When the news broke that Grand Rapids was the 5th most affordable city in the United States, you would have thought there would be cheering and dancing in the streets.  After all, isn't affordability a great thing in the era of recession fears and increasingly dire economic news?  

Well, if there was such thing as negative miracles, somehow this normally great news is being apprehended by the boogie man...fear of the unknown.  News reports indicate that potential buyers fearful of further declines in the market are determining they won't buy now even though prices haven't been this low for more than 20 years!  Wow!

Well, I'm glad that I'm living in a parallel universe.  These past two weeks have been some of busiest we've had at Audu Real Estate.  We're taking buyers out and some of the deals that we're seeing are so good that we're being told that we're offer #2 or #3.  Today, I fielded several requests for home showings on homes we have listed!

When opportunity knocks, we have determined that we don't want to be sleeping.  We've found that it's better to open the door because often opportunity doesn't stick around, it keeps on trudging towards the next likely candidate.  What FDR said remains true... 'the only thing to fear is fear itself.'

So, if you're a homeowner who would like to sell your home or a home buyer who wants to check out what the incredible options are right now....give us a call or e-mail us at info@auduhomes.com. We're eager to be of service.

Click here to pre-view homes

Copyright 2009  Audu Real Estate  All Rights Reserved

Grand Rapids, MI 2009...

Homeowners in Grand Rapids, MI have witnessed a startling increase in the rates of homes sold through foreclosure sales and short sales.  In the early portion of 2007, the percentage of home sales that were 'crisis sales' hovered between 14% - 16%. 

But by the end of 2008 and into early 2009 the numbers had escalated dramatically to account for over 70% of the homes sold by the members of the Grand Rapids Association of Realtors Board.

Selling a home within this type of environment requires a different approach. 

Although marketing a home has never been easy, the challenges of the current crisis require a firm resolve and focus to do whatever it takes to succeed. 

The Truth about this Market...

A very different mind set is required...that is IF you intend to sell your home within the next 12 months.  Now, one important note:  this market is not for everyone.  If you have recently purchased a home or don't have a compelling need to move such as a change in life circumstances or employment, this may NOT be your market.

However, there are some things which you can do to enable a more efficient process if you have to sell your home for less than what you owe on the mortgage aka as a Short Sale.  Here they are:

Document your financial hardship...

You will be required to give a fairly detailed accounting of your financial condition which will include statements from all bank accounts, investment accounts, tax records, a credit report, and a letter documenting your situation.  Be prepared to submit this documentation in an organized fashion and include a letter/statement which authorizes the bank to speak to the appropriate professionals such as your real estate broker if your home is listed.

Set the Stage...

Just because your home is being sold under less than ideal circumstances does not mean that it should be portrayed this way in your marketing efforts.  The goal of a short sale should be to sell your home.  Remember that your home will be competing with potentially hundreds or thousands of homes. 

Unless a home buyer falls in love with your home, you won't even have the chance of negotiating a short sale. You may also inadvertently attract even lower offers from buyers who smell desperation within the mess.  It should also be noted that home buyers are often wary of the long drawn out process that the negotiation of a short sale requires so make it worth their while to wait!

Price to Compete!

One of the most interesting points during my listing presentation is when I show home owners a map of just how many homes are listed or have sold within their community within the past year.  Most people are more than a little surprised.

There's a lot of activity happening in the real estate market right now and you owe it to yourself to have an accurate understanding of your neighborhood market.  Run the other way if an agent shows up at your door to take your listing in hand without documenting in detail WHY and HOW he/she has arrived at a pricing strategy and listing price.

Detach the Sentiment...

Proper pricing and subsequent adjustments are critical if you are to succeed.  A market rife with foreclosures sometimes makes for a 'moving target' when it comes to determining the right price.  Be prepared to make adjustments quickly to reflect market realities which will include banks unloading more of their extensive foreclosure inventory in 2009.  Emotional attachment about why this 'awful situation' should not apply to your particular home will not serve you well when you're dealing with buyers who are primarily looking at the bottom line. 

