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Purchase Price V Interest Rate

Today's buyer is facing a conundrum of epic proportions. It is obvious to most that in many areas of Southern California, prices have flattened out. Luxury sales have slowed dramatically. And, all indicators are that sometime in the near future, we will see a slight adjustment in home values. For that reason, many buyers are thinking that the wise move would be to hold off their purchase. And, most likely get the home they want for less money. And, it is true that historically this would have been a good strategy to employ. Today, I am not so sure. In fact, I am telling my friends and family that today, may be the very best time to buy. That there may not be better time to purchase in their lifetime. Let me explain. While it is true that home values are at near record highs for most of the South-land. It is also true that interest rates are still in the high three percent range for a thirty year fixed rate mortgage. And while property values may drop slightly sometime in the ...
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Bulk Sales Revisited

This past week, I made the trek to Sacramento for the California Association of REALTORS® business meetings. And once again the hot topic was the bulk sale proposal from Freddie and Fannie.  You may remember that a few months ago I told you about Lance Martin (REALTOR® extraordinaire) who almost single handedly led the leadership of CAR to make the decision to lobby against this program. While CAR has sent emissaries to Washington to address the issue, and spent copious amounts of money in print ads in an attempt to rally the public support in opposition of bulk sales in California, it appears that we could in fact be fighting a losing battle. I say this because of the view on the horizon (let me explain). Seven years ago, we were in an incredible real estate market, prices were rising quickly. The average buyer could afford an above average home. And, there was nothing but blue skies all around us. But on the horizon, the companies who had always been there when the mark...
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Communicating Your Value (Ninja Style)

As an industry, it seems that we have much to learn as it applies to the communication of our value proposition in the transaction. The ability to articulate that value proposition is in and of itself a success determiner. That being said, I recently took an abbreviated course built around the Ninja Selling System. And first, let me say that while I take a lot of trainings. And, find value in all of them. This was different. For the next two weeks, we will explore my takeaways from this event. As I mentioned, this week is all about the value that we bring to the seller side of our transactions. Our first responsibility to the seller is to make sure that they understand that we are not the determiner of value in the market place. Instead, market value is defined as the price a seller will sell for and, a buyer will agree to pay. Our role is to determine what price point will generate the most activity thereby, creating a competitive environment from which top value can be obtained...
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