My New Blog

http://rismedia.com/2009-08-19/mortgage-loan-delinquency-rates-rise-but-pace-is-slowing/

We in the residential community have been getting a strong sense of this trend and am happy to report that it is starting to make national news. 

http://rismedia.com/2009-08-20/housing-affordability-continues-to-hover-near-highest-level-in-18-years/

Many buyers that have been on the fence have been waiting for housing prices to reach the levels they were at before the "housing boom," so more or less 2001-2002 levels.  In many centrally located communities we have easily attained that level and in some cases are lower than that.  This coupled with lower than normal interest rates, makes the time to buy very attractive and not just for the first-time home buyers looking to take advantage of the 8k tax credit.

I am often asked by newer agents what makes a successful REALTOR and what are the keys to longevity in the business. I don’t think there’s one definite answer to either of these questions, however near the top has to be the ability to control what’s between your ears. Controlling your everyday thoughts and finding the motivation to stay focused and on task are two traits that successful real estate agents possess.

As we know REALTORS, along with many other sales professions, are responsible for their own day to day duties and activities. We don’t have bosses telling us what to do and where to go at every time of the day, so it is our sole responsibility to get up each morning and decide which activities will yield the biggest returns. When the housing market is booming everyone has the motivation to get up and get started with the day, but it is markets like we are currently experiencing that will test even the most seasoned agent. Listings are harder to find, unless you are in bed with the banks, and if you do find sellers that want to sell they are more often than not attached to the appraisal they got in 2005. Thankfully buyers are more knowledgeable however getting a loan isn’t a slam-dunk anymore and even when you do find the perfect house you might be one of many offers on the table.

It’s the agents that identify these issues in our market but spend little if any time dealing with them that can weather the storm and will see through it to the other side. From a prospecting point of view there are numerous ways to market yourself and your company however if you lack the motivation and enthusiasm for them they will never get off the ground. Some techniques that I use to ramp up my motivation or change to a positive state of mind are the following:

Read inspirational books or emails

Surround yourself with positive people and mentors who have been there before

Exercise on a regular basis

Limit negative/national news coverage

Take at least a full day off per week

Spend time with family

Foreclosure activty for the state and Maicopa county continues to increase but thankfully buyer activity has also increased realizing the cost of homes in the Valley is back to the affordable levels of 2003 and before.

http://rismedia.com/2009-08-13/us-foreclosure-activity-increases-7-percent-in-july-realtytrac/

Sales in July dipped slightly from June numbers but supply still remains at a doable 3.5 months.  Now if we can just get some of these short sales to close escrow we will shrink this 18k plus pending property number that has been haunting the market for months now.  Speaking from personal experience I have 3 clients waiting on an answer from a bank on a home that they want to purchase via a short sale.  Unfortunately all three have been waiting at least 3 months just for an answer on whether the bank has accepted or rejected their offers.

This is from a normally gloomy source.

http://realtytimes.com/rtpages/20090804_realestateoutlook.htm

http://finance.yahoo.com/news/Welcome-to-the-bottom-Housing-apf-1993519878.html?x=0&.v=1

More positive news from an unbiased source.  Was out with 2 different sets of clients today and still amazed at the amount of activity under 200k in the North Valley.  More pendings than active properties is encouraging yet frustrating that if you find a good one and don't move on it immediately you can almost bet it won't be there in a couple days.  If it is there in a couple of days you will be one of many offers.

Been hearing way too much about Realtors putting in offers WAY above asking price just to get the highest offer knowing that it won't appraise and getting to pay the appraisal price.  Thankfully listing agents are getting wise and throwing those offers away right off the bat.