real estate market: You are Invited to the State of the Market
- 01/12/21 05:05 PM
You are Invited to the State of the Market
Today, I want to invite you to my State of the Market coming up at the end of January. It is so important—especially this year—to know what's been going on and what's happening right now in the market. There are changes coming in the new year. There are trends that started because of Covid. Bottom line: the market in 2021 is going to be very different.
You need to understand what the changes, challenges, and potential problems are. For example, how will forbearance paybacks affect your clients? What's going on … (1 comments)
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real estate market: Stay Focused on the Facts (Not Politics)
- 11/06/20 05:20 PM
Stay Focused on the Facts (Not Politics)
I have to weigh in on what's going on with the election. Probably by the time you read this, we will know who the President will be. But right now, I have clients that are panicking about how the election uncertainty is going to affect them. I want to remind them and you that life will go on and the market will go on.
No matter who the President is, you still have a responsibility to be calm with your clients and take care of their needs and concerns. I strongly encourage … (3 comments)
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real estate market: Busy Holiday Season on the Horizon
- 09/28/20 01:01 PM
Busy Holiday Season on the Horizon
I know we're only in September, and just coming into October, but I cannot tell you how many phone calls I've received asking if October, November, and December will be a good time to sell a house. During a normal year, we see a predictable decline in inventory and in active buyers. But this year, we've had to deal with Covid, which has been a huge game-changer. I think that this December is going be full of opportunities that we have not seen in 20 years!
Watch the video to hear my thoughts … (1 comments)
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real estate market: The Key to Winning a Seller's Confidence
- 11/30/18 03:39 PM
The Key to Winning a Seller's Confidence
When I was a new agent - and I mean a brand new agent in my very early 20s - I was called to go out on a listing presentation. I had not met the seller before nor been on his property. I got to the house and briefcase in hand, began walking up to the front door when my potential seller opened the door, looked me up and down, and asked, "Where is Denise?"
Since I had heard the "You're so young!" statement a number of times already, I knew what … (1 comments)
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real estate market: Pricing It Right
- 11/02/18 12:41 PM
Pricing It Right
One of the hardest parts of your job as a real estate agent is the ability to price a seller's home correctly. There are so many variables that go along with accurate pricing and if agents do not consider all of these, they may be costing their sellers thousands of dollars in lost potential sales revenue. More often however, because of the inability to price correctly agents walk away empty-handed without ever having the opportunity to sell the home because the price the agent came up with is not consistent with the seller's expectations. Agents can … (3 comments)
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real estate market: The Market Seems Slow, Should I Be Worried?
- 06/30/17 10:11 AM
The Market Seems Slow, Should I Be Worried?
I have had many inquiries lately about the state of the real estate market. Many agents have asked me if they should be concerned about their local market slowing down.
As we all know, real estate is a local cyclical business that has its ebbs and flows. We have been experiencing a very active market for the past number of years so any sign of a change in the pace of the market could turn on alarm bells for those agents who lived through the very difficult markets of 2007 through … (0 comments)
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real estate market: The Changing Face of Real Estate: Who's Buying, What Are They Buying?
- 06/02/17 12:11 PM
The Changing Face of Real Estate: Who's Buying, What Are They Buying?
The National Association of REALTORS® has been studying home buyers and sellers by generation since 2013. The Home Buyers and Sellers Generational Trends Report looks at both the differences and similarities of the generations. The report also looks at how the generations affect the real estate industry.
This report is very important because it details who is increasing in numbers in the market and who is decreasing. This is critical information for builders, developers, real estate agents and remodelers.
Some of the highlights include the following:
The … (4 comments)
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real estate market: What Makes A Strong Market?
- 10/30/15 04:45 AM
What Makes A Strong Market?
When it comes to HOT or STRONG real estate markets, a simple question often asked is "what makes a market strong?" The obvious answer being DEMAND, of course. While demand absolutely drives people to buy in certain areas there are reasons for that demand and you have to look beyond the current demand to be able to predict whether or not the market will maintain its strength.
There have been areas that have seen sudden meteoric rises in house prices but that rise has ultimately gone away when the initial reason for the housing … (0 comments)
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real estate market: Custom Homes on the Rise Could Spell Opportunity
- 02/20/15 05:06 AM
Custom Homes on the Rise Could Spell Opportunity
Custom homes have always been a part of any real estate market and will continue to be. The number of homes being built on an owner's land with either the home owner or builder acting as the general contractor jumped significantly in 2014. Is it that we are all watching too many home improvement shows and the mystery of building is being simplified or is it because the demand has risen so dramatically? I would say it could be a little bit of both.
The National Association of Home Builders (NAHB's) … (0 comments)
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real estate market: Generational Housing Needs and Their Effect on the Market
- 02/17/15 05:15 AM
Generational Housing Needs and Their Effect on the Market
There are four distinct generations that are changing the types of homes in demand today. They include these generations:
The Silent Generation: born 1925-1945
Baby Boomers: born 1946-1964
Generation X: born 1965-1980
Generation Y: born 1981-2000
Each of the generations have very specific housing needs which require updated floor plans. This is creating both challenges and opportunities in the real estate industry. These new demands for specific space include more storage and work space, outdoor living spaces, and guest or extended family guest quarters (next generation living space). The demand for remodeling has … (2 comments)
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real estate market: The Pulse of the Market
- 09/12/14 04:49 AM
How to Benefit from the Pulse of the Market
Agents have been contacting me these past few weeks asking me when the market was going to come back.
