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I just finished reading Matt Heaton's post with his predictions for 2009.  When I finished it, I was thinking, "Well crap!"  Here we go again, but it could be even worse - so bad that even Barak Obama won't be able to fix it! 

But wait! 

This doesn't mean that it has to be a bad year for me, or for that matter, for any of us.  We just have to look at the challenges of this market and figure out how to make it work.

For me, the white hot market we had here between about 1998 and 2006 made me want to move to Houston where things seemed more normal.  Here, each listing was posted on Thursday with offers presented the following Wednesday night.  And unless a house was hideous and reeked of kitty litter, it would have between 30 and 50 offers.  If your buyers lost the bidding war, which they usually did, they were bummed.  If they were the lucky winners, they'd wake up a few days later is a terrible panic because they'd paid too much - and because they had to give up every contingency, they'd have to buy the place or forfeit a huge earnest money deposit.  I like working with buyers, and for me, this market sucked.

In 2009, I'm not going to make any judgments about the market.  Instead, I'm going to figure out how to work it for all it's worth.  That will mean listing carefully and getting the buyer broker thing down to a science. Who knows?  It could even get fun, and whatever happens, I'm sure there will be lots of fabulous blog fodder!

 

 
Post is included in group: Realtors®

20 Comments on How Will You Meet The Challenges of 2009?

JAN
03
2009
649,844 Points 1 Featured Post Localism Sponsor Outside Blog

All the good predictions...all the bad predictions are just predictions.

Put a helmut on, get out there and fight on!

12:21am • #1
1,257,006 Points 242 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Patricia- Whatever you focus on expands so focus on making money, happy clients and lots of business. As agents and brokers all around us are shutting down their offices we are expanding our team. IT is all a matter of attitude and perception. Turn off the news, don't listen to naysayers and dreamstealers. This year is an awesome year!

12:27am • #2
1,064,930 Points 156 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Buckle up. The roller coaster is still ROARING toward the bottom for the short term is what I see. Maybe at the inaugaration is when the ride goes the other way. In any event, isn't this thrilling??

12:28am • #3
6 Featured Posts

Hi Patricia. Now thats the spirit. I am ALL about making 2009 my best year....and it will be. :)

12:50am • #4
240,793 Points 29 Featured Posts Localism Sponsor Outside Blog

Pat, this is an interesting roller coaster ride for certain, but whatever happens, we'll just adapt and keep pushing forward.  Heck, not that long ago I had never done a short sale... now, it's commonplace.  We're going to see it get worse before it gets better, but that doesn't mean we can't thrive.

2:03am • #5
2 Featured Posts Localism Sponsor

Everyone controls their own fate in my opinion...especially in this business.

To search all the current home listings in Charleston, SC, please visit http://www.CharlestonPierPartners.com

Randall Sandin, 843-209-9667, rsandin@carolinaone.com

 

5:48am • #6
552,681 Points 78 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp

Pat, life and business is what you make it.  Avoid the naysayers. Turn off the t.v. and the news.  Heck, I replaced my television with a 65 gallon fish tank... Seriously.

6:30am • #7
595,159 Points 18 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Pat,

I am thinking that this year will be what we make it or not make it.  I hope that you have a GREAT 2009.

7:11am • #8
126,176 Points

Good post. I will hit my challenges head on. Was waching the last Rocky movie for the first time last night and was drawn to a line near the end of the movie.

Rocky says to himself. "It is not about how hard you can hit but how hard you can take a hit" Good quote for 2009

Tony

7:12am • #9
548,242 Points 1 Featured Post Localism Sponsor Outside Blog Attended Rain Camp

What others say and what others do very seldom affect what I do. Let the nay sayers talk and others can go into a funk 2009 will be a good year for me.

9:46am • #10
1,141,840 Points 76 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Pat:  The 2008 market is not going to get any better in 2009 just because we all got new calendars.  Real people are having real problems.  But you had a great year last year....so one up yourself this year!  I plan to! 

10:04am • #11
139,502 Points

I'm sure most of the real estate community is glad 2008 in gone. It's a new year and we need to start with a positive attitude. As the old sayjng goes " When life gives you a lemon, make lemonade."  This means getting back to the basics we learned (and probably forgot to do when the market got hot) when we first got in the business. Houses will be bought and sold this year. The important question is "Are you going to participate in the process?"

11:00am • #12
588,559 Points 80 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Patricia - great post and great attitude !  You are right - I think there is tremendous opportunity in all of our local markets to build market share during this tough time.  Frankly, I think 2009 is going to be better anyway than most people think.  Also, I feel guilty sometimes, but we had a great year in 2008 production-wise and gaining market-share.

3:22pm • #13
708,952 Points 63 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Pat... never let the market determine your success in it.  The best agents adapt to shifting markets and figure out how to leverage their skills and efforts to make the most of them.  I know that you are one of the best, so I am betting on you for another outstanding year!

8:17pm • #14
123,278 Points 1 Featured Post

Hey Patricia~

I literally quit watching the news and listening to those who only spew doom and gloom on the housing market. YOU must put into it what you want to get out of it. You can have a tremendous year or a not so tremendous year. IT IS YOUR CHOICE!

Here's seeing you at the top!

8:22pm • #15
JAN
05
2009
781,852 Points 21 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Adapt adapt adapt- I plan too as well. All those buyers that have sat on the fence- time to finally wake them up. I have a bunch in my database.

7:15am • #16
883,649 Points 34 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Pat - 2009 is without a doubt going to be the best year yet for me in real estate and personally as well!!!! I am enjoying each new day!!!

10:27am • #17
237,795 Points 6 Featured Posts Outside Blog

Pat, Jim Cramer (not my favorite) who has been down on RE just said in the second half of 2009 is going to be the year of RE~ God are you listening???

10:34pm • #18
JAN
06
2009
168,217 Points 2 Featured Posts

I think I am going to stop listening to what everyone else says and just get out there and work hard.  There is plenty of business for me, if I go out and get it.

12:01am • #19
JAN
08
2009
404,039 Points 2 Featured Posts Called Shot Master

There is no time like the present.  And, that which does not kill us, makes us stronger.  Focus on the relationships. the fact that you love what you do, answer every call, even "RESTRICTED" and "UNKNOWN NUMBER" with a smile in your voice.  Stay active, and be positive that you are the best person for the job.  GO GET'EM, TIGER!!!!!

6:37am • #20

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Patricia Kennedy

Washington, DC

More about me…

Evers & Company Realtors

Address: 4400 Jenifer Street NW, Washington, DC , 20015

Office Phone: (202) 364-1700

Cell Phone: (202) 549-5167

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Pat Kennedy -- author of The Irreverent Guide to Real Estate -- gives you a look at life on the streets as a real estate broker in our nation's capital. And her blog is peppered with great advice combined with humor!


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