Kate Elim, Lake Anna Real Estate Specialist

Will you still be in real estate in 2011?  This is a tough question and one that probably more than a few  are asking themselves.

Although there has been some stabilization in the market in some areas the accumulative affect of the past few years leave many, that once made a "living" in real estate, now no longer able to.  For some there comes a time when they can no longer avoid the reality of their situation.  Savings are gone, debts have piled up, and business has virtually dried up.  For others the future looks a bit brighter.

Which category do you fit in and how do you propose to face 2011?

With many positions today there is the specter of job loss.  However, for the most part you have a pretty good idea what your income will be (provided you retain your job...a big caveat these days).  In real estate you begin each calendar year at zero dollars and hope to work up to an income that is healthy.  For each of us, that is our own private figure.  It varies with our markets, with our so called standard of living, and with our expectations.

Are you looking towards 2011 with hope or dismay?  Are you thinking you may have to throw in the towel or are you optimistic about the upcoming year?

Yes, we are still in 2010 with almost two full months ahead of us but now is the time to begin thinking ahead.  It's a time to face facts and if that means leaving real estate, then giving serious thought to what might come next.  If the answer is to remain in real estate, then it is not too early to begin thinking of how to make the outcome for 2011 better than 2010.

Whichever way your thoughts go give yourself a big pat on the back for being part of this profession right here and now.  It has not been easy for many and yet we have hung in there.

BRAVO TO ALL OF US!

Recently an Active Rain member wrote a post about victims.  He asked the question, What do we know about victims?, and then proceed to give his definitions, none of which are present in any dictionary I have ever seen.   Many of those that commented agreed with his position.  This is my response. 

There are victims of the housing market.  There are others who are not.  There are personal reasons that some sellers do not, can not, will not follow the advice of their agents.   Sometimes it is simply because they believe they know better.  Other times it is because of a much deeper reason that they may or may not share. 

If a house is overpriced what responsibility does the agent bare?  If I were to list an overpriced property it would be my fault also.  Why blame it only on the seller?  There have been listings I have passed up or not gotten because my assessment of value was different than the sellers.  Other agents have come along and taken those listings at an unrealistic price.   Let's share the blame when that happens.

One of the definitions of victim, according to Merriman-Webster Online Dictionary is:

One that is subjected to oppression, hardship, or mistreatment.

Are we to believe that no one has experienced, at the very least, some hardship during these trying economic times?

Do the many agents that have not survived in real estate during this down market fit your definition of victim? 

Some of them fit the definition above.  Some do not. 

Without a doubt there were agents that have not survived because they did not learn how to succeed in a difficult market, others chose not to adapt to the changes, some because they did not recognize the seriousness and the extent of the downturn. 

Others did not survive because their partners lost their job and it became necessary to take a job that provided a steady income with benefits or perhaps they experienced an illness or something else that prevented them from practicing real estate.

Some people are victims of this market and others are not.

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Buying or selling at Lake Anna, VA or the surrounding area?  Call Kate Elim at 540-226-1964 or e-mail at lakeanna.kate@gmail.com.