How's the Market?

By
Managing Real Estate Broker with StoneWright Properties, LLC NCRE# 222153

In my emerging career as a real estate consultant I often get asked the following questions.  

1.  What is a real estate consultant?

2.  How is the real estate market?

First, let me say that the real estate market is flooded with foreclosures no matter where you live.   That is great news for investors, first time home buyers or any one who has cash to buy.  There are a lot of good deals which means this is a good time to make money in real estate....as a long time investor in real estate I have always said you make your money when you buy property not when you sell it!    You can find great deals on new homes...builders who need to move inventory.  You can find great REO or foreclosures that need little or no fix up.     Lastly, if you are a renovator then pick up some of those $20,000 or less properties and fix them up for rentals or to flip!

This is not so good news for the home owner who needs to sell in order to up size, down size, relocate or who just want to buy a different style of home.   Whether you try to sel your home yourself or work through a Realtor you will not receive the same offer as you would have if you had sold 3 years ago.    So what do you do?

As a real estate consultant here is where I help.    I work with consumers and investors who want to buy or sell properties.   I help sellers decide if this is the right time to sell or to sit tight for a few years.   If they have to sell due to relocation or other reasons then I help them determine how to best connect their home to a buyer.    If they have the luxury to wait....then we talk about what they may do to maintain their home or improve it until they can sell.   Many of my clients have decided to update kitchens, bathrooms, flooring, decks or make additions while they wait for the market to turn.   

Some times the right move is to hold and wait.    All investments in real estate....I believe this also includes your personal home are considered long-term investments.   So don't be in a rush.......like Kenny Rodgers' said with the Gambler Lyrics, "you have to know when to hold'em and when to fold'em"

I think it is time to buy'em,  hold'em and improve'em until the market turns a few years down the road.

WAIT!!  How can you suggest that seller's hold?   Are you kidding me..that is where we make $$ as real estate agents?   For many of you reading this your are right.....that is where we make money.    You have to ask yourself if you are investing in your business for the short-term or the long-term.   If you are a long-term minded agent then we have to think about what is in the best interest of our clients not our wallets.    Encourage a client to hold and improve today and they will call you when the market turns.     Encourage them to sell now when they will lose money then they will not call you the next time they have to sell.

Living the Good Life,

Comments (3)

Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

If I could not get a loan mod and did a short sale at the begining of this mess.  I could not get back in the market and pay less for the home at a great interest rate.  I would do that rather that hopw everything works later.

Jan 10, 2012 05:07 PM
David H. Stone
StoneWright Properties, LLC - Mill Spring, NC
Making Connections that Count

The beauty of acting as a consultant for your clients is that you can help them assess their individual situation and find what works best for them.   I have been able to help several clients in this economic climate to seek help from the NC Foreclosure Prevention fund so that they could stay in their home until they found new employment.    I can assure you that I have earned a client for life and when they look to sell or buy in the future...they are going to call me.  The key is to focus on what is right for the client rather than what is right for me as an agent right now.    I know many agents that will not sell foreclosures, will not work with clients if they don't think they will get a listing or sale this year....I just think that is the wrong approach if you are in the business for the long term.

Jan 11, 2012 12:54 AM
David H. Stone
StoneWright Properties, LLC - Mill Spring, NC
Making Connections that Count

The beauty of acting as a consultant for your clients is that you can help them assess their individual situation and find what works best for them.   I have been able to help several clients in this economic climate to seek help from the NC Foreclosure Prevention fund so that they could stay in their home until they found new employment.    I can assure you that I have earned a client for life and when they look to sell or buy in the future...they are going to call me.  The key is to focus on what is right for the client rather than what is right for me as an agent right now.    I know many agents that will not sell foreclosures, will not work with clients if they don't think they will get a listing or sale this year....I just think that is the wrong approach if you are in the business for the long term.

Jan 11, 2012 12:55 AM