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The Coulda, Woulda, Shoulda Market---Are you in one and what will you do?

Today, in Hilton Head, I attended an awesome symposioum that was sponsored by some of our top Realtors.
To say it had a positive effect on me would be an understatement. As the old adage goes, We are what We Think! Ain't that the truth now? Because I came away so inspired, I wanted to share some of the truths that came out of this event. Folks, if you're in a down or not so up market, below are some thoughts to ponder.

Here in Hilton Head, we are at the bottom of the market. We have no where to go but up. Do you have buyers who want to time the market and get in at the absolute bottom? You might want to ask them if they're expecting an EMAIL from GOD or if they might want to rely on our data and history to guide them to a wise purchase.

Tell your buyers to get on the merry-go-round and stay for the ride instead or playing musical chairs where the music stops and there's no where to sit. Those buyers who consistently stay in the market are the happiest and richest.

Donald Trump always says he makes more money in a down market than any other. Translate this for your buyers, educate them and make sure you know all of your market statistics. Check back 5 years instead of 1 year and you will find very rewarding statistics. Take for example, villas on Hilton Head---those prices have appreciated an average of 160% over 10 years. Not bad, is it.

We need to start an epidemic ourselves. Spread the GOOD NEWS--heaven knows, your newspapers AND local media won't

Be a MISSIONARY of your markets--Call people, educate them--sell the lifestyle not the investment. Sell the family experience first and everything else will follow. Help those buyers to create family memories.

Remind yourselves that the majority of wealth in our country has been born out of real estate and this will be lasting. On our beautiful island, they aren't growing land anymore. It's in very SHORT SUPPLY.

If you're selling in an area where baby boomers will want to retire, keep reminding yourself that 78 MILLION bodies are out there waiting to retire in paradise.

Focusing on the stock market for a moment, the REALLY SMART MONEY IS ALREADY STARTING TO DIVERSIFY OUT OF THE MARKET. Investors are far too enthusiastic about what's happening in the stock market--you probably can imagine what will follow in the near future, not that I'm any expert.

For myself, I'll keep reminding myself that Hilton Head enjoys over 2 million visitors each year. All I have to do is get to know those visitors and the rest will be golden. As Realtors, don't let your buyers belong to the I Coulda, I Shoulda, I Woulda, I Didn't Club.

Posted by Diane Bell, Hilton Head Real Estate, Bluffton on 05/14/2007 09:59 PM

Comments (34)

Hilton Head Real Estate Market in the Regional (Localism) Channel

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Originally posted at: Realtor Diane Bell's Hilton Head and Bluffton Real Estate Blog: The Coulda, Woulda, Shoulda Market---Are you in one and what will you do?

34 Comments on The Coulda, Woulda, Shoulda Market---Are you in one and what will you do?

MAY

2007

Diane - I think Hilton Head is an awesome place. You posted some really good comments, especially about spreading the good news. The news media will do anything but. Hope you have a great year and enjoy one of the nicest places off the coast of S.C.

Keith,

Thanks for the good wishes! You need to come and visit us in Hilton Head. It is definitely an awesome place to live. I am so thankful to be able to live here.

I talk about this stuff to buyers and sellers all the time. First time buyers especially will say something like "why would I buy a house now when values are still going down?".

I'll then do a comparison showing what they are spending on rent, how much houses have appreciated over a 5 year span for the last 20 years or so - and then I ask them if they think they could live in a house for 5 years?

Everyone walks around with talks about the bubble or about crashing real estate markets. As Realtors we need to tell them the truth about buying now and holding on.

Good job Vinny---sounds like you're on the right track in this market and doing your homework. Thanks for taking the time to read my post.

I love the points you made, Diane! Thanks for the post!!!!

Diane,

I love Hilton Head and think it is a beautiful place. What makes you think your market has bottomed? I would love to tell my clients that we have reached a bottom here in Michigan, but I don't know that to be the case.

Diane

I suggest looking at the long term. In California we refer often to a graph that shows that in any ten year period, values in real estate are always way up. Get some help from your affiliates and educate your buyers and sellers. True "experts" agree that you rarely can accurately "time the market". Meaning the true profits and "best deals" are made immediately before and after the bottom of a market.

I ask my clients if they could purchase the home at a price that they felt gave them some cushion if the market went down a little further, would they be okay with purchasing now? If you have a motivated client, and can demonstrate that you are looking out for them, they might be more inclined to accept some risk.

You might consider also educating the sellers and their agents by submitting offers outlining why your buyer opted to make an offer...when everyone else is sitting on the sidelines, waiting...my client is ready, willing, and able to buy now...they just don't want to owe more than the property is worth.

So show them the long term, cushion the short term effects, and work with buyers and sellers that are movtivated. "What would the downside be if we were actually at the bottom of the market, and in two months this home was worth 5% MORE?"

Good luck

Keith

Do you know where the term came from?

Hi Diane.

