 2.    Not every person off the street has what it takes to be a REALTOR® or loan   

        officer.

 1.    No matter how bad our markets may have been, we all found time to give and give generously to

       those less fortunate.    

 ***UPDATED****

**** Since this seems to be causing some confusion, let me try to clarify what I mean by this.  What I mean by this is whatever title insurance policy your title company uses, The BINDER company, may not be approved by the lenders.  Your closing could be delayed as your settlement officer, lawyer, closing company has to switch binder companies.   CAPEESH???  Please check with your lender and Title company to clarify this in your area. *****

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Mark Watterson
Salt Lake City, UT
Utah Real Estate

"Just because your client is approved for their loan today, doesn't mean they will be approved for the same loan next week" 

This one has been one of my biggest challenges.  I only work with clients with fully underwritten loans with the home TBD.  That use to mean something and needs to again.  Great Post!

Dec 30, 2008 12:02 AM
Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
EXIT STRATEGIES REALTY - Edmond, OK

Great Post!!  I think your number reason could be the most important of all.  You will be truly blessed for giving to those less fortunate.  What a difference we would all make if we took the time to give.  Not just money but our time and energies too!!!   I too learned the lesson about title insurance this year.  Thanks for giving folks the heads up!!!  Wishing you the happiest of New Years form everyone in Edmond Oklahoma.

Dec 30, 2008 12:17 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Lots of good info...going to try this re-blog thingy on this one!

Dec 30, 2008 12:32 AM
James Wexler
wexzilla.com - Scottsdale, AZ

# 2 is very interesting as we say anyone who could pass a 3rd grade level test get their real estate license and go out and make a living

Dec 30, 2008 02:08 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

I liked the top ten list.  Number 10 is so true.  I find most Realtors are all very generous with their time and money to the less fortunate.    

Dec 30, 2008 02:09 AM
Meyer Leibovitch
RE/MAX Elite Services, Nurit Coombe Team - North Bethesda, MD
REALTOR Boyds, MD

AJ- Very well put. 2008 was definitely a year for learning. I am sure 2009 will be too. Happy New Year and your party was great as usual. I learned that audrey always has the best food! ;-)

Dec 30, 2008 02:21 AM
Anonymous
Anonymous

I like 1-5, and 7-10.

However, since all markets are different, point #6 is a meaningless claim.

Dec 30, 2008 02:42 AM
#81
Lisa Spalding
Casa Latino Four Corners, REALTOR, CDPE - Longwood, FL
REALTOR, CDPE

Loved your 2008 List.  :)

Dec 30, 2008 02:57 AM
Christina Moock
Cutler Real Estate - Canton, OH
REALTOR - Cutler Real Estate

One more.... just because you wrote a closing date on the contract doesn't mean you will close on that day.

Dec 30, 2008 03:06 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Audrey:  Congrats on the featured post!  This is a great list.  I learned that if an FHA appraiser writes something down that is a guesstimate on an appraisal, it can take two weeks to disprove their "talking out their ass."

Dec 30, 2008 03:56 AM
Myrick Tantiado
Alain Pinel Realtors - San Francisco, CA

Nice list!  Thanks for sharing and hope 2009 brings more growth and prosperity!

Dec 30, 2008 04:07 AM
Chuck Capan
REMAX River Cities - Moline, IL
REALTOR Licensed In IL. - Moline Homes Quad Citie

As to #7: Positive attracts more positive.  Negative attracts more negative.

For every minute you spend watching, listening or reading "the news" spend two minutes on active rain.

Kinda like taking a shower ;)

Dec 30, 2008 05:09 AM
Tim and Pam Cash
Crye-Leike (Sango) - Clarksville, TN
Real Estate Professionals - Clarksville TN

Outstanding list!  We must continue to drive forward.

Dec 30, 2008 11:11 AM
Esko Kiuru
Bethesda, MD

Audrey,

2008 has been a year to remember. True, the financial markets have been very volatile and mortgage approvals one day can be overturned the next.

Dec 30, 2008 03:02 PM
Roy Kelley
Retired - Gaithersburg, MD

Audrey,

Thanks for the post.  You are the best.

Happy New Year!

Roy

Dec 31, 2008 01:37 AM
Lanre-"THE REAL ESTATE FARMER" Folayan
Samson Properties - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Audrey does anything the media say about the Real Estate market is true?  I really like number 7 and 9. Congratulations to you on this featured post. Have a safe and prosperous 2009. Great post.

Dec 31, 2008 04:59 AM
Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC

Audrey,
Come on now.....you did not just learn #7 this year, did you?  I think you've known that for a long time.  :0)

Jan 01, 2009 05:55 AM
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor

Fantastic top ten!  Audrey here's hoping, wishing and dreaming the new year is everything you want it to be!  A lemon for you ...http://activerain.com/blogsview/861014/Sweet-Lemon-Aid-A-MeMe-turned-ThemThem  :-)

Jan 01, 2009 04:28 PM
Mike Klijanowicz
Cummings & Co. Realtors - Perry Hall, MD
Associate Broker @ Cummings & Co. Realtors

Wow, you sure had quite a following on this one!  And what you said is so true.  I especially liked the one about the historically low interest rates...

Jan 02, 2009 11:08 AM
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Audrey - What a year it has been to bend the learning curve:)  Concise and simplified list, yet so very important and true.

Jan 09, 2009 02:06 AM
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