Archive for June, 2009
Opportunity is invading today’s real estate market! It seems no matter where we turn we there are massive deals generated by corporate relocation companies dumping property, builders teetering on financial destruction, banks with too much foreclosed property and homeowners under water on their personal loans.
There seems to be no end to the constant dumping of real estate and yet there aren’t enough wise investors to come out and scoop the deals up. This makes the opportunity currently in the market seem more like a temptation to be avoided with steadfast religious fervor than an opportunity to be embraced… the dynamic in the current market is surely interesting.
The challenges to taking advantage to today’s opportunity has more to do with denial than reality. Most of those willing to dive in are unwilling to see how sacrificing a little on the sale of their own home could mean a tremendous increase on the other side of the equation. What is perceived to be the price one could have sold a home for in 2006 is now seen as a “true” loss instead of an unrealized gain. There are two analogies I can use to describe this pervasive mind set. (more…)
Not only are the smaller brokers sucking wind (like automakers, builders & tradesmen) but the government is changing how they must do business. One of the changes that was implemented, after the “emergency” bill was passed thru congress early 2009, was the need for detailed disclosures. The new Guidelines are labeled as:
I’ve seen many sales people walk away from a busted sales opportunity scratching their heads and blaming a down market, when the reason they lost the sale was their own abrasive personalities and their poor attitudes kept them from it. The real interesting thing about this is the I mainly see the Veterans doing this routine…..the ones who had it all for just showing up in the years of the bumper crop. In this market the sales are very hard to come by and making the most of every opportunity requires grooming. We need to be aware not only what we look like on the outside, but we also need to groom our inner sales person.
Ways to groom our inner sales person:
- Take time off to detox from this current market
- Spend some time with the family (you may miss one customer, but you won’t miss your kids or grand kids growing up)
- Read a fiction book or inspirational book
- Waste some time at the mall and buy an ice cream (more…)
The gloom and doom in the media has made people forsake all reason. It appears that the “experts” can dominate by the stroke of a pen, the keying of the keyboard and the loose lips of a pundit.
The true problem is they have little internal knowledge of true conditions, only opinions. They themselves are over sensationalizing the crash to sell their product….news. News is the best market to be in right now. One can certaily see the feeding frenzy the media makes oversensationalizing certin pet issues while completely overlooking others. Let’s narrow it down to what we know to be true:
- True statement: homes were over priced and a correction was due.
- True statement: predatory lending practices were going on, I myself was offered a “non-conventional” loan when I bought my home in 2003. (more…)