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At Keller Williams Family Reunion Real Estate Conference, the New Reality Sinks In!

Morning, folks!

Been a bit of a delay since my last post - hanging around with a bunch of Keller Williams Realtors for a few days is a bit distracting, you know!  Well, we'll soon all have time to catch up on lost sleep.

You know, it was just over two years ago when Dean's Team Chicago moved its company affiliation to  Keller Williams.  We came for the top training, an incredible Realtor Affiliate Network, and a "You Get By Giving" Culture that matches our own.

Times were very optimistic those two short years ago.  But, oh, how those times have changed.  The U.S. Real Estate market has "Shifted,"  as KW Founder, 51-year-old Gary Keller says.

Indeed, the numbers, both nationally and in Chicago, paint a bleak picture.  The story was reported in the Wall Street Journal, by reporters Kerry E. Grace and Matthew Cowley.  In the Chicago Metro Area, the S & P/Case-Shiller Price Index tumbled 14.3% between December, 2007 and December of last year.  Nationally, the U.S. National Home Price Index fell 18.3% during the same one year period.

Average Market Times are high.  House-for-Sale Inventories and Homes in Foreclosures have skyrocketed.  Consumer Confidence, according to the Conference Board, fell to its lowest level in history in January - a reading of 25.0, versus the December Consumer Confidence figure of 37.7.

Across the U.S., unemployment is expected to continue to surge - exceeding 10% in the hardest hit areas - perhaps far more.   Within Dean's Team Chicago we have a little saying - "If, on Friday, a worker feels he might be losing his job next Monday - he's not going to buy a new house over the weekend!"

Bleak, Indeed!

But there is some hope for optimism!

In areas of the country beaten down the hardest during the housing crisis - California, Florida, Arizona, Nevada - multiple, competing bids are common - albeit at fire sale prices!  Today, a buyer with adequate funds can buy far more house than he ever thought possible.  And the smart, "Buy and Hold" buyer is on track to earn incredible appreciation on his new-found, discounted home in years to come.

The whirlwind first month of the Obama Administration?  Agree or disagree with Mr. Obama's policies, it is clear he is not being a shrinking violet when it comes to trying to turn things around.  Infrastructure programs,   Initiatives to lower mortgage interest rates, or stem the rising tide of home foreclosure.   Obama would be the first to admit, however, that such a turnaround would not be fast, or pain free.

Houses CAN sell, you know!  It's just a matter about being aggressive on price.  Unfortunately, overpriced houses simply drive the fewer buyers in the market today to even cheaper, and plentiful, distressed-sale properties.  If the seller is motivated to sell, and prices their home below current market from the start - that house will sell.  Likely, sooner rather than later!

Keller Williams is a cutting edge Real Estate Company.  A profitable company still!  Great employee and co-worker attitude and morale.  Dollar volume production goals up. The famous KW Profit Share Program for participating agent-partners.

And, last year, KW became the Third Largest Real Estate Company in the U.S., surpassing better-known ReMax in agent count - with roughly 72,000 agents nationwide.

But the nearly 7,000 Keller Williams agents and brokers who gathered this year in Orlando FL remain concerned about the state of the real estate market today.  But every one of us is committed to getting our clients through this Shifting Market.

See our post today via BlogChicagoHomes.com.

DEAN & DEAN'S TEAM CHICAGO 

Comment balloon 6 commentsDean Moss • February 25 2009 06:03AM

Comments

We didn't make it to family reunion but heard the great news about KW now being #3. Thanks for the post Dean.

Posted by Dan and Amy Schuman, Luxury Home Specialists (Howard Hanna Real Estate Services) almost 10 years ago

Good for you!  I'll see you there next year.

Posted by Wendy Welborne-Kimery (Keller Williams-Lake Norman Mooresville,NC) almost 10 years ago

Glad to hear you enjoyed the Family Reunion!  Of course, the shift has happened, as Gary said, but we have to choose to adjust our business practices to accomodate the shift.  That's what will help us come out on the other side shining!

~Renae

Posted by Renae Bolton, I'm your Professional Real Estate Marketing VA! (Marketing 4 Realtors) almost 10 years ago

Very realistic views of the current market conditions.  Things have been bleak and slow but it will pick up!

Kathy

Posted by Kathy Toth, Ann Arbor Real Estate Experts - Kathy Toth Team (Ann Arbor Market Center Keller Williams) almost 10 years ago

Dean --  Great recap and yes we are pushing forward in a powerful manner.  Glad to be home, kinda need some rest....  Good to visit with you and get your perspective on the Chicago and national real estate market too.

List and Sell (Dean knows his stuff about Chicago homes)   Gary @ RentonHomeFinder.com

Posted by Gary McNinch, Broker, Renton WA Real Estate (Better Properties Real Estate) almost 10 years ago

Hi Dean,

The shift happened!

It has been a difficult two years since you posted this.

The ones still standing had to adjust.

Phil

Posted by Phil Leng, Phil Leng - Retired (Retired) almost 8 years ago

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