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Archive for December, 2010

 

 

Myles & Mom... photo courtesy of Roger Brown

 

That was the beginning of a conversation that I had with an acquaintance while I was attending a very fun holiday party last Saturday night. I asked her right away why she would think that?  She parroted back to me all of the media doom and gloom she has either read about or heard, and then she told me she has SEVERAL friends who are Realtors (Don’t we all???) who are miserable. We compared notes for a little while, and she moved on. (Thankfully!)  Sure, it’s been brutal for the last couple of years, but that’s probably the case for many, many industries out there, not just real-estate. The airlines, the auto industry, the finance world, health care providers, retailers and small businesses across the land, just to name a few. It didn’t take a whole lot of time for me to re-assure myself of all the reasons I am so thankful for my job…. Here are a few:

  • I love a good challenge! Marketing these homes and getting them under contract, and keeping them that way until the closing table is in clear sight, gives me a little adrenaline rush and a sense of pride!
  • I have watched colleagues and whole offices leave my market area, belly up, for the last 3 years… I am proud to still be here, leading an amazing group of Realtors in my office, doing more business than ever before. Our tiny office of 12 agents currently is 5th in volume in Geneva for 2010! The companies ahead of us have no less than 80 agents, each! I LOVE IT!
  • I guess I also like to be appreciated… the sense of accomplishment and thankfulness (from MOST of my clients) makes me feel good! I love a great “thank you” card or a new testimonial for my website….. if folks are impressed enough with your service to take a little time to put it in writing, in this busy world, it makes you feel special.
  • My reputation in the community is growing. I love to share my information and my market knowledge with anybody who asks…. it’s no secret! Those who own real-estate want to know how the market is faring, and what’s going on in their neighborhood….. I’ve seen thousands and thousands of properties in the last 22 years, and I love to compare notes about my observations!
  • I am honored, constantly, by those who choose to hire me for what will probably big one of the biggest transactions, financially, in their lives. Honored by their trust in me and their belief that I will get it done for them.
  • I love to find another way to get something done… this crazy market presents new problems to be solved CONTINUALLY! I enjoy being able to solve them, whatever they are, and move on. When I was business partners with Terra Ayres, I think I drove her nuts! There were times when the logical thing to do would be to cut my losses and move on, but I couldn’t stand walking away from a listing that was in the throes of foreclosure, or a buyer who had “analysis paralysis“! Those transactions were the most frustrating AND the most satisfying, for some weird reason.
  • I have enjoyed a career that is so flexible I can be home with the kids when I want to or need to… take a vacation when I want to…. skip work for the day to head off to a garden walk at the last minute…
  • I have had the luxury of meeting so MANY, MANY great people over the years, sheerly because of my job.
  • Every single listing is DIFFERENT… different sellers, different strategies, different marketing, different buyers, different buyer’s agents… DIFFERENT.

So I guess I don’t hate my job… occasionally, yes, it has its’ moments. Maybe it’s the time of year, or maybe it’s really thankfulness in general, but whatever it is I am still glad to be a part of it!

 

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The chief indicator that you have arrived at the best real estate firm in Geneva!

Monday Morning Market….

Happy holidays everyone! The season is on us…. Really on us! It’s my hope that all of my readers found many, many things to be thankful for last Thursday! Actually, not just for last Thursday but for every day.

I thought I would list a few of the things that I am thankful for here, just to see if any of you feel the same! I am thankful for 3 amazing children who make me laugh every single day and motivate me to do the best I can do in order to lead them by example. I am thankful for a husband who LOVES to hear about the follies of selling real estate and owning a small business! I am eternally thankful for my little group of cronies(you know who you are) who listen to my complaints/jokes/daily observations and still answer my calls every day!  I am thankful for my sister/brother in law and darling niece who live only 2 minutes from my front door. I am thankful for every single client who has given me the opportunity to be a part of their real-estate transaction. Lastly, I am thankful to own a company that is made up of an amazing team of Realtors whose company I enjoy and respect every day, in a town that I enjoy living in 365 days a year!

Now, on to the numbers…. I have been swamped with business for the last few months, so I apologize for the sabbatical! Getting back to the numbers for the last 7 days in Geneva, here goes-

Active listings= 206 in number, from $115,000 to $1,795,000

Properties under contract in last 7 days= 2, from $329,900 to $395,000

Price reductions= 5 in number, with the greatest reduction going from $499,000 to $479,000

Closings  in the last 7 days in Geneva= …… ZERO………..

  • So far, as of Monday  morning at 10 am or so, there have been 262 closings in Geneva in 2010. Closed prices ranging from $125,000 to $1,175,000. Approximately 10% of the closings reported in the MLSNI for this year were distressed sales, meaning “short sales” or “foreclosures.” This is actually an improvement from 2009, in my opinion. In 2009, there were 259 closings for single family homes, ranging in price from $84,000 to $2,708,754.

The appraisal system continues to be broken and it continually hampers our ability to do business and sell real estate. I believe that if more Americans knew how the banking/lending  system is holding the housing market hostage, there would probably be another Tea Party in the making.

There is still a great amount of opportunity for buyers! The interest rates are at an historic low, and property values are ripe for the picking. There are opportunities out there that may not appear to be the greatest “deal” in the market, but I would consider them “opportunities”  because they are available. Period.

While researching a property for a client last week, I looked at 3 properties that are currently on the market that turned down offers they received when originally on the market….Looking back, I am certain the sellers of those properties WISH they could turn back the clock!! There is too much inventory, too much risk, and not enough qualified buyers, for almost any seller in this market to turn down a buyer.

I will be making a greater effort to keep my blog up to date. It’s one of the activities that I really enjoy, but I seem to have been unable to make it a priority the last couple of months. I am trying to get back to it as best as I can.

As always, if you need assistance with anything real-estate related, please let me know. Even if it’s just a short consultation or a strategy question… I would be delighted to help you, or your neighbors/co workers/friends, in any way that I can.

If you enjoyed this blog post, and would like all posts to be delivered automatically to your “inbox,” please use the SUBSCRIBE button on my blog! Thanks for reading, and have a great week~

THINK SOLD!

Teresa Keenan

www.stonetowerproperties.com and www.thinksold.net

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