On the other hand...a good deal cannot be hidden!  We're seeing homes priced competitively getting several bids and sometimes selling above the listing price.  These homeowners took the time to understand their market and to respond accordingly.  My counsel if you're determined to Sell Your Home...is to take note.

Click here for Related Short Sale Articles:

Copyright 2009  Audu Real Estate  All Rights Reserved

I checked into my Twitter account this morning just in time to see a notification about a most unusual news conference.  The Israeli consulate was going to hold it's first Citizen News Conference on Twitter and was inviting the citizens of the World to ask questions about the ongoing crisis in the Gaza Strip. 

According to their site/twitter profile:

"twitter is one of the places a discussion was held, and we wanted to join in and participate in it. #AskIsrael"

I'm monitoring the discussion.  Hundreds of new subscribers have joined since the conference began.  Re-tweets are spreading the dialog rapidly across the Internet.  There are so many questions, coming so fast that they are asking that folks be patient as they struggle to keep up with respones.

Fascinating...

Is this the future?  World governments using online social media to take the public pulse? If you've got a Twitter account, you can watch this amazing event for yourself or input #AskIsrael to review the discussion.

image  courtesy of carrot creative's photostream on flickr

Copyright 2008  Audu Real Estate  All Rights Reserved

2009 is the year to take your knowledge to the next level!  Having the right information at the right time can be the difference between success and failure. Motivated real estate agents understand that the  challenges ahead carry unique opportunities as well.  What you know and When you know it will be as important as What you do in the year ahead! 

Education is rapidly emerging as a top priorty for real estate professionals because of the enormous challenges in our industry and the business community at large. 

If you're a real estate blogger, you've got a head start.  The knowledge shared on the blogosphere easily exceeds what is available through many local brokerages. 

But, it is always good to supplement online information with good books. Throughout the year, I enjoy reading a variety of books. 

I'd like to share with your some books which have been especially helpful to me.  If they're not on your reading list, you might check them out for 2009!  I've broken up my selections by general subject area, so skip around and peruse at your browsing pleasure. :)

Blogging & Social Media:

Blogging with Moxie by Jeolle Reeder & Katherine Scoleri

This fun book is chock full of helpful tips on blogging.  It's written by two ladies who indicate that they're dishing up the "IT Girl's Guide" to blogging, but there really is a lot for everyone..guys & gals in this entertaining and well written book. I'd especially recommend this book for newbie bloggers...but I definitely picked up some useful tips too.

ProBlogger Secrets for Blogging Your Way to a Six-Figure Income by Darren Rowse and Christ Garrett

If you're been blogging for a while or are really serious about blogging for business..that is making your blog pay you as a business investment, I'd highly recommend taking a look at this book.  I've just recently picked it and am working my way through it...gives you a lot to think about with practical tips and insights.

Trend Setters:

Grown Up Digital by Don Tapscott

The Net Generation (defined as those b/w 11-30) is changing the world as we know it dramatically.  It is imperative that real estate professionals understand this generation and the way in which they are re-shaping the context and methods of communication.  If you don't think that you will be affected, your model may already be irrelevant and you're simply unaware...

Nextville by Barbara Corcoran

On the other end of the continuum is Nextville by Barbara Corcoran.  This book talks about the trends impacting another large demographic...baby boomers and their retirement plans.  Written by someone who has had her hand on the pulse of what makes the real estate market tick, I appreciated her insights and engaging way of communicating where she thinks the values and movements of retirees will be trending in the future.

A Whole New Mind by Daniel H. Pink

This book was given to me as a gift when it first came out in 2006.  Since then, I've bought several copies which I've given out as gifts.  It's just that good.  Pink's ideas about the paradigm shift which is occurring and will necessitate that we evaluate our problems and decisions differently is fascinating.  He uses examples for the world of storytelling, design and symphony to engage you in re-thinking your world.

