When my good friend, John Cannata wrote about his post Stop Sign or Speed Bump - How do you see your real estate market? I really wanted to answer his question. He clearly gave me 2 choices: Stop Sign or Speed Bump. I had to pause to think which actually applies to my real estate market situation?
I know the market has not been good because I researched and created Homes Sales reports about them. On top of it, the media painted a not-so-rosy picture about the Foreclosures and Short Sales data that affected the markets.
As John has pointed out, here in North Texas, we've never rode the roller coaster of prices going up and coming down. As a whole, things are not like it was in 2006 when Frisco peaked at its highest. Some homeowners have a hard time finding values to refinance their homes. That's when we know it affected everyone - not just those who are currently buying or selling real estate.
As bad as I am slowly painting this picture, when John has asked if my real estate market has been a Stop Sign or a Speed Bump, I must say it's really NEITHER. For me, it was a straight road ahead, and I'm driving on it with full force.
Do not even ask me how many multiple offer situations I have been in this year (2009). By far, it's the most. I feel like 2009 has really helped me to not only become a great Realtor(R) for my clients, it has certainly taught me a thing or two about winning multiple offer situations. Some, we win, some we don't. I have just been very fortunate to work with clients who are pretty financially savvy like me. Many of them have 20% to put down and have very solid credit.
Now, this post is not a brag but to share how this year has been and how I look at my markets.
I must say that I attribute my success in 2009 to several things:
(1) God - who is my provider. The One who knows whom I'm called to serve. I view my success only coming from Him, even though I know He used my clients as vessels to bless me with. No matter how hard I work on my SEO and my website, if He hasn't blessed it, none of this wouldn't have been.
(2) I am a full-time real estate professional. I must include this because I've been a part-time agent before. I know the limitations I have as a part-time agent. Time is the biggest thing. With little time, I wasn't doing my research, previews and studies of the markets around me. With little time, when a great bargain came on the market, I wouldn't have known and that led to my clients who would have lost a chance at buying a great deal.
In my market, if a foreclosure was priced very attractively, by the 2nd day on the market, we would have had to fight through multiple offers.
I have no regrets starting part time. But what I would have done would be to whin myself off my corporate job much sooner. I might be in a much better shape today. Who knows?
(3) My clients have been cooperative. They hired me to do the job for them and I have their complete trust. When I say that that's all the market inventory we have, they believed me. When I say that's as high as the market would hold, they believed me. In a heated real estate negotiations when emotions are running high, they cooperate with me.
(4) I hired a coach that helped me create NEW stories about myself. Dropping the limiting beliefs about myself didn't come easy. But when I mentally didn't give myself a choice but to go full throttle, what a journey it has been. My coach taught me not only do I need to drop my limiting beliefs, I need to substitute them with new stories I will create for myself. Since I hired my coach in October, I closed my 2009 with another 25% of my income than I otherwise wouldn't have. Her name is Kathy Eppley.
When I first wrote this post, it was 12/22/2009 - 3 days before Christmas. It was my true intentions to keep my last 2 weeks in December a time of some quiet, peace and reflection for the year and finishing planning out my 2010. Today is 12/30. By the end of the week, I would have completed 2 full weeks of showings and visits with my clients - back to back and wrapping up a short sale approval. Wow, what a year 2009 will be.
So, they you go. When John asked if it was a Stop Sign or a Speed Bump, do you know why I only saw a Long Road ahead - so full of possibilities, so full of potential and it's ALL mine for the taking.
The ROAD ahead is CLEAR.
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Loreena Yeo
Frisco TX Realtor® / Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
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My Real Estate Year This Was ..... 2009
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