We all could use a lesson in planning.

By
Real Estate Broker/Owner with Crossroads Real Estate LLC

So what happens now that the tax credit is gone?  In the Milwaukee area I have not seen a lot of action beyond first time home buying.  The majority of sales seem to be in the under 100K price range, the bargain hunters.

What about those who didn't get the accepted offer by April 30th and lost out on the tax credit?  I would venture to guess, many sellers are looking at the same situation from quite a different perspective.  Sellers know, buyers are still searching the waters looking to make a killing in the market.  We are entering into the listing season.  If listings increase enough to replenish inventory sold over the past month, the law of economics tells us we are looking at future price declines. 

Now that we are facing the end of the tax crush, we can all take a sigh of relief. Real Estate Agents now know what an accountant feels like in the first two weeks of April.  Looking back I feel this may have all been planned as an inside joke by our elected officials.  They have managed to keep a large number of us busy for a month.  Now can they make plans for the rest of the country for the rest of the year? 

If you are like me, you are taking a moment to look back and assess the whole situation, asking yourself, did I spend my time wisely?  The lesson I learned is, there has to be a better way of prioritizing.  The market has shown, there is more than enough business to go around.  It appears we have, or will have a shortage of full time agents in the Milwaukee area.  I feel I could have made an additional sale or two in the past few weeks if I have used my time more wisely.  The question remains, how do I keep from repeating the mistakes of the past two weeks?

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Rainer
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Katherine Fillman
Coldwell Banker Schmitt - Cudjoe Key, FL

Dennis:

When the crash hit I was the "Waterfront Specialist" in my community.  I made hundreds of thousands of dollars listing and selling mid-high end homes.  NEVER AGAIN will I make that mistake of putting all of my eggs in one basket.

It took me several years to re-tool. Last year I sold 18 homes, only one was in the price range that I used to sell.

The key is diversify your target market.  Try to get listings in high end and low end communities.  That way, if the market changes, you are covered on both ends.

Good luck.

Apr 28, 2010 02:11 AM #1
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Dennis Herman

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