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5 bright spots in real estate recession
Mood of the Market
By Tara-Nicholle Nelson
Inman News™
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The real estate market meltdown was much more severe and has lasted much longer than even the most bearish housing market observer would ever have predicted. Rather than values taking a dip, they've taken a double dip in many places; and the housing sector drama has infected the job market and the entire world's economy.
Yet, there are some very shiny silver linings to this whole mess -- a handful of ways in which our mindsets, habits, behaviors and approaches to money, mortgage and even life decision-making -- have been changed by this real estate market debacle. As I see it, here are the five best things about this otherwise terrible housing recession:
People now buy for the long term. Even Jeff Lewis, that reality TV house flipper extraordinaire, has declared that he's tapped out of the flipping business for the foreseeable future, trading in his real estate wheeling and dealing for the design business.
Recently, he mentioned having lost six homes in the real estate market crash. While Lewis flipped homes as his business, just five years ago, many Americans -- homeowners and investors alike -- took a short-term view on their homes, buying them with the idea that they could count on refinancing, pulling cash out or even reselling them anytime they wanted, at a profit.
Reality check -- those days are gone. Now, buyers know they'd better be prepared to stay put for somewhere between seven and 10 years (shorter in strong local markets, longer in foreclosure hot spots) before they buy if they want to break even. And this is causing them to take mortgages they can afford over time, and make smarter, longer-term choices about the homes they buy.
Dysfunctional properties are being weeded out and creatively reused. Municipalities like Detroit and Cleveland are demolishing blighted and decrepit properties in dead neighborhoods en masse, intentionally shrinking their cities to match their shrinking populations. These efforts are also eliminating breeding grounds for crime, and focusing resources on the neighborhoods that have a better chance of surviving and thriving in the long term.
In the so-called "slumburbias" of central California, Nevada and Arizona, McMansions are being repurposed into affordable housing for groups of seniors, artist communities and group homes.
American housing stock is getting an energy-efficient upgrade. The news would have you believe that every American has lost his or her home, walked away from it, or is now renting by choice. In fact, the vast majority of homeowners have simply decided to stay put.
Instead of selling and moving on up, homeowners are improving the homes they now plan to stay in for a long(er) haul. And this generation of remodeling is focused less on granite and stainless steel, and more on lowering the costs of "operating" the home and taking advantage of tax credits for installing energy-efficient doors, windows, water heaters and more. And while the first-time homebuyer tax credit is a thing of the past, the homeowner tax credits for energy-optimizing upgrades are in effect until the end of this year.
People are making more responsible mortgage decisions, and building financial good habits in the process. Buyers are buying far below the maximum purchase prices for which they are approved. They are reading their loan disclosures and documents before they sign them. And, thanks to the stingy mortgage market, they are spending months, even years, in the planning and preparation phases before they buy: paying down their debt; saving up for a down payment (and a cash cushion, so that a job loss wouldn't be disastrous); being responsible and sparing in their use of credit to optimize their FICO scores; and creating strong financial habits in one fell swoop.
Our feelings about debt and equity have been reformed. Americans no longer use their homes like ATM machines, to pull out cash, pay off their credit cards and then start the whole overspending cycle over again. Many can't, because their homes are upside down and cannot be refinanced in any event -- much less to pull cash out.
Others have been reality-checked by the recession, and are dealing with their non-mortgage debt the old fashioned way: by ceasing the pattern of spending more than they make, and applying the self-discipline it takes to pay their bills off.
Home equity, in general, is no longer viewed as an inexhaustible source of cash. Rather, we see it as a fluctuating asset to be protected and increased -- not so much through the vagaries of the market, but through the hard work of paying the principal balance down. Many of those refinancing into today's lower rates aren't doing it to pull cash out, as was the norm at the top of the market; instead, they are refinancing into 15-year loans to pay their homes off sooner than planned, or reducing their required payment so their extra savings can be applied to principal.
Of course, it remains to be seen how lasting these changes will be if and when home prices go up and mortgage guidelines loosen up. But since neither of these things look likely to happen in the short term, hopefully there's a chance that these behavior shifts will become part of a permanent mindset reset for American housing consumers.
Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions." Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.
Wednesday, September 14, 2011
Wednesday, August 3, 2011
What's It Take
I have made what I think is an interesting observation about this business called Real Estate. It is the behind the scenes pieces that make or break a Realtor.
