Posts Tagged ‘Real Estate Investors’

A Tip For Sucess

July 15, 2009

URL: http://realtytimes.com/rtpages/20090715_toughmarket.ht

I read this article today and it really struck a chord with me. When business is slow, I can make excuses for slowing down too. I learned from this article that when things slow down, I need to keep up a fast paced prospecting campaign. If I slow down along with the market, then it is only going to hurt my business even more.

Check it out:

More Biz in Tough Market: Success Secret #11

by Brian Hilliard

Want a quick tip for getting more business in today’s tough market? How about this thought: Successful people don’t stop themselves, whereas unsuccessful people do exactly that.


Allow me to explain.

I’m coaching an 8th grade boys basketball team here in Atlanta, GA, and one of the things I tell them all the time is the importance of moving around while they’re on the court, and not “defending themselves” by simply standing still and not getting open.

Because if you’ve ever watched basketball at the college or even professional level, what you see are 5 guys constantly moving around, constantly trying to get themselves or their teammates open so they can shoot the ball.

What you don’t see are a bunch of guys standing around hoping something good will come their way.

Yet in the world of real estate, where everyone is talking about the housing “slump” this, and the economy that, I can’t tell you how many Agents are doing just that – standing still when it comes to getting more business.

I’m talking about things like:

  • Not going to networking events because “it hasn’t worked before”
  • Not publishing an electronic newsletter because “it takes too much time”
  • Not asking for referrals on a consistent basis because “the market just isn’t there yet”
  • Not getting into the office as early as they used to because “nothing’s going on anyway”

All of these actions – or this case, inactions – take you out of the game. They put you on the “sidelines” and don’t give you or your business a chance to be successful.

This is why Realtors left and right are falling out of the business. Not because of the market, not because of the economy, but because they stopped trying and essentially took themselves out of the game.

So the question becomes: What are you doing on the proverbial basketball court of real estate? Are you hustling to get open and “score a basket” or are you standing around complaining about the market, and waiting for something good to happen?

If you’re like me and want to excel in the world of real estate, then I’d recommend you learn as much as you can, as fast as you can, about building your business – especially in a market as tough as this.

As a matter of fact, we have a free report on how to get more business in today’s tough market, which has some tips and tricks on getting more business in a market as tough as this. Just email info@agitoconsulting.com (Subject: Today’s Tough Market), and we’ll be sure to send out our free report right away.

And in the meantime, stop standing on the sidelines and get in the game! Believe me, you’ll feel so much better when you.

Published: July 15, 2009

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Is real estate starting to bounce back?

June 22, 2009

Is the housing market starting to recover? In talking to hundreds of real estate professionals in different markets across the country, I have found that some markets seem to be starting to recover.

What about your market? Are things getting better or worse?

The following article, published in The Wall Street Journal this past weekend, looks into some areas in California that seem to be starting to recover from this recession.

Please read, and more importantly, tell us what you think! How is your local real estate market doing?

California Housing Market Shows Pockets of Recovery

Prices Have Dropped Far Enough to Lure Buyers in a Trend Also Showing Up in Other Parts of the Country

URL: http://online.wsj.com/article/SB124545407944432853.html

By JIM CARLTON

SAN JOSE, Calif. — A home-sales revival that began last year in some of California’s cheaper inland areas has begun to spread to several more expensive coastal areas, another hint that devastated real-estate markets in the state — and other parts of the country — may see less grim days ahead.

Homes are selling briskly again in the lower end of the market in Santa Clara County, just south of San Francisco, with prospective buyers making multiple offers and bidding well above asking prices. The median sales price of a single-family home in May was $445,000 in the county, up 5.7% from February, when prices stopped dropping.

Santa Clara County is one of several areas around the U.S. where prices have dropped far enough to lure buyers, including investors, back into the market. Other metro areas showing this trend include the northern Virginia suburbs of Washington, parts of Phoenix and San Diego, said Ivy Zelman, chief executive of research firm Zelman & Associates. Even in glutted markets like southern Florida, investors are “gobbling up distressed inventory” in some areas, she added.

In Northern California, a big factor is first-time buyers like Denise and Steve Petrosky, who are newly optimistic about the market and can afford a home for the first time. The Petroskys in February paid $374,900 for a three-bedroom home in Morgan Hill, just south of San Jose, that last sold in 2006 for $610,000.

The couple were too leery to enter the market last year while prices were still heading down, said Mrs. Petrosky, 43 year old, an office manager, but felt prices had bottomed early this year. “Basically, we had set a budget what we could afford, which was below $400,000,” Mrs. Petrosky said. “When the prices came down below that, we bought, because we could afford to.”

