Admin

People keep asking me, "So, How's Business?".

By
Real Estate Agent with Realty Executives Associates

And they don't ask like they are expecting a positive answer.  Almost like I may have possibly lost a puppy kind of look.  You know what I'm talking about.

The truth is... It's slow.  Well slower than when we were putting homes on the market and having them sold by the end of the day with the buyer offering to pay $50,000 over list price and agreeing to pay the cash difference between sales price and appraisal price. Whew, just typing that gave me flashbacks.

My answer is to those who ask me "So, How's Business?"  I say.... Business is good.  The market is good. 

Most houses are on the market for a longer period of time.  Having homes on the market for three to nine months isn't a bad thing.  As a matter of fact, I would call our market at this time a normal market. 

Sellers, depending on the area, are getting within approximately 3%-6% of their asking price.  That's not so bad.  Buyers are able to negotiate now.  Their interest rate is below 6.5%.  That's not so bad, not bad at all. 

So what.  The Sub-prime market is having major issues.  Good!  Buyers who should have loans will get them.  We will no longer be showing homes to people who may just qualify with some loan that may just exist.

 ...and remember to tell your sellers, just like a sweater at the store.  At retail price, I may glance at it and say "That's pretty!" and barely give it a second thought.  At a reduced price, I will touch it, try it on, won't even be able to sleep on it... I will buy it!   

  SEE THE INFORMATION CENTER FOR OAK RIDGE TENNESSEE REAL ESTATE MARKET

 

 

Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
People ask me all of the time too, how business is.  I always tell them the market is always good.  
Nov 29, 2007 10:59 AM
Marey Hoeppner
Kalamazoo, MI
Your Success Is Our Goal!
Very true posting, Anona. No matter how slow the market may be, you have to stay positive, keep a good attitude and keep moving forward. I always tell everyone business is going great, because to me it is!
Nov 29, 2007 11:55 AM
Mary Ann Salvatore
Coldwell Banker - East Lyme, CT
GRI SRES
Sounds like you have the glass is half full attitude and not the glass is half empty.   Good for you!   The sweater comparison is perfect.    I hope you don't mind if I use it on my clients.  
Nov 29, 2007 12:22 PM
Eleanor Thorne
Equity Resources - Cary, NC
Advantage Lending 919-649-5058
Business is NORMAL - what we saw for the last couple of years was not.  This is great because it's like it is SUPPOSE to be!  Great post!
Nov 29, 2007 12:24 PM
Rodney Barnes
Essential Properties Inc - Goodyear, AZ
Real Estate
My reply is Business is great, we're in a great market with interest rates still under 7% and the county is still averaging between 4k-6k solds per month. So are you buying or selling? Good Post!
Nov 29, 2007 04:08 PM
Anonymous
Anona Large
Stella,  I like that.  Market is good.  Great seems like fluff.  Good is perfect.  Expectations are more realistic.
Nov 29, 2007 09:17 PM
#6
Anonymous
Anonymous
Marey--- Yours is doing great?  Good for you.  I did real estate in Vegas for just over 8 years and have been rebuilding my business in TN for about 5 months now.  Even with the challenges of rebuilding, I can still say business is good.
Nov 29, 2007 09:19 PM
#7
Anonymous
Anona Large

Mary,

Just writing that made me want to his the stores and see what is on sale.  If it is priced good, I don't even have to like it that much.  lol.

Nov 29, 2007 09:25 PM
#8
Anonymous
Anona Large

Eleanor,

Your speaking my tune!  A normal market is a good market.... of course, you need to be a good agent to make it in a normal market.

Nov 29, 2007 09:26 PM
#9
Anonymous
Anonymous

Rodney,

Interest rates are great for buyers.  So much negativity on the media, you would think no one can qualify for a loan.  Truth be told, with rates as low as they are, if you paid your bills, you will qualify.

Nov 29, 2007 09:28 PM
#10
Scott Wall
StoneHouse Realty, Inc - Bristow, VA
The market is good. With the right pricing, right Realtor, and right showing, ANY house will sell.  Well at least that's my line :-)
Dec 03, 2007 02:02 PM