Anyone who has their Real Estate license starts off full of hope and ambition. Thoughts of finding great real estate, working with buyers with tons of available funds to purchase the houses they have listed with delighted happy sellers. Ha Ha
Then reality sets in, making millions of phone calls, and getting hang up after hang up, spending hard earned cash on flashy web sites, flyers and advertising only to find none of it is attracting any clients. What is an aspiring Realtor to do??
The answer is simple, the basics..know your market, share what you know with who ever you meet, ask for business, take care of the business you get, and then ask for more. Provide your buyers with knowledge and support and direction to make smart choices. Help your sellers understand what is critical to them, explain what you are doing and how your doing it to get their houses sold. ANSWER your phone calls quickly. Be kind and caring with the other agents in your world, they could be on the other side of your next deal. Be respectful and communicate with your support team, your office staff, transaction coordinators,lenders and those wonderful title and escrow agents.
Finally, treat your real estate business, like a business.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
Anyone who has their Real Estate license starts off full of hope and ambition. Thoughts of finding great real estate, working with buyers with tons of available funds to purchase the houses they have listed with delighted happy sellers. Ha Ha
Then reality sets in, making millions of phone calls, and getting hang up after hang up, spending hard earned cash on flashy web sites, flyers and advertising only to find none of it is attracting any clients. What is an aspiring Realtor to do??
The answer is simple, the basics..know your market, share what you know with who ever you meet, ask for business, take care of the business you get, and then ask for more. Provide your buyers with knowledge and support and direction to make smart choices. Help your sellers understand what is critical to them, explain what you are doing and how your doing it to get their houses sold. ANSWER your phone calls quickly. Be kind and caring with the other agents in your world, they could be on the other side of your next deal. Be respectful and communicate with your support team, your office staff, transaction coordinators,lenders and those wonderful title and escrow agents.
Finally, treat your real estate business, like a business.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
Thursday, July 7, 2011
Price it Per Square Foot...
We all work as hard as we can to get a property sold.I do not know a single agent that wants a listing that they can not sell. We spend upwards of $1,000.00 on marketing efforts have generated many showings but no offers. What’s next?
Recently one of my Santa Cruz Real Estate Agents poised this question to me. She felt had done everything within her power to get the house sold. The seller could not lower the price any further. If they dropped the price any further, they would have to bring money that they didn't have to the closing table.
The sellers needed to sell their Santa Cruz home, the home had not sold, the sellers were angry and blaming the agent.
One of the things we discussed in this situation is to do an update on Santa Cruz market statistics. For example, if there are currently 60 properties listed in their neighborhood and price range and 10 of them sell each month, this means that in order to sell their property, the sellers must be in the top 17 percent of the properties on the market each month in terms of the price, condition and the location. With this many showings and no offers, they're continuing to fall in the bottom 83 percent that are still listed each month rather than in the 17 percent that sell.
The next we talked about ways to explain the seller’s choices, about ways to explain the current market conditions, detailing why certain Santa Cruz homes have sold, and others had not.
The final step is to outline the seller’s options:
1- They can adjust your price.
2- They can update the paint and the fixtures to make the house more appealing.
3- Or if they absolutely must get this price, you can take the property off the market and wait for the market to improve.
"It's your house and it is your decision. What would you like to do?"
Furthermore, it's often useful to either take the sellers out to look at the competition or to pull together a slide show of the interiors of the properties that went under contract or that are currently on the market. Sometimes the reason a property is not selling is that buyers can afford to be choosy. Everything else, unless it's way below market value, is languishing on the market.
Another idea is to do a price-per-square-foot comparison. Remember to choose comparable sales where the lot size and the improvement size are within 10 percent of the seller's property. Failure to do this will yield inaccurate results.
Some Sellers need to see a “picture” of their choices. If that is the case the next step is to make three pricing lines: one for sold listings, one for current listings, and one for expired listings. In most cases, the sellers' current price falls in the price range where most of the listings are expiring. Take the time to explain to your Santa Cruz home sellers that homes in the range between $170.00 and $200.00 per square foot have gone into contract in 60 days. Properties priced between $210.00 and $280.00 that failed to sell and are expired listings currently. Your property is priced at $265.00 per square foot.
