Busy, Busy, Busy

The first few weeks of the new year have been so busy, I have not the time to post my thoughts as I usually do. The buyers and sellers are very active right now and if I am not working on listing presentations, scheduling showings, open houses,  showing properties than I am following up with my clients. Although we are supposed to be working toward a paperless industry, there are a lot of blanks that still have to be filled in online.

I did want to share the following observations:

• Sellers are listing to sell, not just to list or they are not listing at all. If their properties are not selling they are making adjustments. The easiest place for home buyers to monitor pricing in a neighborhood is at Trulia’s Heat Map.
• Distressed properties(Short Sales and Foreclosures) continue to be a factor in pricing and inventory whether the buyers and sellers like it or not. I don’t see that changing for a while.
• Buyers and sellers need to let the Realtors® they have chosen to represent them do their jobs.
• A listing agent: It is the real estate professional’s job to market and show your property, get offers and negotiate them so they close.
• Buyers Representative:   The real estate professional  should accompany the buyers on showings of properties they are qualified to purchase and work with them on offers that will close.
• When sellers get personally involved with the buyers they become their own biggest obstacle.
• If buyers want to take advantage of the tax credits, don’t procrastinate. You cannot dictate when a short sale will close. There are a lot of choices out there. Why would you rush into one of the largest purchases you will ever make?
• There are so many more factors involved now to get a property closed. Many which are out control of the principal’s to the transaction such as the lenders and the condominium associations.
• Work with someone who is honest about the way it is not just what you want to hear. Agents telling their clients what they think they want to hear instead of what really is creates expectations they probably won’t ever be met.

In 2010 will we see many more transactions close than in 2009 with many more challenges. The biggest factor is having a professional representing you who can navigate the path for you.