A New Year In A New Market

Brian Kinkade — Thu, 07 Jan 2010 05:59:14 +0000

In 2009, it was hard to drive through a neighborhood without seeing a multitude of for sale signs. Inventory was high and sales were low. Frustration was lurking in every aspect of real estate from banks to brokers. Now that the New Year is finally here, a new housing market seems to be upon us. So why was it so difficult to see coming?

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When I initially did my training as a real estate agent, I was taught to negotiate deals that ultimately ended in a win-win scenario. In 2009, win-win seemed rare with the majority of deals ending in win-lose with the seller usually on the losing end of the stick. Agents representing sellers have resorted to a “damage control” type of approach when presenting their clients with the only available offers. We as real estate agents tried to paint a sunny picture but the reality of a down market was starring us in the face. Needless to say, it wasn’t fun to be a real estate agent in 2009.

With customer and industry professionals alike looking for the light at the end of the tunnel a lot has been written over the past year as to when this would come to an end. All through 2009 real estate experts tried to predict the precise moment the real estate market would bottom out. In most cases it was difficult to forecast trends in either direction due to the injection of government stimulus money. Buyers looking to capitalize on the tax credit were only pushing one sector of real estate (first time home buyers) creating an unstable, almost false increases in sales. Sales trends were represented by peaks and valleys on sales charts across the nation. Now we are seeing other areas of real estate starting to incline (luxury, commercial, land, etc) which supports the theory that there is organic growth in the overall market.

Now in 2009 with the luxury of hindsight, I think it is safe to say that 2010 will surely be a new market. The new market that has had a cleansing of sorts bringing buyers and sellers a little closer in terms of expectation and realizations. Hopefully with better days ahead it will once again be fun to be a real estate agent.

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Lou Lynch is an internet technology professional with experience in web development, online marketing, search engine optimization, sales and social media marketing. He has a diverse background gained from experience in several levels of business ranging from start-up ventures to corporate management.

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A New Year In A New Market

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