"Thank you, Lord... Thank you - Thank you - Thank you"
Why all the "thank yous?" Because we have been selling some houses, that's why. The market may be in an "overall slump," yet there are segments that are showing signs of life. I used to be amused by the saying, "When life gives you lemons - make lemonade." Well now I'm a big believer.
A couple of years ago, we'd list and sell wonderful waterfront homes... $500,000 and up. The professional fees earned were generous. And believe me when I say "earned." Duking it out in a market flush with discounters (both fees and services) was tough. Not to mention orchestrating the chaos of multiple offers. It was crazy, but the rewards were significant.
I remember in 2005, there were no homes available under $200,000 in Palm Coast or Flagler Beach. Zero. None. Nada. Well guess what? Now there's a bunch. And I've gotta' tell you it's so satisfying to see folks who couldn't do this before, get to become homeowners. This past week, we helped a daughter/father team with some health issues buy a bank owned home for $152,000... (1850 sq.ft., 3BR/2BA/2Car, built in 2004, fenced... SWEET). Two years ago it would have been $249,900-ish. A doctor/investor from New York has purchased four properties in the past two months from us... Get this: all between $135,000 - $185,000, brand new from builders. The most gratifying?... two young fellows, 23 and 20 respectively, each buying a home for $140,000. One fresh out of college in a new job and the other with a new business venture. Man, I thought I was cool when I bought my first house over in Tampa at age 26, but these guys are 23 and 20. I'm impressed.
Anyway, we're sure thankful for this segment of the market right now. I've still got my database of Saltwater Canal Homes, Intracoastal Waterway Chalets, Oceanfront Villas, and a host of other McMansions in Hammock Dunes, Island Estates, Hammock Beach, etc., yet that niche is very quiet at present. I'll gladly work the big ticket items (most of my 22 year career has been there)... Yet it's the "Under $200K" market that now keeps caviar in the fridge and gas in the Ferrari :-)
2 comments:
Hi Frank! Glad to hear you're getting some activity and things are correcting. Looking back, my timing was pretty lucky I guess in '05. Talk to you soon.
Bill- I remember that you were a "good" seller. Remarkable, in that you were also a real estate agent. Most of us have a hard time practicing what we preach when we're on the hot seat. Most sentences begin with, "Yeah, I know, but..." You were patient and reasonable. I'm sensing that a "slowdown" in the San Diego market... really isn't??? Frank.
Post a Comment