Telling the sellers that they can leave their home on the market at $265.00 per square foot, and that it will probably stay on the market, or they can reduce their per square foot price which will increase the odds of selling. The choice is the sellers, the agents job is to give the sellers the information so they can make a choice based on facts, not emotions.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
Recently one of my Santa Cruz Real Estate Agents poised this question to me. She felt had done everything within her power to get the house sold. The seller could not lower the price any further. If they dropped the price any further, they would have to bring money that they didn't have to the closing table.
The sellers needed to sell their Santa Cruz home, the home had not sold, the sellers were angry and blaming the agent.
One of the things we discussed in this situation is to do an update on Santa Cruz market statistics. For example, if there are currently 60 properties listed in their neighborhood and price range and 10 of them sell each month, this means that in order to sell their property, the sellers must be in the top 17 percent of the properties on the market each month in terms of the price, condition and the location. With this many showings and no offers, they're continuing to fall in the bottom 83 percent that are still listed each month rather than in the 17 percent that sell.
The next we talked about ways to explain the seller’s choices, about ways to explain the current market conditions, detailing why certain Santa Cruz homes have sold, and others had not.
The final step is to outline the seller’s options:
1- They can adjust your price.
2- They can update the paint and the fixtures to make the house more appealing.
3- Or if they absolutely must get this price, you can take the property off the market and wait for the market to improve.
"It's your house and it is your decision. What would you like to do?"
Furthermore, it's often useful to either take the sellers out to look at the competition or to pull together a slide show of the interiors of the properties that went under contract or that are currently on the market. Sometimes the reason a property is not selling is that buyers can afford to be choosy. Everything else, unless it's way below market value, is languishing on the market.
Another idea is to do a price-per-square-foot comparison. Remember to choose comparable sales where the lot size and the improvement size are within 10 percent of the seller's property. Failure to do this will yield inaccurate results.
Some Sellers need to see a “picture” of their choices. If that is the case the next step is to make three pricing lines: one for sold listings, one for current listings, and one for expired listings. In most cases, the sellers' current price falls in the price range where most of the listings are expiring. Take the time to explain to your Santa Cruz home sellers that homes in the range between $170.00 and $200.00 per square foot have gone into contract in 60 days. Properties priced between $210.00 and $280.00 that failed to sell and are expired listings currently. Your property is priced at $265.00 per square foot.
Telling the sellers that they can leave their home on the market at $265.00 per square foot, and that it will probably stay on the market, or they can reduce their per square foot price which will increase the odds of selling. The choice is the sellers, the agents job is to give the sellers the information so they can make a choice based on facts, not emotions.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
Friday, June 17, 2011
You've Got a Friend
We can all agree that real estate is all about relationships.
We attempt to persuade our personal circles of family, friends and acquaintances to locate our next deal. We spend time and money working those relationships. And for most of us, I'd say it's a natural talent; We are, by and large, a group of "People-Persons." In Santa Cruz, Realtors can be found everywhere working their sphere.
Yep, take an informal poll. I'd bet big money that 80 percent of the agents are extroverts,outgoing,very public, fun and flashy -- it doesn't matter which personality profile test you use, the results are always the same.
We've never met a stranger and we love a good party. Someone once described us and the group who start dancing when it is dark and the light from the refrigerator comes on. I may make fun of the bright lipstick, big jewelry and flashy cars, but that's only because I can see the humor in my own choices.
What I was going to talk about was the fine line we have to walk when it comes to working with close family and friends. Some people seem quite able to walk the tightrope without the fear of a fall. Their fear of a friendship ruined or a family member using another Realtor is buried in the depths of their subconscious.
Take the agent who meets friends on Thursday to show property, and then is spending the next week with the same friends at a lakeside resort.
I'm pretty sure I could do one or the other of those things really well, but not both. I'll be honest. Given the same scenario, I'd have a hard time deciding when work time was over (is it ever?) and when fun time started. Would it be okay to skip the Saturday afternoon showing only to meet the same folks later at a BBQ?
Would they want to discuss the homes we while eating chips and salsa? Would we drink beer and eat popcorn out of the same bucket? Can we both turn off "work mode" at the same time? What if one of us wants to dance to that refrigerator light and the other just wanted a mid night snack, while we are at the house by the lake?
