John Ryan

So..........

I have not written a blog in a long time. Part of the reason is this market has been so uncertain and has been uncertain for a long time. I was tired of being a whipping boy for some a**hole on Zillow to call out that I was just a salesperson waiting for my next mark. I want to feel genuine when I make a post and not feel I am misleading anyone. I have practiced good social media, passing on what I consider to be relevant Real Estate news and adding comments about our condition but have held back on a rant.......

I am so frickin ready....

Most of you who know me would consider me liberal. People that knew me 25 years ago would consider me a conservative. The truth is I am practical and realistic. I realize that there are some programs we have to pay for just because it would be too expensive not to. Yes they are infuriating but necessary. Sad truth. Is Real Estate an industry that needs MORE government interference?

NO!!!!!!!!!

Why???? It's so simple it's ridiculous! Real Estate is a just what it's name implies. Real, solid, tangible investment. No matter what the rate of homeownership is there will always be a solid number of homes! Will they be owned by the people that live in them? Not in all cases. That being said what is our indrustries cure?

1. Short Sales-- GET THEM DONE! The whole idea of a short sale is to save both parties money. The bank saves the money it would cost to foreclose and the homeowner gets out of a situation they can't handle. The banks need to smarten up and get them done in a timely manner. These properties could be earning money for the banks and other investors. PLEASE!!!! Put these properties to work! Make short sales a temporary solution, not a permanent condition!

2. Foreclosures--- Same deal. Get them done and recirculated!

3. Shadow Inventory--- CRIMINAL! Nothing but the manipulation of an already bad market. The banks need to put down their cards and let the market bear what it will. The shadow inventory is almost worse than actually flooding the market with low priced inventory. The UNCERTAINTY has become tangable because of a media that elevates the hype to tangible speculation!

4. Mortgages- Responsible LTV loans done with reasonable inquiries. Make sure people are paying what they owe and then move forward.

Simple.... put real tangible assets back to work for our economy! Stop holding up investment. If people aren't homeowners they are renters, FINE!

We tell people to stop paying their mortgage so they can qualify for a short sale?

We hold of foreclosure for months?

Think about it.....the only problem we have in Real Estate is the road blocks we have set up for ourselves.

The properties may be sold at less then the inflated value the bank put on it years ago and that is fine because we have already bailed the banks out.

I feel like Mel Gibson in Ransom, except it's not my son that's been kidnapped it's our market.

GIVE ME BACK MY MARKET!!!!!!

One of the truly great reasons I live and work in Havertown is not just the great people here, it is the great value. Although the market is not great now the values on home sales have remained high and actually have increased the median sales price in the township significantly more than last year!

Now, to tell you the truth that was a little bit of a shock to me also. At the beginning of this year, 2010, we saw an increase in activity with a lot of higher priced new constructions and rehabs sold.
(see blog 3/12/2010)

After the tax credit expired at the end of April, the market came to what felt like a screeching halt. (see blog 7/12/2010)

So now? Well there is no doubt that there are less buyers and more inventory. People are very tentative because of the economy. Those borderline buyers and sellers are going to sit on the fence til this economy starts to move. A catch 22, because what normally starts an economy from recession is the housing market.

When the market becomes affordable thats when the smart money comes out. Now the smart money takes its time and in a market with such a glut of inventory some of the smart money wants perfection! There are a lot of homes out there that have come down in price to compete but are not selling because they need someone to make an investment in them. Will the investment payoff? That is for the savvy money! Right now is the time for first time buyers and hard workers to make an investment in this community and themselves. Five years from now people will be calling those who bought now the lucky buyers. When the truth will be these were truly the wise buyers.

When it comes to Havertown Real Estate when you put the firstpart of this blog, rising values, together with the prospect of affordable investments you have some great opportunities. If you already live here you know what a great community we have. If you don’t and would like to make a wise investment in your future, this is a great place to live, especially financially!

All of a sudden my listings that have been sitting with minimal action are seeing a flurry of activity. The interests rates who's historic lows haven't sparked massive interest may be on the rise and we may see a hurry up reaction. Could it be that you may miss out? Could it be that these low prices and low interest rates may start to go away. All the data supports that the lower prices are homes that need work and are in trouble financially. The nicer homes are maintaining some value and some are still sitting. These prices aren't rock bottom but they are affordable and may be hard to get down the road.

The Washington spending machine is slowing down and the artificially low rates can't last, I've read plenty of hints out there that we may see a jump in mortgage rates this coming up week. The debt commission report was no bed of roses unless you count the thorns. You may want to let your buyers know that these rates did hang around for a while but they may be getting away from them if they don't act soon.

Click on the pictures for more info!!!

My commitment to a more personal and unique website finally has me putting it together myself. I have it linked to HavertownRealty.com and called it Your Havertown Realtor. I still pay for a website that most of the people in my company use made by Birdview, JohnRyanHomes.com. No offense to Birdview, who has put together a great client management system if all you are going to use is their website, but it's kind of boring.

I'm thinking that a website should be more personal as we are hired for our unique personalities. I have put together this website with my MacBook Pro using IWeb and uploading it to my MobileMe. I bought a whole bunch of Havertown web addresses from GoDaddy last year, see Your Havertown Realtor in my Blog. Took one of them HavertownRealty and connected it to my new website.

Well I'm not done yet but have a good start and would appreciate some constructive criticism. Click on by and tell me what you think.

HavertownRealty.com

This "buyers" market is maddening in the fact that there are no buyers. Now you may say, "That's what makes a buyers market.", lots of sellers with minimal buyer's gives the buyers control over the market. Well they have control but they're so few and far between that it seems that they are not around. I have fought for every sale this month and with a buyer and a seller I put two homes to contract today. My buyer's negotiations lasted since the 16th and after much posturing met somewhere in the middle. My seller is swallowing a bitter pill in the fact that even her counter was countered and she feels she must take it, and I agree. It is her first offer and I am actually her second agent. Her home is nice but it is just as nice as the other 22 twins in that area for sale.

Interest rates are still around 4.5% and prices have come down, shouldn't there be a little run now? As I mentioned in my previous blog I have shifted gears immensely going with investors. Even those investors are skiddish and slow to pull the trigger. In the long run the winners will be the few buyers that see this market for what it is....a correction. With this correction now is the time to buy the homes that are priced well and still pay less than the asking. Sellers are scared and with few options. If you need to sell you are in a poor position.

It also doesn't help that all the mechanisms to soften the blow are being poorly managed by banks that really have no desire to use them since the bailout, maybe we should not averted the financial disaster instead of providing a safe landing for these giant corporations. They have fixed "their" profit margins at our expense and never has it been more clear that "Trickle down economics" does not work. These megacorporations took the money and ran without creating any jobs. Would it have been a disaster? Probably, but there would have been some significant change for sure. Check out this video..