‘Tis The Season To Be Merry (and Sad!)

For many, the holdiays is a time to be merry, however in our Real Estate circle it is a sad time as we have lost two great Real Estate friends in the last week!

PAM DAVIS  was a true friend to so MANY people!  Anyone remember seeing those little yellow houses on street corners with The Real Estate Book inside? ……. well,  that was Pam’s business for many years and she ran it well!

Pam passed away tragically and very suddenly, following a car accident, the day before she was to start a new life in Colorado with her family. Such a shock – it rocked our industry!  The service for Pam will be held tomorrow and I KNOW that the venue will be PACKED with those wishing her a final farewell.

JEAN KULEMIN has also been my good friend for some time – we worked together in the same Brokerage (in fact, Jean was instrumental in getting me to join this GREAT Long Beach Brokerage 4 months ago, where I am so extremely happy!)  and in Women’s Council of REALTORS (R). I think that Jean was a REALTOR (R) in the womb!  Knowledgeable and helpful with a GREAT sense of humor, Jean and I spent a lot of time together, both in and out of Real Estate.

Jean left this week for Spanaway, WA to be with her daughter and grand daughters. We gave her up very reluctantly, but understand that families must be together, so, putting our own selfish feelings aside, we bade her farewell on Thursday, looking forward to the time when her smiling face will return.

This IS a merry time, though!  There are two common fallacies at this time:

1)  That the market is so bad, that REALTORS (R) are struggling, and

2)  That nothing happens in Real Estate over the holidays and REALTORS (R) live on the bread line!

Dealing with point 1) first, one has to understand firstly, that the market is not bad – it has levelled out to the place where it belongs!  Yes! …  THIS is what homes should cost and the peak that we experienced in 2005/6 was just plain unrealistic!

That said, we need to understand that when the market is bouyant, it is the affluent people who buy and those who can afford it, trade up to bigger, better homes or better neighborhoods.  When the market is as it is now,  all those who couldn’t afford to buy in a bouyant market AND First-Time Home-Buyers, get their chance to get a foot in the door.

True,  it’s a lot harder to obtain a mortgage loan, now, but isn’t that the way it should be?  Shouldn’t lenders of such huge amounts, execise precautions and shouldn’t home buyers be prevented from buying property that they could lose to foreclosure, later?

The bottom line is that REALTORS (R) are still selling and listing properties – just to a different market.

Point 2) is an interesting one!  Sure, there are a lot of sellers who don’t want buyers trundling through their homes while they have family and friends visiting or they pull their listings and re-list in the new year, believing that they might get more for the property.  This causes the inventory to drop which creates scarcity and as I noted yesterday, some properties actually sell at above list price at this time of the year!

So who in their right minds would WANT to move during the holidays when we should be spending time with loved-ones?

**  Consider those who are relocating to a different State on job transfer?  Perhaps these people need to start their new jobs on January 2 (or 5)?  Would they now be looking to get into their new homes so that they are ready to give full attention to a new position? 

**  What about investors who have been looking for property for several months and MUST purchase before the end of the fiscal year to benefit from the tax advantages or pay more to Uncle Sam?

**  Time might be running out for 1031 Exchange buyers.

**  For buyers who have been looking for a while, this is an ideal time to take the plunge as the interest rate is LOW!  Why save a few pennies on the list price, when one can save a BUNCH over 30 years on lower interest?

It’s true….  for many REALTORS (R), this has been a tough year, but for those others of us who systematically forged forward, it has been a RECORD year!  One only has to speak to people like Tom Ferry, Joe Belmonte and Chadi Bazzi or to people like Ruth Pugh (who sells in excess of 100 properties a MONTH in this market), to know that the real estate industry is anything but DOWN for committed and dedicated REALTORS (R).  For those who found the year tough, the temptation to go on a year-end vacation is great, prefering to tackle 2009 with fresh ideas. This means that there are fewer REALTORS (R) to service the needs of buyers and sellers and we therefore are the ones who work right up to 4.30pm on Christmas Eve!

In my very first year in the industry, I wrote an Offer on a property on December 23rd and the buyer wanted a ONE WEEK Escrow, to close before the close of the fiscal year (this meant that she would receive tax benefits for the WHOLE year)!  True,  this is somewhat unusual as Escrows are normally 3 – 6 weeks, but it does happen! 

In short, this is a WONDERFUL time to be in real estate and I wouldn’t even DREAM of going on vacation at this time – there’s too much to do and too many clients who need good REALTORS (R) to help them.

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 ________

Althea Garner
Executive Real Estate
House Of Homes Online
http://www.HouseOfHomesOnline.com

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5 CommentsLeave a comment

  1. Note:

    Anyone wanting to Spam this Blog with their advertisements, NEEDS to know that their URL becomes mine and all referrences will be to my web site.

    Such is the workings of Spam!

    So, if you’d REALLY like to promote my business, KEEP ON Spamming this site!

    For all others who have meaningful input: I appreciate your comments and will continue to display them – thank you!

    Althea Garner

  2. Note:

    Anyone wanting to Spam this Blog with their advertisements, NEEDS to know that their URL becomes mine and all referrences will be to my web site.

    Such is the workings of Spam!

    So, if you’d REALLY like to promote my business, KEEP ON Spamming this site!

    For all others who have meaningful input: I appreciate your comments and will continue to display them – thank you!

    🙂
    Althea Garner

  3. Wow.. Amazing site to get all details

  4. What a wonderful blog. I’ve been out of real estate for 3 years (prior to the financial crash) to focus on creative writing classes. I found your blog inspirational, informative and written in a clear, concise manner. IMPRESSIVE!

    • Oh it makes me sad to know that someone ‘got out of the business’ but, by the same token, I am happy that you have found your niche in writing!

      Let me know how I might be helpful!

      Althea Garner
      REALTOR (R) MBA, MCI, e-Pro
      Executive Real Estate – House Of Homes Online
      http://www/HouseOfHomesOnline.com


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