East Bay Blog

The good news for you all this week is two fold.  First, market activity seems to be picking up a bit.  Although you can credit the nice warm weather we've been having lately, I think it may be a bit more than that.  I've met with several sellers this week, and they all seem to be up to date with the current status of the market.  That is to say, they are willing to price correctly, and be patient.  They know not to expect to sell in one week.  Six months ago, I was trying to educate every seller I met as to the reality of the market.  The buyers I am working with are also ready to buy.  They have seen what is going on, and know that this is a good time to purchase a home.  If they are selling, they know it's all relative, what they lose in the sale, they gain in the purchase.  Also, the National Association of Realtors reported yesterday that pending home sales rose in February by 0.7%.  That is more than was expected, especially since we had an extra cold February.  I still remember seeing my fountain in the back yard covered in ice...  The increase in activity may be a sign that the market is starting to stabilize.  Too soon to tell, but a good sign.

The second bit of good news for you all, is that the quality of Real Estate & Mortgage Professionals in this industry will be getting better shortly.  Contrary to popular belief, being a real estate professional is hard work.  When the market gets a bit crazy, like it was for the past several years, everyone jumps in.  The fact that you could practically just put a post in front of the house, sit back and wait for the offers did not help the perception that this is easy.  Now those days are gone, and it's back to normal.  Marketing is once again very important.  Keeping clients updated on activity, being proactive in implementing new strategies for getting the word out about a home, and working hard are once again keys to selling Real Estate.  On the buying side, being able to provide information on competing properties, taking clients to see several that may fit their needs, and advising on the best negotiating tactics are more important now.  That means that all of the people that jumped into this thinking it was easy money are now hitting the exits.  The cream rises to the top...  and only the strong survive.  That is happening right now in our business, and you will benefit.

If you have any response to my comments, please post them.  I would love to hear what you think.  If you would like to post your own commentary, let me know, I appreciate more than one point of view on our market.  Talk to you again soon...