Real Estate is Different on My Planet

By
Real Estate Agent with Edina Realty

I've worked so hard to surround myself with positive knowledge people, I've had my head in the sand. Seems there are a number of writers in the blogosphere that have an opinion about the real estate market, and are playing much better chicken littles than most of the media I've read.

  • For example, take Keith from Housing Panic.  I don't know much about Keith who owns this blog,  but in his profile he states he's in the Marketing industry.  Not an economist, Not in real estate.
  • And did you know, there's an entire blog devoted to David Lereah,  NAR's chief economist?
  • Wikipedia has an article  on the housing bubble
  • Even business week online has jumped on the bandwagon. 

After doing some reading this morning I've come to a conclusion. 

 I live on a different planet. On my planet I have had more transaction sides in the last month than I did the last three.  On my planet there is some flattening of prices, and clearly a slowdown on the horizon, but on my planet we expect that in the winter in Minnesota.  However, Realtors on my planet still work through the holiday months, because people still buy and sell through the holiday months. On my planet there is recognition that this is a tough market, sellers do have to sell at the bottom of their price range, but there is still a recognition that purchasing a house is a good investment; not entirely without risk, but a good investment. On one of the blogs (other planets) I visited this morning a commenter said "thank God I haven't purchased and continue to rent."  No one on that planet told him that if you don't have to sell, it's a great time to buy.   

Now I'm not an economist, and I don't have a crystal ball, but I can tell you no one will be able to predict what will happen with the market in Minnesota until about February because our market does flatten.  We are Minnesotans. We hibernate. Until then, I will close a record number of transactions between now and December for my business, and refrain from projecting any negativity. 

Comments (6)

Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

Lisa, I think you and I are on the same planet.  We have a lot of inventory here in Denver.  The good news is, that is what is driving the market.  My phone is ringing off the wall with investors looking to increase their portfolio.

 

Oct 30, 2006 01:00 AM
Jim Lee
RE/MAX Shoreline - Portsmouth, NH
Portsmouth NH Realtor, Portsmouth, NH

Bad news sells, "if it bleeds, it leads" is a print media mantra.

My 15 seconds of fame interview with a local TV station was interesting. They shot 15 minutes of footage and edited it down to 3 five second sound bites which fortunately did convey the message I was trying to get across.

You and I are on Planet Earth; the rest of the "doom & gloom" crowd are on a different planet.

Oct 30, 2006 01:36 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time
Lisa, I too am having a record 4th quarter. I guess to many Realtors are spending way to much time reading about how slow it is supposed to be. Personally I don't have time to read that stuff. To busy reviewing HUD statements!:)
Oct 30, 2006 02:10 AM
Kaye Thomas
Real Estate West - Manhattan Beach, CA
e-PRO, Manhattan Beach CA

I am constantly amazed by the vitrol expressed in the blogs and comments by their readers on real estate in general and agents in particular.  On my planet people buy homes to live in, do their gambling in Vegas and the speculating in the stock market. I find all the hype about prices returning to 2001 silly... afterall they didn't buy then either as they were waiting for prices to go back to 1995 levels....

 

Oct 30, 2006 05:52 AM
Lisa Dunn
Edina Realty - Minneapolis, MN
www.TwinCitySeller.com
Oh you guys, thank you for the comments.  You must be the positive knowledgeable people of which I speak!  It's affirming to know I'm not the only one experiencing this.  Thank you thank you!
Oct 30, 2006 11:47 AM
Lisa Dunn
Edina Realty - Minneapolis, MN
www.TwinCitySeller.com
Oh you guys, thank you for the comments.  You must be the positive knowledgeable people of which I speak!  It's affirming to know I'm not the only one experiencing this.  Thank you thank you!
Oct 30, 2006 11:47 AM