Weather vs the Real Estate Community – The Ultimate Challenge Over Adversity

Well there can be no doubt that the real estate community has taken a pounding from the turn of events surrounding the bubble burst of the subprime lending fallout. The economics of reality is a monumental barrier to over come. Luckily, most real estate agents, consultants and professionals are tough as nails and they are facing these challenges head on. (Apply directly to the forehead).

But, the economics of real estate, as serious as they are currently is not the only obstacle to over come, indeed, the Weather can also play havoc on the real estate community. 2008 has so far been a pretty-tough winter, no not the worst, but hard enough. The weather issues in summer were not easy either, with lack of rain causing droughts in many regions – it makes selling homes, just that much tougher. After all, who wants to buy a home with a dead lawn and dying landscaping.

Now, in Winter it is like a double whammy, glad to have the snow and rain, but, it would be much better if it were spread out a bit. Trying to show homes when it is 2 degrees above zero isn’t easy and if you get stuck out there in the snow, it could prove fatal. An unexpected freeze in a normally warm region can cause havoc for homes, pipes and landscaping. All this just makes a real estate person’s job that much harder, at a time when it sure would be nice to get a break from all these challenges. Something to contemplate in 2008.

What is the Effect of the Current Economy on the Real Estate Market?

The real estate market is a part of the economy. Thus, what happens to it affects the economy too. Likewise, the events in the economy also affect the real estate industry. The economy faced a lot of challenges in the recent years. Consequently, the real estate realm also faced the same ordeal. This proves that there is indeed a significant relationship between the two.

The state of the economy definitely affects the industry. There have been positive effects in the past. People tend to shift their investment to the real estate when the economy is heading a downturn. Most will pull out their stock investments because they are uncertain of what will happen to the economy. Real estate on the other hand seems to be a more tangible asset that can safeguard their wealth.

However, all of that changed in the recent financial challenges faced by the country. The real estate industry has been gravely affected. This is due to the many events that ultimately led a lot of homeowners to give up their property.

How did this happen? This did not happen overnight. It took a series of events. Although many are pointing fingers, everyone contributed to how the economy fell. Many consumers relied on their credit card, spending more than their means. Individuals are not the only ones doing this. Companies are making unwise choices as well. Many thrive on credits, and it seems to work for a while. However, the unthinkable happened. The financial assets of the leading companies depleted, even to the point of bankruptcy and the first casualties, the employees.

Since many are losing their jobs, many are unable to pay their credit cards as well. In addition to that, many fail to settle their mortgage on time. The foreclosure rate skyrocketed and this started a meltdown in the industry. The number of foreclosed properties pulled the value of the properties down. In addition to that, the number of sellers in the market increased. This is accompanied by the decrease of the number of buyers in the market.

The number of buyers is low for various reasons. One is the lack of confidence that people have in the economy. The consumers want to hold on to their finances because they are uncertain of what will happen to the market. Additionally, many are not thinking about purchasing a home because of the unemployment rate. Many are saving because they fear that they will lose their job anytime soon.

There are also some positive changes brought by the crash in the economy. It has paved way for the property rentals to boom. More and more occupants are looking for a home to rent. This opened great opportunities to investors.

There were also major changes as to the procedure of the loan application and home purchase. New provisions were implemented to protect the consumers better. There were various incentives given out to encourage more individuals to purchase a home.

Today, the economy and the real estate industry are showing signs of recovery. Although they have not fully recovered, they are showing promising improvements.

Live Real Estate Events – My Take

Live Real Estate Event… Free with the Purchase of our Product, is what the email says. And you think to yourself, “I could use more training, and this sounds like a great deal”. So you bought the product and eagerly awaited details of your impending Live Event.

You get the date, time, and location. Book your flight, reserve your hotel room, line up the necessary childcare, and perhaps get your spouse on board. The date arrives, and you’re on your way; Woohoo! You arrive, dump your bags in your hotel room, and hustle to the venue with notebook in hand, ready and eager to learn. The first speaker kicks off the event and you are about to jump out of your seat with excitement. You listen attentively for all the details that will help get your business off the ground. Paying attention for any new bits of wisdom to help get you going in the right direction. OK, maybe I’ll write that one down. What was it again? Well… maybe with the next speaker. And after being informed, cajoled, and herded to the back of the room; you see that the speaker has many products on display you can purchase for only $1,995.00 today. Hmmmm.

Oh well, on to the next Speaker. They manage their way through the next cleverly-crafted talk and come up with yet another product for sell. By the end of this seminar, you are left wondering why you flew all the way out here when you could have just listened to a webinar and bought their products, with less hassle.

Does this sound familiar to anyone? Now, I am not writing this as a slam against anyone who holds a seminar, but as the real life experience of so many of us in this industry, including myself. And realizing these types of scenarios are very common, there actually is some irreplaceable value in going to a live event, with real, live people. In this age of the internet, Facebook, Skype, Twitter, conference calls and every Virtual Way of meeting and disseminating information known to man (all of which personally I am a fan of) there still is no way to replace meeting face to face, in person and in real time.

Yes, attending a live real estate event takes a lot of effort and coordinating of schedules, time off work for some, childcare coordinating for others, (ask me how I did a recent event with my kids) and of course, money. Here is the thing. If you actually go to an Event that provides Real Value, as opposed to a Sell–A–Thon, it is worth every bit of cash, effort, coordinating, sweet talking the Boss or Spouse, you can manage. The Momentum it builds is priceless. The way that it can open your mind to new or renewed goals, expand your horizons and help you build a team is like nothing else.

Recently, I attended a 2-day Live Event in Orlando with a company I was doing my due diligence on. There were several speakers and a lot of great information provided. The cost: Free. Also, I could not find a course at the Back of the Room to save my life. And to top it off, there was even a little Karaoke thrown in on Saturday night for good measure and all around fun.

Now what I left there with was more than just the great information presented. I left this event with a clear vision of how to grow my business. What direction to take it, how to do it, and finally knowing I would not be alone! There were plenty of people who would support my efforts, and in turn, folks whose efforts I would support.

Was this worth all the hassle getting down to Orlando? You bet it was. Best live event I ever attended. And luckily for everybody there, this won’t be the last one these folks conduct. Trust me when I say this, “You do not want to miss an event held by this community.” I will be back as many times as I can get there, it was that valuable to my overall business.