Home prices are still falling in many California markets. But the state’s average existing single-family home price has been inching up for two months, with the median sales price climbing to $256,700 in April from $247,590 in February. Much of that increase is thanks to a growing number of pockets of recovery in the housing market.

In Northern California, the median price has risen for four straight months in Santa Clara and for three months in Contra Costa County, according to estimates by MDA Dataquick Information Services, a market-research firm in La Jolla, Calif. In Southern California, the median price has risen or stayed the same three months in a row in Los Angeles County.

Those price increases might not presage a lasting resurgence in California’s housing market. The state’s high unemployment rate — 11.5% in May — could lead to more foreclosed homes that banks could then dump on the market. California’s median home price remains down 37% from a year ago.

More broadly, Ms. Zelman and other housing economists cautioned against interpreting signs of greater sales activity as meaning the housing bust was nearly over. Interest rates on 30-year, fixed-rate prime mortgages have risen well above 5% in recent weeks and could rise further if inflation fears push up rates. A national tax credit for first-time home buyers ends Nov. 30, removing a big incentive.

“The overall economy in California hasn’t gotten its footing,” said Katherine Aguilar Perez, executive director of the Los Angeles office of the Urban Land Institute, an industry think tank. “So it’s difficult for me to say we have hit bottom.” Still, she said, “there are some pretty clear signals there is some leveling.”

A look at Santa Clara County shows some of the dynamics behind the leveling. Home to Silicon Valley in the north, the county of 1.8 million residents went into the slump with the rest of the state, with county unemployment shooting above 10% this year from 5% in 2007. The median price of a previously owned home fell 48% to $420,000 in January from a high of $805,000 in August 2007, according to Dataquick.

Late last year, the county’s sales still lagged behind those in inland areas like Riverside and San Bernardino counties, where sales volumes were up 251% in November 2008 over November 2007, according to the California Association of Realtors. Santa Clara County’s November sales were up only 16%. The inland sales were booming, in part, because prices fell further there.

Then the lights seemed to turn back on in Santa Clara County home sales. Sales were up 40% in December, and kept rising into 2009. The median price, which had slid steadily since June 2008, stopped falling in February. The number of pending sales in the county has nearly doubled to 3,882 as of last week from 2,096 a year ago, according to the Santa Clara County Association of Realtors.

The biggest catalyst, local agents say, has been affordability. By April, the number of Santa Clara county residents who could afford a home in the county, based on household income, had jumped to 50% from 18% two years ago, said Quincy Virgilio, president of the Santa Clara County Association of Realtors.

Typical buyers are Scott and Yuriko Herbig. Mr. Herbig, a 28-year-old engineer, said they had a budget of less than $400,000, and couldn’t find anything in that range when they began looking in 2008. Then, early this year, Mr. Herbig said, the market suddenly started filling with homes under $400,000. The couple in March bought a four-bedroom home in Gilroy for $362,000. “We got lucky,” Mr. Herbig said. “I think we hit right at the bottom.”

As in other areas of California, the hottest part of the Santa Clara market has been at the lower end — in this area, that’s under $600,000. For example, prices rose 15.6% to $540,000 in April in one zip code near downtown San Jose from $467,000 in January, according to Dataquick.

By contrast, prices in some higher-income neighborhoods in Santa Clara County are still falling — such as in parts of tonier towns like Cupertino and Los Gatos. Agents said that reflects borrowers’ problems getting jumbo mortgages to make those purchases. Home prices are still falling in parts of San Francisco and San Diego County for the same reason, they said.

—James R. Hagerty contributed to this article.

Write to Jim Carlton at jim.carlton@wsj.com

Printed in The Wall Street Journal, page A3

Where have all of the FSBO’s gone?

September 25, 2008

I have been tracking For Sale By Owner properties one way or another for the past 8 years.  Recently, I’ve noticed that FSBO listings have substantially dropped off.  For example, in May of 2007 my company, FSBO Leader (www.fsboleader.com), found over 50,000 new FSBO listings.  Compare that total with August of 2008 when we only found about 13,000 new FSBO listings. 

Where have all of the FSBO’s gone?  In this down market, it’s obvious where they all went.  In this market even FSBO property owners have decided not to sell.  I see this as good news for the industry as a whole.  Those FSBO’s who are still trying to sell in this market are the ones that must sell so buyers should be able to find great deals on those properties.  In addition, the FSBO’s who haven’t sold will be more inclined to list after giving it a try on their own for a few weeks, which is good news for real estate agents.

Yes, there are fewer FSBO’s on the market now, but we have found that they are serious about selling.