The Real Estate World Mid-2010
Northern Nevada Real Estate continues to be organized chaos these days. New regulations, policies, procedures, plus legal admonitions on how to protect the consumer and agent alike make for a constantly changing world. It takes more than the occasional newsletter from a professional organization to keep practitioners informed. Agents must now work diligently to acquire true knowledge, knowledge untainted by media hype. We've seen more legal "practitioners papers" in the past year on how to handle specific situations than we usually see over a period of five or more years. Every day is an adventure.
Agents and the public alike are subject to constant media blitzes informing us about the real estate market. Recent headlines screamed how bad the July housing sales were. That behavior only served to cause indecision in Buyers and Sellers. Both wondered how that affected them. Interesting in this case, while any local agent could have told you that activity slowed in July, when the headlines were touting their negative message we also knew that August was bumping. After a week or so came the new message, "August pending sales up". What is a consumer to do? Ask your agent about what is really happening.
It can be interesting to know what the market is doing, but do not make your decision based on what other people are doing. If the market is reported as slow, little volume, why would you wait for competition to buy a house? In other words - jump in and make your offer without others to compete with. If you are selling, why wait for a crowd when you only need one Buyer? That Buyer may be looking today ... but you want a tsunami of Buyers.
Recently there have been agents moving offices, offices changing names, new offices opening ... all normal activity, but in these times it seems as if more interpretation is given by the public to these business decisions. Agents run their own business and must adjust their situation as they see fit for their business experience, practice, and model. The same goes for the business owners - some want to operate a business beyond their personal production while others that have been doing it a long time determine it is time for a change. All normal events in the course of a business and/or career.
Our Advice: The objective of real estate has not changed... for Buyers and Sellers to meet their objectives and safely navigate the transaction to the satisfaction of all involved. Be informed, be aware, and act in your own best interest. Exceptionally low interest rates help Buyers and Sellers right now. Low prices certainly help Buyers, but Sellers also get good benefits with a sale if selling is in their best interest right now. Consult your real estate professional to determine how this market works for you. Individual situations vary as do different market segments. Some neighborhoods are "hot" while you can't give a home away in others. Where are you buying or selling? Your specific situation cannot be quantified on a 10 second evening news sound bite. You must work to determine what your personal real estate reality is today whether you are buying or selling.
Make your decision for you on your timing. Don't try to time the market if you are buying your personal residence - that is like catching a falling knife. Time the market for your life, wants and needs - that is, after all, the only things that count for you. When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless! Lisa Wetzel & Jim Valentine, CDPE, SFR, RE/MAX Realty Affiliates, 775-781-5472. firstname.lastname@example.org, www.carsonvalleyland.com
Lisa Wetzel and Jim Valentine are the authors of this blog. Lisa, Jim and Jessie are experts in Carson Valley , Carson City and the tri-county area of Douglas County , Carson City and Lyon County. Call our team anytime at 775-781-5472 or 775-781-3704. To Search for Homes go to: Carson Valley Listing Book or visit our website at www.CarsonValleyLand.net or www.CarsonValleyLand.com