The Market Crash Revisited.

By
Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

So this morning I was reading through some of my older articles and found the one below from October 2007. At that time we were heading into the worst of the real estate market crash. Many agents were struggling so I used this article to dish out some perspective.

You can read the original comments here.

To give you a real picture of how fast the market changed here are my personal sales figures for this period. 

2005  50 Sales   Average price of  $160,000

2006  26 Sales   Average Price of  $229,500 (slowing sales but prices still jumped)

2007  22 Sales   Average Price of  $119,500 (almost a 50% decline in value)

2008  19 Sales   Average Price of  $119,500 (this was the year of the mortgage crisis)

2009  36 Sales   Average Price of  $ 93,500 (transitioned to short sales)

2010  54 Sales   Average Price of  $ 93,500 (market recovery begins)

2011  53 Sales   Average Price of  $ 95,000

2012  60 Sales   Average Price of  $ 98,600

The following was first posted in October 2007.

I woke up this morning and was feeling a little strange. So I pulled my aching body out of bed and went into the bathroom. When I looked in the mirror this is what I saw staring back at me!!

The dark side of Broker Brynat!

Yikes! I thought Blogging Bertha was a figment of my imagination and now I realize she's actually a part of me. A very scary part I must say.

Maybe my stressful market has finally taken it's toll on me and my inner demons are coming out. I hate it when that happens. Especially when I find out my inner demon is Bertha!!!

Woe is me, woe is me. OK so maybe things aren't that bad. I'm writing this post today for no other reason than hopefully to help a few people make it through a difficult time. If your business is anything like mine is, right now, then you are probably under a lot of stress and wondering where you next pay check is coming from. Folks, I truly wish I had a magic wand I could wave to make things better for you but I don't.

During difficult times, like these, I like to reflect back on my life and relate it to how much better things are now. I remember when I used to drive a taxi cab out at Disney, working 14 to 16 hours a day, and some days I would actually owe the company money before I could take my cab out the next day. That's right....I would OWE money. You see in the taxi business you rent your cab by the day, you also have to pay mileage and gas. Back when I used to drive I needed to bring in about $150 a day before I started making money for myself. If you brought in less than $150 you had to pay the difference before you could go back out. Talk about depressing!!!

I was also a waiter for about 10 years. Talk about hard and stressful work! The place I worked was a high end, high volume Spanish restaurant and it was real hard work. It was pretty good money though. I used to work a split shift that started at 10 am with about a 2 hour break between shifts, from 2pm to 4 pm, then back at it until about midnight. I was the top waiter and was always the first one in and the last one to leave. I'd make about $200 a day. That was pretty good money during the 80s. It was probably the hardest job I have ever had. I loved it though. Servers love me now because I'm a HUGE tipper. I can relate to how hard their jobs are.

 

So folks, no matter how difficult things are right now take a few minutes and reflect on some of the other stages in your life. There have been many times where I really had no clue how I was going to feed my children that day. But you know what? I always did. It just seems like as long as I kept moving forward and did my best, things would find a way of working out. They always have and they always will.

The key, of course, is to keep moving forward. No matter how hard it gets don't let life get you down. I'm assuming you still have a roof over your head and friends and family that love you. We are so fortunate in this country. Our worst, would be the best, for a lot of folks on this planet. Don't believe me? Read this.

So that's it, Broker Bryant's pointless post for today. Stay strong my friends. This too shall pass.

Oops! I almost forgot to make you smile. Here's a picture of one of our five six grandkids getting ready to dispose of one of Grampy's "lowball" offers. Are you smiling yet?

 

****All photos are the property of TLW. So hands off!!!

 

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***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

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 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Comments (11)

Larry O'Sullivan
Sandy, UT

Bryant - Good humor always helps. Reminds me of "Cheer up things could be worse ~ so I cheered up and things got worse..." I've been through enough ups and downs to know that "keep moving" is a powerful anti-depresant. Makes memories of pumping septic tanks positively golden.

Sep 28, 2013 10:54 PM
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Priceless!

Thanks for the revisit, as I certainly missed it the first time around! 

I'm having my best year ever, but I feel like a squirrel that hides nuts for the winter. I'm still afraid to spend a dime for fear of the next year. 

But it's nice to see money in the bank and be able to pay the bills. 

Sep 28, 2013 10:55 PM
Kim Peasley-Parker
AgentOwned Realty, Heritage Group, Inc. - Sumter, SC

Great posts and great reminders.  My husband's 18-year-old nephew was complaining about he had the worst job ever as a dishwasher at a restaurant.  My husband has been telling him and reminding him that we all have to work our way up.  Still he continued with the attitude.  I finally said have you had to clean the bathroom?  Until you have had to clean the bathrooms after a football Saturday in a college town, I have you beat!  And yes, I did that while earning my college degree.  

Sep 28, 2013 10:56 PM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Great post and a good start for the fall market

Sep 28, 2013 11:02 PM
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Good morning BB. I remember that you were the first one I ran into on ActiveRain that made me feel like things could work, that I was not alone but if I changed the way I was doing things it would be ok. My latest challenge is that Connecticut is seeing an increase in short sales (yes, thanks to you I was more prepared than many of the others around me). Buyers are not making offers on them and I can't say that I blame them.  But this is just another of the many challenges over the past few years that I will somehow live through!

I often think of Blogging Bertha, wish she would make another video by the way.

 

Sep 28, 2013 11:41 PM
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Good reminiscing.  Those memories help put life in perspective.  I unloaded trucks and stocked shelves for a grocery store for 5 years back in the day.  Makes you appreciate being on the computer and visiting properties. Glad the market has turned around for the better.

Sep 28, 2013 11:47 PM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Thanks guys. I have been missing in action around AR. I guess after almost 8 years I've finally hit a wall with my blogging.

1,200+ articles about real estate blew my brain out!!!

I'm now shifting my business towards new construction and 55+ active adult communities. New blog fodder!!

I hope to be blogging more regularly now.

Sep 28, 2013 11:55 PM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Hi BB, Don't worry, I wont steal Billie's pictures, no matter how cute they are.

I remember you complaining about how slow things were in Poinciana.

Are they any better now?

I drove a cab also. People  don't realize that you can work your *** off and still lose money.

I look forward to reading your blogs about retirement communities in FLA.

Bill Roberts

Sep 29, 2013 03:43 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Hi Bill. When the market changed I expanded my territory. Prices in Poinciana were down to the 60s and were just too low to make living. I still work Poinciana but expanded out about 150 miles in all directions to get my price per unit up.

Now that things are better I'm reigning my buisness back in. Selling in SoliVita where I live is the new plan.

Sep 29, 2013 03:54 AM
Lana Robbins Realtor ® Licensed Real Estate Broker
Aloha Kai Real Estate - Clearwater, FL
Licensed in Florida, Washington, and Hawai'i

Hi Bryant. Great perspective of the bigger picture. It's been a bit rough in Tampa Bay but we are still here in the game. It is challenging however to alter our mind set but so far so good.

Sep 29, 2013 07:15 AM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Bryant,

To understand what happen you have to understand "sympathetic pain." Only Jim Jones compares to Harry Reed and the housing crisis!

Bill

Sep 29, 2013 11:10 PM