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We Must, We Must, We Must Increase Our Bust & the Dollar, too!

By
Real Estate Agent with Aiken Properties

BarbellWe Must, We Must, We Must Increase Our Bust & the Dollar, too!

With the Economic turmoil being felt around the Globe, Realtors need to see the positives!  I am not walking around with blinkers on, nor do I profess to be a sage economist, but I do believe that if everyone involved in the real estate industry found one positive thing to say every morning, to everyone they meet, about the market, then we will be a loud voice pointing to the good and not being sucked into the bad.

Today, Go forth knowing that the dollar is strengthening against the Euro and the Canadian Dollar and that Gold is hitting record highs.  With some positive calisthenics, the dollar may continue to build its power back and that is good for the American economy!

Imagine a world without "For Sale or Lease" Signs, imagine newspapers without real estate sections.  Think of banks without mortgage departments, insurance companies without homeowners policies.  Can you see your sidewalks free from apartment & real estate guides, how about no Home Depot or Lowes.  Yes, these are all symbols of our indulgent economy, but they are also the bedrock of that economyReal Estate & Our Industry are not going anywhere, we just need to change the Public's Opinion.

  The National Media has been too long dwelling on the negative, why not embrace the power of the positive!  Let us all join in the chorus(anyone who's job or future depends on the industry); Let's all find the positive and SHOUT it from the streets, sidewalks, to passing cars:  We are America and we shall overcome this economy, too!  We are America and we are Golden!  We are Realtors and we shall lead America out of this economic turmoil.  We are sales people- Let's sell Americans on investing in America for the LONG TERM!

God Bless America.  Now, chest out with pride, arms raised in triumph and declare a positive- in your local market, within the stimulus plan, from the International Economy, find ONE and SHOUT!  We can be Millions of voices with one positive message; and that alone may change the Economic face of the World and it all starts with you, Now - Today!

Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

You are really an optimist. I am not sure about shouting, or, better say, the effects of it. I drive the streets where the signs for sale are often on every other house. I'd be glad to out-shout it.

Oct 06, 2008 04:50 PM
William Johnson
Retired - La Jolla, CA
Retired

I subscribe to your attitude about seeing the positive and the opportunities for the right people in the quagmire of our economic condition. But it is also important to fully understand what has taken place, why it happened and how best to counsel those most affected by it for a long term positive strategy. Then we are doing of best in the profession to the fullest extent possible.

Oct 06, 2008 04:54 PM
Jane Page Thompson
Aiken Properties - Aiken, SC

Jon,  You may pass signs everyday and feel overwhelmed by them, shout at the signs(with your windows up); but tell people about the positive in your local economy.  That is that over 60,000 people went to the Family Days Fair- a record number- this past weekend.  This proves that the Daytona Beach economy may be tight, but community events are at the heart of what will bring your market around. [I looked at the local paper online for the info.] 

Oct 06, 2008 05:10 PM
Richard Dolbeare
Inactive - Wailuku, HI
Living the Hawaii Lifestyle

This will pass, it always does.  Meanwhile there are some great buying opportunities for your clients.

Oct 06, 2008 05:43 PM
Jane Page Thompson
Aiken Properties - Aiken, SC

William, As Realtors, our Code of Ethics requires us to be patriotic, involved in policy and protective of our clients and the economy.  The Runaway real estate market of 2005 & 2006 had many culprits to blame.  House Flippers that were not approaching their investments with back-up cost of doing business loss plans, President Clinton's deregulation of mortgage backed securities and the rapid sale of those securities without limits, the predatory lending practices and biased appraisal industry and yes, some real estate agents profited from these and other risky actions; and those are only a few culprits.

You are right, we need to make changes, I like that Canada requires a solid 20-25% down or the buyer must buy insurance to secure the financial institution's investment- this is a bit like the FDIC, only reverse.  We need to hang the phone up on telemarketers trying to sell mortgages over the phone and people that got mortgages online are now thinking that if they had only gone to a bank, the ARM interest rate increase is double what the bank's fixed rate fees would have been-for example. 