Under normal work requirements I am "on" all the time. But when the line between work and and real life is fuzzy, I can't turn off "work mode" until everything we do during a transaction is complete. When you are my client and we are together it is for one reason and one reason only.
I admit it, when I first started my career selling real estate in Santa Cruz I went through times of great stress when I found out someone I knew and loved had decided not to work with me when selling or buying their Santa Cruz home. There were hurt feelings and phone hang ups. After all I felt, if they referred me business-why would they then not use me for my professional services themselves? If I referred then business wouldn't they want to use me when the time came. Evidently not.
Now that I am a seasoned Santa Cruz Realtor, I get it, it makes sense and I understand the line between friends and business. I am okay with it, actually I am very okay with it. Call me I can refer you a great agent that will not be hanging out with you in our free time, eating chips or dancing with us to the light of the frig.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
We attempt to persuade our personal circles of family, friends and acquaintances to locate our next deal. We spend time and money working those relationships. And for most of us, I'd say it's a natural talent; We are, by and large, a group of "People-Persons." In Santa Cruz, Realtors can be found everywhere working their sphere.
Yep, take an informal poll. I'd bet big money that 80 percent of the agents are extroverts,outgoing,very public, fun and flashy -- it doesn't matter which personality profile test you use, the results are always the same.
We've never met a stranger and we love a good party. Someone once described us and the group who start dancing when it is dark and the light from the refrigerator comes on. I may make fun of the bright lipstick, big jewelry and flashy cars, but that's only because I can see the humor in my own choices.
What I was going to talk about was the fine line we have to walk when it comes to working with close family and friends. Some people seem quite able to walk the tightrope without the fear of a fall. Their fear of a friendship ruined or a family member using another Realtor is buried in the depths of their subconscious.
Take the agent who meets friends on Thursday to show property, and then is spending the next week with the same friends at a lakeside resort.
I'm pretty sure I could do one or the other of those things really well, but not both. I'll be honest. Given the same scenario, I'd have a hard time deciding when work time was over (is it ever?) and when fun time started. Would it be okay to skip the Saturday afternoon showing only to meet the same folks later at a BBQ?
Would they want to discuss the homes we while eating chips and salsa? Would we drink beer and eat popcorn out of the same bucket? Can we both turn off "work mode" at the same time? What if one of us wants to dance to that refrigerator light and the other just wanted a mid night snack, while we are at the house by the lake?
Under normal work requirements I am "on" all the time. But when the line between work and and real life is fuzzy, I can't turn off "work mode" until everything we do during a transaction is complete. When you are my client and we are together it is for one reason and one reason only.
I admit it, when I first started my career selling real estate in Santa Cruz I went through times of great stress when I found out someone I knew and loved had decided not to work with me when selling or buying their Santa Cruz home. There were hurt feelings and phone hang ups. After all I felt, if they referred me business-why would they then not use me for my professional services themselves? If I referred then business wouldn't they want to use me when the time came. Evidently not.
Now that I am a seasoned Santa Cruz Realtor, I get it, it makes sense and I understand the line between friends and business. I am okay with it, actually I am very okay with it. Call me I can refer you a great agent that will not be hanging out with you in our free time, eating chips or dancing with us to the light of the frig.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
Friday, June 3, 2011
Faster better smoother..
There's one BIG change that would make the Santa Cruz Real Estate recovery faster, smoother and more vigorous. All short sales should be at pre-approved prices. They shouldn't be allowed to go into the multiple listing service until the banks have agreed to the price, terms and conditions -- including and especially how deficiencies and seller contributions will be handled.
Why? Because we have too many willing and able buyers who get their hopes up and then are trapped in a short-sale contract, with slim chances of successfully owning the house. Unless the Santa Cruz buyer is in contract on multiple houses, they're out of the market waiting for something that probably won't happen.
Having multiple contracts hurts the sellers, as these buyers are going to drop out as soon as one of their "deals" comes together. Massive time and energy is being spent by Santa Cruz real estate agents, with little chance of success.
The strategic default problem would be reduced if the Santa Cruz sellers knew that they'd be foreclosed on quickly. They're taking advantage of the prospect of making out better by doing a short sale. They're the most likely to have the banks requesting funds from the seller, or refusal to waive deficiency judgment -- terms that the seller will probably turn down, anyway.
