Oh No, Our Recovery Is A Ways Off

We tend to be a nation of statistics. What's your GPA, batting average, bowling average, slugging percentage, closing ratio, can ratio, leads per sale, percentile of achievement, and on and on.

Now we read or hear that housing starts are up - or they could be down depending which newspaper or cable service you are using.

Then we hear that it could be another 3 years before things are "back to normal." Phooey!

News flash: this is the new normal.

Forget what is happening in other markets except as cocktail party conversation.

Look at your own market. This is what we have to work with, so until conditions change, this is normal. It's not the way it was, but it is the way it is.

What's the first rule of real estate? No, not location - the other one. Real estate is local.

'Nuff said. Concentrate on how our own markets are performing and do our best to be leading the way.

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For more information on my coaching and educational programs and services, visit my website stevehoffacker.com or go to my other blog homesalesinsights.com for additional sales tips, insights, and commentary. You can also listen to my free podcast messages at Steve Hoffacker's Happenings.

© Steve Hoffacker, 2009. All Rights Reserved.

12 comments • Steve Hoffacker - Real Estate Sales & Marketing Consulting and Strategies • September 27 2009 09:37AM

Are we getting close?

Now that 2008 is winding down and 2009 is on the horizon, are we getting close? Close to what? To a "return to normal."

It really depends on what you view as "normal." If you mean what we experienced just a few years ago, then I hope not. I don't want to go back there.

If you're talking about a time when real estate is stable and somewhat predictable, then I'm for that and I don't see it as being that far off.

What is normal anyway? It’s an average. It means things have been better and things have been worse. In the past 5 years we've seen both extremes.

Remember when people would trade their homes every few years? Now, they are prepared to to stay in them much longer. Aging-in-place is a big factor.

Regardless, a "normal"  real estate market to me is when people can put their homes on the market, sell them in 2-3 months, get close to what they’re asking, not get attacked and beat up over a bunch of concessions, find another home that is within their affordability range, get financing at reasonable terms, move into their new home (not necessarily brand new), and enjoy it.

For new homes, it means that builders can create a product for which there is reasonable demand at an acceptable absortion rate - and not have to give them away because they are overpriced or overbuilt.

For me, I don’t need homes selling before the dirt settles on the yard sign or sellers making back all of the “lost” equity they feel they’re entitled to.

Just something nice and steady that we can get our arms around. That'll do for now.

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For more information on my coaching and educational programs and services, sales tips, insights, or strategies, visit my website stevehoffacker.com or my other blog homesalesinsights.com. © Steve Hoffacker, 2008. All Rights Reserved.

30 comments • Steve Hoffacker - Real Estate Sales & Marketing Consulting and Strategies • December 16 2008 01:13PM