I didn't realize it had gone anywhere.
I wrote about the strength of our market a few weeks ago, but it seems that any time the market takes a pause or a breather, agents will become concerned. However, a healthy real estate market ebbs and flows with fast and furious moments and times that are slower. Many areas have been experiencing a slightly slower period during the last few weeks of … (0 comments)
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real estate market: WHAT IF? Essential Words to Use When Asking for a Price Reduction
- 09/20/13 08:37 AM
WHAT IF? Essential Words to Use When Asking for a Price Reduction
If a home you have listed has been on the market for longer than you know it should be, it is time to address that with the seller. First, honestly assess whether the home would have likely sold if it were priced lower. If the answer to that question is "yes," you have to work with the seller to get the home priced in line with the market. Every day that a home sits on the market without getting an offer could be a strong indicator that … (0 comments)
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real estate market: Keeping Morale Up in a Frenzied Multiple Offer Market
- 07/26/13 02:38 AM
Keeping Morale Up in a Frenzied Multiple Offer Market
There is no doubt that the market has picked up in many areas and is moving at a pace that is hard to control and even harder to keep up with in others. In the markets with reduced or limited inventory we are seeing multiple offers and with those come the reality that only one set of buyers will be able to buy the home. Losing a multiple offer leaves many buyers deflated, disappointed, frustrated, and overwhelmed by the fact that they are basically back at the beginning of their … (0 comments)
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real estate market: Baby Boomers & New Homes - Irresistible Attraction
- 03/22/13 08:42 AM
Baby Boomers & New Homes - Irresistible Attraction
Baby Boomers are individuals born between 1946 and 1964 - and they are a very important part of the new home industry due to their strong buying power. Not only have they worked for many years and have equity in their existing homes, but they also have inherited the largest passing down of wealth from their parents. Most of the Baby Boomers' parents were from either the Silent Generation or the GI Generation - both generations of savers. That strong saving ethic has translated into wealth being passed down to Baby … (3 comments)
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real estate market: What Low Inventory Means for Buyers and Sellers
- 03/08/13 01:25 AM
What Low Inventory Means for Buyers and Sellers
The real estate market is alive and well! The multiple offers we are seeing on so many listings is proof of that. With resurgence in our market comes a rapid decline in inventory. One of my clients recently reported that they had over 50 groups in their open house and that they expected over 10 offers on this property. I am hearing this kind of scenario all day long.
Multiple offers are now as common as foreclosures and short sales used to be.
So what does this mean for buyers and … (2 comments)
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real estate market: The Power of Research
- 02/22/13 05:18 AM
The Power of Research
When I was a new agent - and I mean a brand new agent in my very early 20s - I was called to go out on a listing presentation. I had not met the seller before nor been on his property. I got to the house and briefcase in hand, began walking up to the front door when my potential seller opened the door, looked me up and down, and asked, "Where is Denise?"
Since I had heard the "You're so young!" statement a number of times already, I knew what was going through … (5 comments)
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real estate market: Pricing With Confidence
- 02/01/13 05:28 AM
Pricing With Confidence
One of the hardest parts of your job as a real estate agent is the ability to price a seller's home correctly. There are so many variables that go along with accurate pricing and if agents do not consider all of these they may be costing their sellers thousands of dollars in lost potential sales revenue. More often however, because of the inability to price correctly agents walk away empty-handed without ever having the opportunity to sell the home because the price the agent came up with is not consistent with the seller's expectations. Agents can … (2 comments)
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real estate market: What Will 2013 Bring?
- 01/04/13 04:54 AM
What Will 2013 Bring?
2013 is only a few days old, yet it has ushered in a huge economic harbinger with the bill to circumvent the fiscal cliff, signed by the President just hours ago. While approval of these tax cuts for 98% of Americans coupled with curtailing automatic deep spending cuts (including cuts to unemployment) should avert another recession, this deal is not done. The deficit still exists and will actually grow with the approval of this bill. A new Congress is being sworn in today and there is no doubt that spending cuts and the debt ceiling … (3 comments)
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real estate market: Afraid of What Lies in the Dark Shadows?
- 05/25/12 07:13 AM
Afraid of What Lies in the Dark Shadows?
Specifically, that mysterious, much-talked-about "shadow inventory" - the boogeyman that every analyst out there is scaring the pants off consumers by talking about!
Large amounts of shadow inventory were created as a result of the mortgage meltdown which occurred in 2007 and 2008... and the collapse of the housing market which followed. Record number of homeowners defaulted on their mortgages, leaving lenders with unexpected real estate holdings.
There's actually not one generally agreed-upon definition of "shadow inventory." For purposes of this Zebra Report, I'm going to consider shadow inventory homes which are:
… (0 comments)
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real estate market: You Make the Market -- The Market Doesn't Make You!
- 07/16/10 05:42 AM
When I managed a large real estate office, I learned a powerful lesson. Sitting at my desk one day, it suddenly hit me. It was a revelation.
The revelation was this: I make my own market. No matter how dire the news. No matter how “downward trending” the statistics may be. No matter what anyone else says. My market is the one I create for myself.
Most of the other agents in my office did just what all agents seem to do. They sold based on the seasons. When the “busy” season rolled around, they were selling at fever pitch. But … (2 comments)
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