Mortgage Crisis & Financial Markets:

When Markets Collide by Mohamed El-Erian

This is an interesting book to read if you'd like to understand more of what is happening in the world of global investing.  As it became painfully apparent this year, what happens in this world can dramtically impact our lives as real estate professionals.

Confessions of a Subprime Lender by Richard Bitner

Reading this book was an eye opener.  Enough said.

Consumeritis:

Affluenza by John DeGraaf, David Wann, Thomas H. Naylor

This book really made me think about what drives us to buy to live.  It's a thoughtful book which will cause you to examine your live or more simply put, what surrounds your life.  It's really a book about the stuff of our lives and why this has crippled us as we have continued to strive for more & more & more...

Deep Economy by Bill McKibben

In the real estate industry, we're seeing a shifting focus towards neighborhoods and communities.  Deep Economy explores how local communities and grassroots movements can be mutually beneficial for society and business and sustainable environmentally.  A thought provoking read...

Inspiration & Spirituality:

Lifetime Guarantee by Bill Gillham

I read this book in my early 20's.  It remains a favorite as one of the books which most impacted my journey of faith.

The Spiritual Man by Watchman Nee

This three volume series (bound into one book) is one of the most profound spiritual books that I have ever read.  It's not a quick nor easy read.  It took me a year to read it the first time and I've pondered on the depth of truth revealed many times.  Nee's expose of the inner life of man is one of the most exhaustive and exquisitely mapped guides that I've ever encountered.

The War of Art by Steven Pressfield

This book is about the perils of Resistance.  We read through much of it as a group this year.  It forced us to look at the myriad of clever obstacles that we were continually putting in our own paths.  As we enter another year, I would highly recommend this book to jump start your thinking in the right direction.

Just for Fun...

The Good Husband of Zebra Drive & all books in the No. 1 Ladies Detective Agency Series by Alexander McCall Smith

I love this series!  The story line encompasses the life of an African lady detective whose wisdom and wit have a way of leading her to the root of many of the problems which arrive in her office.  Smith writes with such humor and insight that I love become immersed in the whatever the No. 1 Ladies Detective, Precious Ramotswe is involved in at any given moment.   

At Audu Real Estate, we encourage our agents to invest in their education.  In fact we believe in this so strongly, the company provides qualifying agents with a generous credit towards educational classes on a yearly basis.  An investment in knowledge is an investment in your future welfare.  With the exception of the series, every single book on this list could be obtained for an investment of less than $150. 

Have you read a book which you'd like to recommend?  Please feel free to share it or your list!

This weeks' Grand Rapids Association of Realtors® e-mail newsletter announced the creation of a new entity...the President's Blog.  2009 incoming president, Greg Carlson wrote a short memo to the 2,200+ member association inviting the members of the association to participate in a "conversation' with him, the Board of Directors and the staff.

According to the communique...

"The blog will enable Greg to provide important GRAR updates and news regarding industry issues and trends.  More importantly, it will enable members to provide comments, feedback, and suggestions directly to Greg.  That feedback will then be conveyed to the Board of Directors and taken into consideration in the decision making processes."

I think this is marvelous! 

I'm thrilled to see our association making good use of the open forum that blogs provide to respond to member concerns and create a unfiltered avenue of communication to the leaders of the association.  It's definitely a change whose time has come!

Greg's willingness to be available to the membership through this forum is the sort of 'out of the box' thinking that leaders within our profession need to cultivate.  To date, most of the real estate blogging activity in the industry has been a conversation between agents and/or members of the public.  I think it's time, we used the creativity unleashed by this powerful tool to enable a conversation within our association leadership and it's members about the future they'd like to create. 

I'm curious...are you aware of any other Realtor® Boards/Associations that are using a blog to facilitate a conversation between its members?  If you're aware of one or are a part of one, could you post a comment.  I'm sure Greg and the members of the Grand Rapids Association of Realtors would welcome your insights.  Thanks.

Copyright 2008 Audu Real Estate  All Rights Reserved