We need to do so much to correct the current situation and prevent it from happening again, but while the American people perceive Realtors in the same light with the predatory lenders, we won't get very far.  If Realtors turn on the positives, unite and be the cause for action, not the excuse of reaction, we can be heard in the long run and call to make the changes required to protect this from ever happening again.  We as Realtors need to stop dwelling on the past and move forward. 

The San Diego market according to Zip Realty's online figures is showing an increase in units sold from last July to this July and NAR reported that the Condo market was holding in the wake of the current economic situation, this is good news since San Diego is a strong condo market - I hope that is the case and that you will find the right buyers, the right property without too much risk.  Thanks for the comments and thoughts- have a positive day!

Oct 06, 2008 05:47 PM
Jane Page Thompson
Aiken Properties - Aiken, SC

Richard, Thanks for commenting and for pointing out the buying options.  I mentioned the NAR position on the condo market that maybe a positive for you to use in your market!  The First Time Home Buyer's Incentive is also a good tool to use as a positive suggestion.  I know AAmericans were using their home equity like a savings account withdrawal instead of looking at their property as a commodity slated for long range return, and you are right that impulse too shall pass.

Oct 06, 2008 06:04 PM
Greg Gorman
John R Wood Properties - Naples, FL
Naples Florida Real Estate

Hi Jane. When tough times hit the planet, the dollar soars. NOW is a great time for that to happen...It's been an ugly year in the financial sectors. I've been waiting for the $$$ to return so I can go back to Europe!

Thanks for sharing and best wishes for a strong 4th quarter 08! Greetings from Paradise.

Realtor Greg Gorman & Team Paradise Logo

Oct 06, 2008 10:19 PM
Charlie Harden
Columbia, SC

Jane, you have my vote if you run for office here in the great state of South Carolina.  We do need to get back to basics, stop being over-indulgent as you say and accentuate the positive.

Oct 06, 2008 11:14 PM
Spencer Hill
Hill Asset Management - Kingstree, SC
#1 Financial Planner -- South Carolina

Jane, great post. If everyone will quit dwelling on the negatives we might just start this economy again. The 2nd qtr GDP growth was great at 2.8%. All of this negative vibe has stopped everything. A few well placed positives we all can shock it back into normal.

Thanks for the positives

Oct 07, 2008 03:34 AM
Jane Page Thompson
Aiken Properties - Aiken, SC

Greg, One day I will come check-out your paradise!  From my online research for Naples, I see that your September Closed figures are up from 2006 & 2007, by almost 100 units, this is a positive sign that things are slowly moving in the right direction.  Keep up the faith!

Oct 07, 2008 04:13 AM
Jane Page Thompson
Aiken Properties - Aiken, SC

Charlie, Thanks for the vote of confidence.  With an estimated 1,000,000 people expected to move into South Carolina in the next ten years, we have hope that some of the overabundance may find its way sold, especially in cities with Universities.  That does not mean that SC Counties need to approve more new construction, they need to look at absorption rates and approve need construction, not unnecessary units.

Oct 07, 2008 04:20 AM
Jane Page Thompson
Aiken Properties - Aiken, SC

Spencer, You see the light!  I had promised myself to look-up a positive for every person that commented on the post, but you gave me one: the GDP, thanks!!!  This week has been a bit crazy, maybe if you are heading our way mid-week next week, we can get together.  Thursday night is a great Arts fundraiser in Aiken, we taste wine and food and buy silent auction items.  Just incase you needed a reason to mingle, while in town.

Oct 07, 2008 04:27 AM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Jane, that's some positive thinking...let's see if we can get others to join the same wagon!

Oct 07, 2008 05:23 AM
Jane Page Thompson
Aiken Properties - Aiken, SC

Gena, I want to give each commenter something positive to say about their market and when I looked for Sacremento I found this: "Indeed, in September 2008 we sold 2084 units, up 60 units from August, and more than doubling last year's closing of only 803 units."  Go forth and put the positive first, face the negatives and find ways to change the negative to a positive. 

Oct 07, 2008 06:25 AM