Ouch!

It's been a while since my last post. I've been busy... but not the type of busy I want to be. You see, the market has slowed down from its 3-yr buying frenzy and its shifted towards a buyer's market. The problem is the buyers (the few there are) are playing the "let's-wait-and-see-if-the-prices-will-fall-further" game. Ouch! In the Bay Area, prices have come down but I don't think it will drop as much as the buyers are hoping for. In the meantime, interest rates are predicted to go up rather than down, although for 8 straight weeks between August and September rates were taking a slow descent. So I've been busy looking for more buyers (just like all the other realtors) and trying to convince the two that I do have that the "wait-and-see" game may catch up with them via higher interest rates. So essentially, because of higher rates, they will be paying the same for a lower priced house. Go figure. Round and round the circle we go.....wish I could find a better way of staying busy.

Too many houses on the market, not enough buyers. This is what I call an "ouch" period for me. I got my license in November 2003, but did not start actively selling until January 2004. Although I only did about $30K in commission that year, it was quite fun because I didn't have to do much legwork looking for clients. Everyone wanted to buy real estate for fear of missing out on the boom so my clients "fell" on my lap. 2005 was another good year. 2006 is another story. I actually have to search for clients by mailing marketing materials (lots of it), doing the dreaded door knocking routine (ouch!), and networking. It is hard work being a commission-based worker. Since 2006 started, I've only closed 2 escrows. Ouch! It's a good thing that we have a dual-income family. The fact that my husband earns enough to support the family is a blessing. My income, as my husband puts it, is the "nice-to-have" income....not necessary, but we'll take the extra anyway. I hope to have a better 2007 and lots of "nice-to-have" income.