Memorial Day Sunday Open House

What we would have done a year ago and what we'd do today are very different things.

For instance, I find myself sitting at an open house at a wonderful five bedroom custom Gambrel Colonial on Memorial Day Sunday. There are three problems with that statement, and each of them tells a story about the economic times in which we find ourselves.

First, open houses don't work. Period! Approximately 1% of all open houses result in the sale of that particular home. Sure, you can "fish for clients", but that's not my job at this open house. My fiduciary duties lie to my Seller and finding him the best Buyer I can through exposure. I've always hated open houses. They are usually done for two reasons: (1) to appease the Seller; and (2) to find Buyers who might buy something else. That's not my style on either count. I stick with the supportable facts. Open houses don't work. Period.

So, why am I sitting here blogging on Memrial Day Sunday at an open house? Because I don't know what else to do. After twenty-five years in this industry, I'm as frustrated as the next person as to what formula will work, which marketing tool will offer the best results, and what the Buyers will do next.

This is a great house! It should have sold months ago. The truth is that no homes have sold in this rpice range all year, and that tells me a lot. The middle class is squeezed beyond their means. They're afraid. They can't buy gas and food at the same time. Their savings are dwindling, and their mortgages are going up.

Above this mean, sales are brisk. Below it, Buyers are moving cautiously at best. Here in the middle where the heart of America lies, there is confusion and frustration.

So I'm sitting in this great house that's been on far too long by standards of the last few years thinking that maybe folks will stop by because they aren't going away (they can't afford the gas,) when the truth is all they want is to feel something comfortable and familiar...something warm that will make them smile...and I recognize that's being home on this sunny, warm Spring day.

I'll sit here because I'm hopeful. I'll sit here because I want to do everything I possibly can for my Seller...leave nothing undone, or unsaid, or untried.

Then I, too, want to just go home and have a hot dog and some potato salad, settle in, and feel the comfortable and familiar wrap around me like an heirloom quilt. Maybe it'll all get better tomorrow.

NAR/CRS Meetings Washington, DC

Hi there everyone,

Just back from Washington, DC from CRS governance meetings. Great trip!

It was most interesting to talk with other folks across the country. One of the most fascinating comments was that there are major markets experiencing "delayed spring turnaround". The activity they normally would have seen in February is now appearing, giving rise to a sense of optimism.

The east and west coasts are still the mopst dramatically affected by economic conditions and have seen the biggest changes. The heartland is doing okay! That's good news!

Let's hope we see that upswing soon on the North Shore! It's all coming this way!