This funny clip from Keeping Current Matters (KCM) blog is an accurate illustration about how EVERYONE has something to say about real estate…Luckily, right now there is a good chance that a lot of what you hear will be fairly accurate. With the increase in information sources on the internet, consumers can get some idea about home values and the current market.

But, even with all that information at our fingertips, its important to remember the value of word of mouth, or the recommendations from people we trust, can be the most influential information source. If you are lucky enough to have a LOCAL Real Estate Professional in your peer group you should be getting all the good info. If you are listening to “Uncle Frank” you might not be…

I had young buyers out recently and the 8th house we saw over the course of two evenings met ALL of their needs/wants criteria. Based on recent comparable sales I felt it was well priced. In fact, it was UNDER priced and was probably going to result in a bidding war. We discussed making an offer and they told me this..

                                                  “Well, our neighbors Uncle Frank was a realtor in Essex County in the ’70s and he said in this market we should offer at least 50k off any asking price…”

REALLY??! Part of me wants to punch Uncle Frank in the face…

... but I digress…I told them as their agent I would be willing to present any offer they put in writing but I would strongly advise them to go full price.  They listened to Uncle Frank and our offer got rejected. After showing them more houses over the next week or two (that they consistently compared to #8) they wanted to go back to the that 8th house. Too bad it was already UNDER CONTRACT. I HATE when my buyers learn lessons the hard way!

Good news is we did eventually find them a house that met most of their needs and made them happy to call home.

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During a recent weekly sales meeting my broker asked us all how we would answer this  question that we all get…

“so is the real estate market recovering?”

One of the braver agents in the office spoke up and gave a really great, well thought out response, that, yes, based on current data from our local MLS showing an increase in closed and pending sales year over year, the market is definitely coming out of the slump.

Graphic for pending sales

Graphic from KCM Blog for pending sales

 

This graphic from a recent  KCM (Keeping Current Matters) blog illustrates that nicely–but I much prefer the way another agent in my office puts it when asked if we are in recovery–

“HELL, YEAH WE ARE!”

His enthusiasm is infectious…I have been really lucky that, even though I began my career in real estate just as the market began to tank, my business has always been fairly steady.  I have noticed some slight changes, however,  recently that would confirm the market rebound…

–I was showing houses in Ocean Grove  last week and some strange things happened… Ocean Grove, for whatever reason, is the kind of town where realtors prefer you pick up the keys to show a property (even a VACANT ONE!) rather than have a lock box on the home. At each office I stopped at, I either had to wait for keys to be returned,  or I had to rush to get the keys back so another agent could show the property. My buyers and I walked the town from house to house (its that kind of town-so cute and lots to see) and we saw the same other realtors with their buyers out looking–tons of them!!  When we went to make an offer on a home at the end of the day (that had been available when we started earlier) there was already an offer on it!

–When calling to prepare for some showings in the Adult Community of Holiday City over the weekend, of the 15 homes under 80k (there are currently 18 homes on market under 80k) I had planned to show only TWO had no offers on them yet…

–I actually got  the chance to say “you should really consider making an offer on this house today” recently when showing a very well priced new listing. My buyers didn’t listen, wanted to see more houses, and when they realized that earlier home was the house for them it was TOO LATE—multiple offers!!

Sooo what would my answer be? “HELL YEAH, WE ARE RECOVERING!”  :)

 

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Theres LOTS of crying in Real Estate!

May 21, 2012

There IS a lot of crying in real estate… Even if Toms Hanks thinks there shouldnt be a lot of crying in baseball— There actually  IS a lot of crying in Real Estate… I had a chance to shed a few tears during the last few weeks, some happy, some sad… I ran into some [...]

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Nance, the Realtor

May 17, 2012

      How many realtors can say they had a portrait done when they became licensed?  I love this drawing, done in 2005 by my then 8 year old daughter. For awhile I had been unhappy with my  career in pharmaceutical research. My job paid well and allowed me to work from home to be with my [...]

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Cash vs a buyer with a house to sell–which would you pick??

May 2, 2012

I have a really pretty listing in the North Dover area of Toms River for sale. Its been on the market thru several real estate companies since March of 2011. The seller has owned the home since 2003 and originally lived there with her extended family. Her circumstances have changed and its now too big [...]

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National Open House weekend–what are you doing tomorrow??

April 28, 2012

Nation Wide Open House Sunday 4/29/12   Will your home be open? Do you have plans to be out looking? I am a realtor who strongly believes in the value of the Open House, but I know not everyone shares my viewpoint. Please see this great post from my broker, Jim Flanagan, about the “Haters” [...]

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She did it!! 81 year old buyer gets a new place to call home!

April 23, 2012

In an update to one of my earlier posts, my  81 year old seller became a buyer when we finally found the right place for her in one of Toms Rivers’ many Adult Communities. Her real estate transaction was like riding a roller coaster with lots of ups and downs but she hung in there [...]

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“More than walls, floors and ceilings…”

April 19, 2012

When I first started with Coldwell Banker in late 2005 they were running a promotion where agents were to get local students involved in a campaign meant to raise awareness in young people about what it means to have a “HOME.” I think this commercial illustrates the VALUE of a home beautifully. Watch Coldwell Banker’s [...]

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“Whatever you want, Ma”

March 28, 2012

I took my 81 year old seller to see some Adult Community homes in Holiday City Silverton. She finally found one she liked (after looking at about 50) and she wanted her daughter to see it. Its a little dated; original baby blue tiled bath, 40 year old laminate countertops and cabinetry. Those things didnt bother my client.  [...]

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