Real Estate Ideas

Are we really in a declining market?  

Reading the newspapers these days can put anybody into a depression. Headlines tell about high foreclosure rates, subprime market woes and house values decreasing. Our local paper, the Ann Arbor News, runs these national articles almost daily. If you live in Michigan, this all appears as old news. We, as a state, have been mired in a recession for several years. Massive layoffs, homes losing value and politicians pointing fingers are the headlines we are accustomed to seeing. But I think Michigan is ahead of the curve and on the rebound. According to the graph found here, provided by the Affinity Valuation Group, the last two quarters show Ann Arbor specifically and Michigan in general trending upwards in both average sales price and sales volume. It looks like we hit bottom last spring and have begun a modest recovery.

If I was a home buyer waiting in the wings for the best prices, I would act now while the perception of falling prices is still out there and the upward trends are not being mentioned in the headlines.

I hate to sound like a grandmother¦.oh wait, I guess I am one, even though I’m only 44!

I started in the business when I was 23 years old. I met resistance from every broker in town except the one that ultimately hired me. They said I was too young to be in the business. I didn™t look like any other Realtor out there, either. The average Realtor was 55, drove a beige 4 door and belonged to the country club.  

I am glad to say that I proved them all wrong. I have succeeded in this business through many different market swings. If there is one thing that is constant, it is that the market changes. The key is to recognize the market changes early and move to adapt quickly.  

Realtors are changing, too. As I was once the exception, today I would look like the next up and coming. Techno comfortable agents are coming into the marketplace with business degrees in hand. The National Association of Realtors recognizes this trend and has been publishing an annual 30 under 30 article since 2000. Each year, the group is more impressive than the last. NAR™s recent nod to this group is the YPN Lounge: The online meeting place for REALTOR Magazine™s Young Professionals Network.  

The common thread for these successful young professionals is the early and easy adoption of new technologies. So the more things change, the more they stay the same. The key is to recognize the market changes early and move to adapt quickly, whether you are just out of college, or you are a grandmother.

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I plan to talk about market trends, business ideas, Ann Arbor happenings, and of course, all things green. Subscribe through the RSS feed and I™ll keep you posted.