Great post! Yes, many times what you think about happens. It's often all about mindset!

I'm heading to Hilton Head Island (12-hr drive from Cincinnati) in a couple of weeks with my family for some R & R. We're staying in Palmetto Dunes. I have a brother, a builder rep with D.R. Horton Homes, who lives in Bluffton. We play some golf for bragging rights for the next year. I'm going for 3 years in row.

Bring out the sunny, 80 degree weather! I can' wait!

MAY

2007

good post...thanks

Cheers,
Uzi Husain
Arizona Realtor, serving Goodyear & The Phoenix metropolitan area

Diane:

THANK YOU.

We need to remind ourselves of these points every now and then.

One question - what is GOD's email address?

So far, I haven't found that email addy in my contact list but when it pops up, I'll be sure to let you all know. I know it's there--just have to put my fingers on it.

To all who posted such constructive comments---many thanks for reading my post. And I hope I see you in Hilton Head somday soon.

Well said Diane and I am happy for you that you were so inspired. It's great now and then to get a new perspective on things and get recharged. All I can say is "You go girl"! LOL

Diane, you are so right. We need to tell everyone "Now is the time to buy"

Diane, good post. You are absolutely right! At least in Arizona, our market is finally scraping the bottom. Sellers have become more realistic about their prices; however, there are still plenty of buyers "waiting." Waiting for what? I guess to get back to the 90's? That's not going to happen that's for sure.

Good post, we really do need to get out there and talk about what is happening and what could happen. The down market IS the best place to build wealth.

GREAT POST!!!

I went to a listing appointment last night, and he, of course, met with other agents. Six, in fact. Out of the six, four immediatly told him that it was an entire waste of time to list ANYTHING right now because the real estate market has crashed and they aren't making any money. (Really? News to me!) One showed up late to the meeting, did not provide him with a CMA, and gave him a price that was "much higher" than what I gave him, and the sixth one was me.

Why did he like me? Because I had hope. Sure, my numbers were lower (more realistic) but I was nothing but positive about my job, the marketn a,d selling his house.

Just goes to show you - you make the market in your area. :)

Joslyn,

Weren't you happy you were number 6 instead of number 1? Of course, with the right message, they might never have interviewed number 2. Thanks for your comments.

Thank you for sharing Diane. I usually remind my more layed back clients that they are not any better off than they were last month.

Diane,

I can understand the buyers out there being cautious. The media has been saturated with reports about the soft housing market and the troubles in the mortgage industry. This, of course, is hurting you and me in the business. We have an uphill battle to convince the customer that real estate still is as solid an investment as can be. The market will recover soon.

Great post. It's so true. The only way to know when you've hit the bottom is when you are going up!

It looks like it is a good time to buy. I think I will have to check out opportunities. It certainly is a beautiful part of the country. Hope things are on the upward trend soon.

Joan,

I never get bored with the sheer beauty of Hilton Head Island. Even though I've lived here for a number of years, each day I find something magnificient to marvel at. For instance, I drove into the Piggly Wiggly parking lot (yes, the Piggly Wiggly is a grocery store) and there were two exquisite blue herons at the front of the door. You can't get bored with that! Come down and visit!

I love this. I book-marked your post. I especially like #2. I can't wait to use these points you have listed on some reluctant buyers.

MAY

2007

You are absolutely right. Apparantly, he doesn't like my red white and blue company, but it was his last resort, because no one else was "motivated" to sell his property. Hopefully I showed him that even though he might have had a bad experience before, it wasn't going to happen with me!!! :)

Oh so true! It's consistency that pays off, not the hit or miss predicting of a market, whether it be real estate or stocks. Great post!

MAY

2007

Great post- I was on the Realtor.org site last night looking up statistics to justify selling right now, and they are better than expected. Thanks for raising the banner of awareness, all is not gloom and doom!

Alecia,

Here's hoping! Good luck on your sale too.

MAY

2007

Diane - it's all about being positive and reflecting that - we are always truthful and our advice is not to expect this market to work for short-term goals - but it can't get any better than buying when we're down, and for those that want to keep waiting.....it's their call.

Great Blog Diane! I heard about the symposium and all of the feedback was positive. We all need to feed off of one another's positivity. We can create a positive market by working together and by sending the same message. NOW is a great time to buy a property. I jumped in with both feet myself just recently because I believe in the market. Thanks again for the inspiration!

Sean,

Thanks for stopping by--here's to a super summer in Hilton Head!

MAY

2007

Diane--What an important reminder and wonderfully written way to say, "It's a GREAT time to buy a house!"! Thanks for posting!

Thanks Teri--Just think what a difference it might make if every Realtor association nationally would adopt a platform like this.

Diane--I guess we are lucky in Minnesota. Our association is putting forth an advertising campaign saying exactly that...It is a great time to buy a house. Of course how to get the buyers to believe this in the face of the negative media is another story. :)

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