If we knew in advance that the seller was truly qualified for a short sale, that the bank didn't have some other agenda, and was motivated to not get the property back in foreclosure, then I'd be happy to bring my strongest Santa Cruz buyers to the short-sale deal. Meanwhile, the real buyers are fighting over the REOs (bank-owned properties), flips and equity transactions, of which there are actually too few.
Prices keep falling because the short-sale agents are listing at 5 to 10 percent below comps in order to try to get an offer, and often are accepting offers at even less. The banks come back at a higher price, and then the buyer walks. The downward momentum has been coming from the short sales, not from the REO listings.
It would be nice if the banks would just do as suggested, or the government forces them to do it. The reality is that the real estate community is going to have to tell the banks that we're not going to facilitate their craziness any longer.
We'll take the listings, we'll process the short sale to approval or denial, but we won't put it on the MLS or tie up a buyer, or spend money to advertize and promote it until we know there's actually a huge chance that a closing could take place.
That was the premise, and the promise of the Home Affordable Foreclosure Alternatives program (HAFA), but HAFA has been just as big of a joke as the way we do it now.
Let's only sell houses that can actually, really, truly be bought. If the banks can dictate to us that they won't even consider a short sale till there's an offer, then we ought to be able to dictate to them that we won't look for an offer without a pre-approval of the sale.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
Why? Because we have too many willing and able buyers who get their hopes up and then are trapped in a short-sale contract, with slim chances of successfully owning the house. Unless the Santa Cruz buyer is in contract on multiple houses, they're out of the market waiting for something that probably won't happen.
Having multiple contracts hurts the sellers, as these buyers are going to drop out as soon as one of their "deals" comes together. Massive time and energy is being spent by Santa Cruz real estate agents, with little chance of success.
The strategic default problem would be reduced if the Santa Cruz sellers knew that they'd be foreclosed on quickly. They're taking advantage of the prospect of making out better by doing a short sale. They're the most likely to have the banks requesting funds from the seller, or refusal to waive deficiency judgment -- terms that the seller will probably turn down, anyway.
If we knew in advance that the seller was truly qualified for a short sale, that the bank didn't have some other agenda, and was motivated to not get the property back in foreclosure, then I'd be happy to bring my strongest Santa Cruz buyers to the short-sale deal. Meanwhile, the real buyers are fighting over the REOs (bank-owned properties), flips and equity transactions, of which there are actually too few.
Prices keep falling because the short-sale agents are listing at 5 to 10 percent below comps in order to try to get an offer, and often are accepting offers at even less. The banks come back at a higher price, and then the buyer walks. The downward momentum has been coming from the short sales, not from the REO listings.
It would be nice if the banks would just do as suggested, or the government forces them to do it. The reality is that the real estate community is going to have to tell the banks that we're not going to facilitate their craziness any longer.
We'll take the listings, we'll process the short sale to approval or denial, but we won't put it on the MLS or tie up a buyer, or spend money to advertize and promote it until we know there's actually a huge chance that a closing could take place.
That was the premise, and the promise of the Home Affordable Foreclosure Alternatives program (HAFA), but HAFA has been just as big of a joke as the way we do it now.
Let's only sell houses that can actually, really, truly be bought. If the banks can dictate to us that they won't even consider a short sale till there's an offer, then we ought to be able to dictate to them that we won't look for an offer without a pre-approval of the sale.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
Friday, May 27, 2011
Making the Offer
Real Estate is a fickle friend. I can remember back to the good old days when every email or phone call was someone wanting to buy a Santa Cruz Home I had listed or someone who wanted me to list their Santa Cruz Home. Sometimes it was overwhelming, looking back I loved it and should have paid closer attention to the joy I felt.
Today, is different, very different. The call comes from a Santa Cruz Home Seller, wanting to meet, to consider the possibility that they might, think about, maybe, someday listing their home for sale...someday. The preparation for these meetings is exciting, you spend time reviewing sales, driving by the house, taking pictures and creating a report so you can explain that their wonderful, glorious home is worth about what they owe on it and nothing more. You are hopeful that they need to move so badly that they are okay with that.
Sometimes, your Santa Cruz Home Seller owes that house free and clear (whew) now you can help them understand how their home will be viewed bu the numerous buyers who will stop by during the open houses, you talk terms and pricing and if I have done my job correctly they will choose to list this wonderful for sale.
