Ozaukee & Washington County Real Estate: December 2010

Could not have said it better myself. Mike Carlier offers a great analogy as to why NOW is a great time to buy a house. Thanks, Mike!

We're just three weeks from the beginning of yet another year. So guess what I've been doing lately? Reflecting. I am embarrassed to say what my real estate production has been in 2010, but it has prompted me to sit back and ask myself, "What happened?"

Here's what I've learned.

1. I am not a tour guide. If a buyer has a house to sell but doesn't either have the house on the market or ready to put the house on the market today, we won't start looking at houses. If the buyer does not have or refuses to get a letter of pre-approval, we won't start looking at houses.

If a buyer is new to the area and wants to see the different neighborhoods and attractions but is not interested in purchasing a home for "6-12 months," they will have to enlist themselves to drive around and get familiar.

2. It is not my wish to have the title "Queen of Overpriced Listings." Part of the services I offer is to provide sellers with a market analysis -- a summary of comparable homes currently on the market and that have recently sold. I offer tools and advice to help them price their home to sell, not sit with a sign having my name rider dangling from it for the next several months or even couple of years. I know it's their right to list their house at the price they want to list it at. But it's also my right to walk away.

3. If a seller says, "Well, we don't have to sell," I am going to listen to that little voice inside my head that says, "Turn around and run!" This kind of goes along with #2 above. With the mindset of "I don't have to sell," comes the mentality that it's not necessary to listen to and really hear the feedback from buyers or to acknowledge that the lack of showings is likely an indication the market simply cannot handle the house at the current price. If a seller really doesn't have to sell, then I really don't have to list the house.

4. I need to walk away from those individuals who complain about not having any business sooner rather than later. "Making it" in any business takes dedication, hard work, a positive attitude, and enthusiasm. And in a tough economy, multiply the needed dedication, hard work, positive attitude and enthusiasm by a hundred. If you don't follow up or do open houses or go to sales meetings or stay in touch with past buyers and sellers or send out regular mailings or make phone calls, you won't have any business. It is that simple.

I will not wait until the new year to start making changes. I'm making those changes now. And things are already heading in a better direction.

Yes, 2010 was a tough year, but it also provided many learning opportunities. And for that I am grateful.

Emotions seem to be running high with buyers and sellers these days.

I state the obvious when I say the market is tough out there. It can be brutal sometimes. And this has pushed levels of frustration, sensitivity, and even anger to a new high.

Sellers don't understand how a buyer can't see the value of the work they've done to the house over the past several years. And buyers wonder how the seller can't see that the dated carpet and knicked up counters need some attention.

How can I help my buyers and sellers--and quite frankly me--keep these emotions in check?

I'm not sure I have a definitive answer. But I do think it's important to remember we look at things from a perspective other than our own. Sellers have a different perspective than buyers and vice versa. And if we all have the same goal in mind -- to close the deal -- it is likely we'll have to step out of our shoes and into someone else's to make that happen.

When you know the amount of blood, sweat and tears that went into updating those cabinets, installing the new floor, or painting those 10 foot walls, in your mind, the value of your house just went up. But remember -- updates that were made 10, 15, 20 years ago likely need attention again.

When you know that you will want to replace the worn carpet, install updated counters, and refinish those scratched hardwood floors, in your mind, the value of the house just went down a little. But remember -- there's a difference between updating and repairing worn or broken things versus changing something to suit your personal taste.

Bottom line -- both the seller and the buyer want the same outcome, which is to close the deal. Looking at things from a different perspective might just help you achieve that goal.