Ken's Naperville Real Estate Blog : THE PERFECT STORM

THE PERFECT STORM

CNBC is on.  I don't know why I watch it anymore.  I guess it makes me laugh.

Oh, there was a time when I watched it professionally.  Back in my days as a stock broker and then as a stock trader.  I used to do probably 10 trades a day.  On average. 

Back then, the show gave me some companionship in a fairly lonely career.

I watch it now as more of a habit.  Yes, it is probably helpful.  I like to stay up to date, and with real estate in the news as much as it is, there is a lot of information provided. 

I guess it helps me understand what the OUTSIDE WORLD is thinking.  You know, the normal people.  I mean the non-realtors.

So I was watching a moment ago.  Oil up another $1.50 today.  Up to $118.

Two years ago it was a big deal when it cracked $50.

That's inflation.

So we are looking at $4 per gallon gas, home prices are down over the last two years, and home sales volume down 29.5% year over year. 

Lots of realtors hanging on hoping for better times.  Too many fighting over a shrinking pie.

Sellers scared to sell.  Buyers scared to buy.

THE PERFECT STORM for real estate agents.

Wow.  Is there anything other industry under more fire??

Well, I guess it could be worse.  I could drive a cab.

Ken

www.kensfeaturedhomes.com

 

Comment balloon 6 commentsKen Tracy • April 25 2008 09:45AM

Comments

Great analogy, Ken.  We are experiencing the culmination of a lot of truly negative things.  Now we need to figure a way around it, or through it, and not let it get us (and the rest of the world) down.

Posted by The Entire Team of Price & Company Professionals (Price & Company Realty) over 9 years ago

Or be a long haul trucker!

Posted by Laura Giannotta, Your Realtor Down the Shore! (Keller Williams Realty - Atlantic Shore ) over 9 years ago

Hey Ken,

As many of us have mentioned before network news such as MSNB, CNBC and others are all focusing national trends.  As we Realtors know, real estate is very localized.  What they're not noting is that in certain areas, such as ours in Phoenix, Las Vegas, and even parts of Florida, activity has picked up dramatically.  We three locations were the first in to the mess, and hit hardest by the correction.  Other areas like the S.F. Bay Area, Washington, and New York have just entered into the downturn and probably still have a little while to go before they see their markets pick up.

It's unfortunate that so many people pay such heed to network newscasts, but alas they do.  There's business out there for we Realtors.  It just takes more work to find nowadays.  But this market will weed out those Realtors who are really devoted to the profession from those who are just in it for a quick buck or something to do.

Hang in there.

Posted by Jerry Murphy, CRS, SRES, Anthem, Phoenix, and Scottsdale AZ Real Estate (Long Realty West Valley) over 9 years ago

Hi Jerry, Laura, and Christopher.

Thanks all for reading.  I am hanging in.  Real estate is local.

Locally, agents received 29.5% fewer paychecks in DuPage county last month (year over year).

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) over 9 years ago

Get out of the dark place.  Come into the light.  Turn off the TV and start participating in activities that lead to business. 

Work harder, work smarter!  Work more confidently!

Oh yeah...and get out of the dark place!

Posted by Ron Tarvin, Broker, Katy, Houston, Cypress 77450,77494,77095 (Luxury and New Construction in Katy & Cypress TX) over 9 years ago

Hi Ron.  Thanks again for reading!

When I get out of the dark place, you won't be able to stand me.

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) over 9 years ago

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