After what seems like a million years, the offer comes to purchase the Santa Cruz house. Wait a minute, the offer seems to be for another house, why would a buyer make an offer $65,000.00 under the list price? The very same buyer wants all the furniture and the car in the driveway?? Slight exaggeration, but you get the point.
I wonder sometimes what the Santa Cruz Home Buyer agents are telling their clients, just pick a random number and we will see what the seller is willing to take, why not ask for the moon and the stars while your at it.
Don't get me wrong, Santa Cruz Home Buyers should structure their purchase offers so they can afford the Santa Cruz Hone of their Dreams, but reality must always play at part at the end of the day.
As we like to say, and a motto we run our businesses by, it has to be a win-win or it is no deal.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
Today, is different, very different. The call comes from a Santa Cruz Home Seller, wanting to meet, to consider the possibility that they might, think about, maybe, someday listing their home for sale...someday. The preparation for these meetings is exciting, you spend time reviewing sales, driving by the house, taking pictures and creating a report so you can explain that their wonderful, glorious home is worth about what they owe on it and nothing more. You are hopeful that they need to move so badly that they are okay with that.
Sometimes, your Santa Cruz Home Seller owes that house free and clear (whew) now you can help them understand how their home will be viewed bu the numerous buyers who will stop by during the open houses, you talk terms and pricing and if I have done my job correctly they will choose to list this wonderful for sale.
After what seems like a million years, the offer comes to purchase the Santa Cruz house. Wait a minute, the offer seems to be for another house, why would a buyer make an offer $65,000.00 under the list price? The very same buyer wants all the furniture and the car in the driveway?? Slight exaggeration, but you get the point.
I wonder sometimes what the Santa Cruz Home Buyer agents are telling their clients, just pick a random number and we will see what the seller is willing to take, why not ask for the moon and the stars while your at it.
Don't get me wrong, Santa Cruz Home Buyers should structure their purchase offers so they can afford the Santa Cruz Hone of their Dreams, but reality must always play at part at the end of the day.
As we like to say, and a motto we run our businesses by, it has to be a win-win or it is no deal.
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
Sunday, May 15, 2011
What's it going to take?
I have discovered walls in real estate. Yes, there are real walls, rock walls, brick walls, but the walls I refer to are the walls that surround decisions in real estate.
There are always obstacles in Buying and Selling real estate, but in the last few years the very nature of the business has created hurdles, fences and real honest to goodness walls.
Recently, I read an article about a Realtor who had qualified a buyer with a lender and then spent over 6 months showing properties, previewing and searching out the perfect home for this ready willing and .... buyer. Guess what, the buyer was a fraud. The buyer was working on a project for her advance degree in Social Science and decided to study the Real Estate Industry from the buyers point of view. I would imagine that someone else was doing the same project from the seller's point of view.
Ouch! time, money, energy and who knows what else was wasted on this "project".
Oh, I know how much fun there is in helping Santa Cruz Home Buyers and Santa Cruz Home Sellers fulfill their goals and dreams. Looking forward to helping the next person succeed is the entire reason that Realtor's do what we do every day.
Our plan for the next few years, pulling up the boot straps, putting a smile on our faces, filling the gas tanks..and going for it!
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
There are always obstacles in Buying and Selling real estate, but in the last few years the very nature of the business has created hurdles, fences and real honest to goodness walls.
Recently, I read an article about a Realtor who had qualified a buyer with a lender and then spent over 6 months showing properties, previewing and searching out the perfect home for this ready willing and .... buyer. Guess what, the buyer was a fraud. The buyer was working on a project for her advance degree in Social Science and decided to study the Real Estate Industry from the buyers point of view. I would imagine that someone else was doing the same project from the seller's point of view.
Ouch! time, money, energy and who knows what else was wasted on this "project".
Oh, I know how much fun there is in helping Santa Cruz Home Buyers and Santa Cruz Home Sellers fulfill their goals and dreams. Looking forward to helping the next person succeed is the entire reason that Realtor's do what we do every day.
Our plan for the next few years, pulling up the boot straps, putting a smile on our faces, filling the gas tanks..and going for it!
Are you interested in Santa Cruz Real Estate,Buying or Selling Homes in Santa Cruz? Feel free to email me at Contact Me and I will be happy to provide you with information,listings and a FREE market analysis.
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