Moving Forward...Always Forward

Moving Forward...Don't Look Back (edit/delete)

More often than not, we all love to play "Monday Morning Quarterback".  We love to rehash the plays that failed and those that were are highest moments of success.

And the Real Estate Market faces the same dilemna day in and day out.  When the market was crazy in 2004/2005, buyers and sellers saw the quick sales pace so differently.  The buyers moaned about the home they bought was there third or eighth offer and they finally got a house, wondering in the coming months if it was a good purchase or just bought because "it was the only one we could land".

The sellers estatic at their good fortune of a quick sale at a price they never thought they would get soon feel like they fumbled the ball.  Their old neighbor only three months time sells his home for $10,000 more!  "Oh, did we sell too quickly??  Did we leave money on the table?"  the seller might have wondered as he rehashed the events.

Neither party frequently retained the joy of the transaction by second guessing the result.  Not much is to be gained by this action but it continues.

Though interest rates are as low as they have been in 50 years, inventories lower than 2010 and market conditions in many areas of the country have improved, "Monday Morning Quarterbacks" abound.  Who hasn't heard some one moan about the impact of short sales and foreclosures on home values while buyers snap up these bargain(with the challenges involved) thus reducing the possible glut of depressed values!!!

Or the home owner with $50,000 equity wondering if just would have sold two years earlier when prices were "stronger" that doesn't realize he would have paid more for the house he purchased at that time.

Rather than looking in the rear view mirror, march ahead!!!   Realize in Real Estate as in life, the present reality is the "reality" we live in.  There is no such thing as the "New" Reality....it just  is.

If you are ready to move forward, knowing that is the only way to go, you are ready to take advantage of this market's current reality...the only one there is!!!

Bryan Cerny, Associate Broker, GRI, ABR, SRES, SFR
Rose &Womble Realty, Chesapeake, VA
Licensed in VA & NC

 

Who is Really on Top???

Sometimes one hears so many varying views regarding the real estate market in Hampton Roads.  One common topic of discussion is what real estate firm is growing or just going along.

I realize this can be an important decision maker for a buyer or seller as either may really like the Realtor that they meet but wonder what type of support and training that is behind them.  I have heard it said that it is like buying a P.C. from Sony, Dell or Levano that you know has tech support that knows what it is doing versus having some small shop put together a computer together and you don't know if they will be around.

Recently, REIN(Real Estate Information Network) put out the final 2009 Settled Sales for Southside Hampton Roads.  Not surprisingly, Rose & Womble Realty(my company) finished #1 in Sales and Market Share....$62 million ahead of W.E. Wood(a strong competitor) even though they have 16 offices and R&W has 9 offices on the southside.   That was an addition $12million over our market in 2008!

Unfortunatly, Prudential Town(combintion of GSH and Prudential in 2009) lost 15.2% market share and $167 million of volume.  Long & Foster saw a 5% market slide; ReMax lost 12.4% market share and 18% in sales; Coldwell Banker suffered 21.7% sales decline!  A couple of the newer companies to the market with a presence elsewhere in the country, Keller Wiliams and Exit, didn't even make the top 10 companies but unfortunately not all their offices report the sales to REIN...don't know why???  

It is an unfortunate but true axiom of business the strong get stronger and it will always come from the competition.  Especially in markets that sales have declined from a recent high time.  And you don't have to be the brightest match in the box to know Hampton Roads has had a solid real estate market in 2008 and 2009 but wasn't up to the level of the 2002-2005 market.

I feel very fortunate to be aligned with a top flight company and to be near the top of their leader board.

God is Good!!!!