HEART TO HEART

MY YEAR SO FAR HOW ABOUT YOUR'S!

Where has the year gone?  Ok; Halloween's over, now Thanksgiving and here comes the big ones; Christmas, Hanuka and New Years' I have been asked many, many times "aren't you slow in the winter". No, we are not seasonal Realtors' we work all year. Sellers' and Buyers' have to move so we have to work and advertise and show their homes, we are full service realtors not like the one that is still holding those listings in bankruptcy court. (Foxtons) We have a new developement the Court warned all Realtors do not approach the Sellers' in any way they are assets of the bankrupt Foxtons'. Unless they expired while under the Court's protection. They have since been been sold to the highest bidder a holding company in the Maplewood area, actually Newark, there were 3,000 listings in New Jersey sold for $100,000 they will come back on the market perhaps by today. 

The interest rate has gone down slightly again. Have you heard the bubble burst and the Real Estate market has brought the worst down slide in prices in 20 years . The builders are willing to make a deal as they say down the shore, 'cut bait and run'.  I don't know where they are going, we're staying right here. New York is still booming, but understand the New York that is booming is just the City and closest boroughs' Brooklyn, Bronx, however, Queens has lots of foreclosures. See I remember all these years, they are closest and easiest access to New York City. Northern New Jersey, Jersey City, Hoboken and most of Bergen County are also still moving well. Jersey City became the financial district after September 11 the prices and rents in Hoboken are unreachable. It seems due to the oil business and the anticipation of the gas prices it put a big scare in everyone, even remotely thinking of the suburbs people did not want to commute. So the big cities prices went up and the rest of the State are still sliding down. That's what Donald Trump said.

My year started with emotional unrest, in my personal life I had back to back close losses. I was very down on everything. I didn't like this market nor this State. It made me stop and think how fortunate I am to be able to be actually respected and successful at what I do and love to do. I then stopped feeling sorry for myself; like I was alone. That was the key!. Then I did what I do best, list and sell, I still listen to the public and appreciate their opinion on myself. I had the horrible  task of sitting with many sellers' and explaining to them we must bring the price down now before it was too late. If we did not have the technology and all we have available now it would be impossible to know what neighborhood and even buyers' are being watched for price reductions. We have an office a very nice one but 86% of our business is from the Internet  also our signs, it is amazing. Even if someone does not remember where you were working they can find you by your name even part of your name I have one of those long ones. In New Jersey; Realtors' are not allowed to use "nicknames" or shorten their name the law reads and is enforced full names on everything. Thus, my name has to be shrunk to make the sign or the rider. Speaking of signs, my signs were out on property for so long my picture looked like I got hit with eggs, maybe I did. I have always been known as Kathy that is why I put it in the "middle". We are very visible people. Unlike other professions, what you see is what you get.

I was back on top of my game selling real estate with prices reduced looking good, I had more personal issues, my husband had triple bypass surgery. However, I came back from that to list and sell some more and now I am doing some commercial which is still moving even in this housing market. We do not have many hi-rise buildings but a few hotels and senior buildings in our larger townships and also along the turnpike and the Jersey Shore there are apartment buildings turned condo.  It keeps me busy.

I am thinking of buying and I may do it on the Internet  from start to finish my virtual deal, it would be fun. I am looking to buy a condo or maybe a house in Florida for investment and maybe myself, if this winter gets unbearable. See I am not afraid of the market going down more. I also have a few friends who are Agents in Florida, very experienced and saw this coming with the sub-prime lenders giving everyone loans. I personally didn't understand how some of the houses appraised for what they did! Very interesting business, sometimes.  

Not as may foreclosures as you might think or have heard about. Not here anyway. We are going to come back by next year, that is for sure, then the homes will start to increase in price by a very small percentage. Don't forget when we crashed 20 years ago, it took 10 years to come back with the crazy bubble I had a new home that never lost value but took 10 years to see a major increase.
 
I did notice a big difference as we came to the closing table this year. I was kissed and hugged and thanked a lot more then the past 9 booming years sometimes there was also tears, you know who you are, I miss you. I had a ruff time this year telling the sellers' "THAT market is not coming back anytime soon, if ever". I do believe they all know now and I hope they are willing to move on with the grace and dignity my sellers exhibited. You know I have great buyers' also. I am going to stick around for another year or two at least.  How about you!

Published Friday, November 02, 2007 7:49 PM by Kathy Stanavitch QSC,ABR,CDPE