• Real Estate Is Local: Stop your whining about the real estate market
    By LAUREN HUGHES | June 27,2009
     

    A good real estate broker usually has a lot of positive energy and has experienced the ups and downs of the real estate cycle over the years and will know how to successfully navigate through challenging times. Everyone, and I mean everyone, has heard enough about how times are tough.

    Did you ever notice that if you are around a negative person or situation long enough you start becoming negative?

    It is extremely critical to select a broker who has a positive approach to real estate and life in general. Surround yourself with positive energy and I guarantee you positive things will start to happen.

    An experienced broker has succeeded over the years because they're very good at helping people envision how happy they will be at selling or buying a property.

    It is important to start getting our confidence back because that is the factor that starts to turn things around. Select an agent who has a lot of stamina because people with energy are always looking for a place to use their energy.

    They have the ability to think ahead and think positively to see an opportunity. It's a certain mindset that sets one broker apart from another.

    The real estate market is offering a lot of opportunities right now and I've said it a thousand times, now is the time to buy with all of the incentives out there.

    Most of the people I know are selling their properties because they want to buy another property, move to a different area, or position themselves for retirement. If they are buying another property they are investing in a time where they will eventually realize a substantial amount of equity once market conditions improve.

    Homeownership still pays!

    According to the National Association of Realtors, Federal Finance Agency and Haver Analytics, owning a home is the smartest financial decision a consumer could make. In comparison to renters, home owners have greater household wealth. Owners' wealth exceeds that of renters by a factor of 50 to 1 with a median of $205,200 versus a median of $4,200. The main wealth difference between the two is home equity.

    Let's take a minute to think about what this statement is actually saying. Yes prices are down from two years ago but I'll bet that even if you price your home at today's market prices you still are making out pretty well from when you first purchased the property. And let's not forget about a couple of important factors: One, you have enjoyed living there all of those years, and two, you probably have also used your house for a nice tax-liability reduction over the years.

    To all of the lucky purchasers that are looking to buy a home in these prime plus times please remember a lot of the properties that are on the market have already made their price reductions from two years ago and are priced very fairly.

    If you had tried to time the best time to buy a house you could not have timed it better than right now.

    According to the NAR there are a handful of struggling markets but the doom and gloom ends there. The NAR tracked 150 markets and people that have owned their homes for a few years have uniformly enjoyed strong equity gains despite the recent downturn. Now why don't we read this in the market material that comes in front of us? Like I said earlier it is time to start thinking positive, get our confidence up and let's not forget that Vermont is a beautiful place to call home.

    I'd like to end my article with a thought from one of author's Jon Gordon's writings. "Tell yourself a positive story. Life is a story. The story we tell ourselves and the role we play in that story determines the quality and direction of our life."

    The best real estate professionals are able to overcome adversity by telling themselves a more positive story than the rest. Instead of a drama or a horror movie, we define our lives as an inspirational tale. Instead of being the victim, we see ourselves as a fighter. We may not be able to control market conditions, but we can influence the outcome of our story.

    Lauren Hughes is the principal broker at Century 21 Premiere Properties — feel free to call with questions at 775-5565 ext. 12, or e-mail Lhughes995@aol.com. On the Web: www.C21ppvt.com

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