Is The Real Estate Market Turning A Corner?

Our real estate team is seeing frequent multiple offers, well priced homes in escrow within a week or two, and level inventory. Is the market turning a corner? Where will we be in six months or a year? There is no way to predict! That is the very reason I was compelled to write this article. I want to caution all buyers and sellers to be weary of trying to "Time the market!"

There is no scientific way to do it. Why? Probably because the market cycles are not naturally occurring economic fluctuations. They happen because of corporate greed, elected officials serving special interests instead of constituents, and the media spin machine controlled by the same corporations feeding us misinformation. But that's a whole other matter.

It's important to minimize emotions when making choices about buying or selling real estate, or anything else for that matter. Evaluate your circumstances with complete honesty and choose based on facts and not on emotional attachments.

First, answer the why! Why are you considering to buy or sell? Is it a job transfer? Economic hardship? Change in marital status? Write answers to these questions down and analyze them.

Next, consider what options you have! If you are a buyer, consider it may never be this good to buy again during our lifetime. Prices are down, rates are at near forty year lows, and most sellers that must sell are ready to deal. If you are selling, consider your move. Are you buying elsewhere? If so, don't worry about selling low. You will likely buy even lower and have a new lower tax basis on your new home.

Lastly, get answers from the experts. Contact local neighborhood REALTORS and discuss your options. Most of my more professional colleagues will gladly consult with you without obligation and guide you through your decision making process. Our team would love the opportunity to answer your questions and provide information to assist whether you are buying or selling.

I wanted my first blog in this community to be special and inspiring. After becoming familiar with Joeann Fossland, Founder of the Web Women Giving Circle, a group of real estate professionals who are raising money for CARE, I chose to conduct an interview with her and post it on my blog. Joeann is a personal and business coach, an international speaker, and a guest blogger who is one of the Top Ten Women Real Estate Bloggers in the country. I asked her to share regarding her work and the cause that inspires her the most.

               JEERO:  When and why did you begin to work for women’s causes?

    JOEANN:    I was a single mom on welfare in the 70's and got a real appreciation for how difficult it can be to make a living and be a great mom. When I was able to become self sufficient again, this was an area that remained close to my heart and has had my interest and support.

       JEERO:  Why did you choose women’s charities specifically?

JOEANN:    As I looked around, I saw many opportunities that would make life better for women and children. For instance, in 1992, when the Tucson Association of Realtors founded The Hearth Foundation, a charity to support homeless women and children, I was a founding member and later President. I am proud of the work we have done over the past 13 years to help hundreds of homeless women with children find homes and jobs and be able to take care of their children. This CARE Challenge also touched me because I traveled in South America in 1978 and 1988 and saw first hand unbelievable poverty. In spite of this, the spirit of the women and children was bright. I am excited that the real estate community is taking  on impacting the world in a way to help people in having food and homes and a way of making a living.

           JEERO:   You are a very active person in work and in several communities. How do you manage your time?

JOEANN:   One of the best pieces of advice I got when I hired my first coach was to pare down my responsibilities to 3. At the time, I was volunteering and working, being a Mom and had 10 responsibilities and was stressed. By saying NO to many opportunities, I have time to give a lot of focus to the ones I am saying yes to. The distinction my coach shared was whether something was an opportunity or distraction. I love that! Also, realizing many things I might want to do will be there later....So each year, I prioritize and then say no to the rest. 

            JEERO:       The real estate market and environment have changed. What adjustments, if any, have you made?

JOEANN:  Since I work mostly speaking and coaching these days, the adjustments I have made aren't as important as what my clients have had to do. It is a very competitive market and I think the most important adjustment is between the ears. It is similar to what I describes above:

• Let go of clients that aren't your ideal client from the standpoint of temperament or needs (of out your expertise, area or niche).  

• Know your talents and keep your standards consistent.

• Develop additional, creative ways of providing value.

• Consider a menu of services or other models that allow you to get paid for what you do and not have it based on results.

            JEERO:       If you can change one thing about human nature, what would that be?

JOEANN:   Wow...I am not sure it would be a change, more an expanding of awareness: I would like for people to have less fear and be able to trust themselves, knowing that they are capable of living a life they love without struggle.