My phone rings a lot with people who need to sell and have unbearable heartaches in their lives. Divorce, job loss, death, retirement loss, rising cost of living paralyzing cash flow and when you couple that with 2 years of a declining real estate market it has made me more than a REALTOR, I am now a counselor and consultant for many families. People ask me all the time; “How is business”? I could tell them it is full of opportunity, because it is. But, I usually just tell them the truth; “It is an emotional roller coaster”. I am still gratefully selling houses and haven’t missed a meal but, the sadness that I deal with daily caused by this declining real estate market is what makes my business so hard. This week I had several listing appointments and all had serious struggles in their lives. Last week one of my sellers had to bring $68,000 to closing to get out of their Raleigh home so they could get into their new home in another state.
Many families come to me whom are facing foreclosure. So many people I meet are “upside down” in their home and they can’t sell. Upside down is a real estate term for owing more for your home than it can sell for. We are always upside down when we buy a new car, diamond ring, furniture or most anything else in life but, we don’t expect it from real estate. My seller appointments are riddled with shock and sadness and my buyer appointments are so excited because they are getting more house than they ever dreamed of. My world can be an emotional roller coaster every day but, I know as a professional the best thing I can do for my home buyers and home sellers it to stay firmly planted on the ground for them. They need me more than ever to give them good advice.
Some advice I am giving is: BUY NOW it is a fabulous buyers market. If you don’t have to sell, don’t list now. It is not the time to try or test the market. Only motivated sellers have success. The rest fail. If you need to sell hire someone with a successful track record and extremely good Internet exposure. Follow their advice for staging and pricing. Every home is in a beauty contest and a pricing war. To sell in this market you need a business plan. “Let’s try it” mentality doesn’t work.
If you have any questions, feel free to call me at (919) 235-0007.
Hope you have a great week.