Linda Hutchinson

I recently read an article on REALTOR.com which listed six reasons a home sells and to be honest, they were all good reasons. But I don’t think they are the MAIN reason homes sell in this market. The article contained “ideas” about helping a home to sell such as freshly painted front door, fix all leaks, etc. Basically, the same old and tired news. But honestly, in this market there are TWO reasons a home sells. 1. IT IS PRICED right. No amount of fix up is going to get you top dollar in this real estate market. Recently I sold a house that was absolutely stunning and totally renovated. It shined. But when the appraiser got involved it turned into little more than an “outhouse” in his narrow vision of value. The appraiser didn’t care about the renovations and the pristine condition. He cared about the foreclosure down the street which now jeopardized the value of this home. It was a fight but we got it sold. So I would say, PRICE IT FOR THE MARKET and be prepared to fight for your value. 2. LUCK – Short and sweet. Plain and simple – you need a little bit of luck on your side. In todays market all the rules and all the reasons are thrown out the window and are replaced by being in the right place at the right time. You are lucky. You have a willing seller (realistically priced – see #1) and a willing and READY buyer and the great good fortune to have a contract. Take the deal and run. You have, in essence, won the real estate lottery. There you have it – a Reader’s Digest version of the reasons a home sells. GOOD LUCK.

I find that with today's social media and news coverage we have a wide variety of opinions on the state of our world from various pundits.

There are prognosticators who predict the end is near, the bottom has dropped and doomsday is just around the corner. "Experts" from all fields want to tell us their idea of what is going to happen in 2009, 2010 and beyond.

Here is what I think. NO ONE REALLY KNOWS. I have listened to people share the most outlandish comments and they are wrong. I have listened to the media pummel us with negativity (sinking stocks, foreclosure mania, closing Detroit down and now swine flu). If there was no BAD news to report...they would make it up. Oh wait...I think they already do.

If I sound cynical - it is because I AM cynical. I am choosing to ignore the hyperbole, the garbage and the embellished "news" reports. I choose instead........

HOPE

All the aforementioned things do is to create FEAR. I'm sick of fear. I am disgusted with fear. I can't predict anything and I certainly don't know when the good times return but I know that there is always HOPE and I'm clinging to it like a mad woman.

Won't you join me?

I heard something hilarious today. A buyer told me that they had put in EIGHT offers on EIGHT different homes and had not had a positive response to date.

I thought this strange since people are DYING to sell homes, right? Then came the zinger. After asking what went wrong - I was informed that they were going around making lowball offers (meaning fifty cents on the dollar) until someone said yes. All I have to say is "God bless their REALTOR".

This person then said something to the effect that sellers need to wake up and realize they can't make money on real estate today. I think the wrong person is in "sleep" mode here.

This is a tough market and yes there are a few "steals" out there but this is not BARGAIN BASEMENT sales time. These buyers haven't been successful with short sales, foreclosures or any well-priced property. At what point do they wake up and realize the problem might be -- THEM!

People want to sell but at a reasonable and FAIR price. Most Sellers are not going to turn over the keys to their homes and cash in their 401K to make your sale a reality. In other words, they aren't bringing money to the table just to make your home purchase perfect. For the record, a well kept home at a fair price is STILL a better buy than most foreclosures. Foreclosure buyers are already finding out that the bargain they thought they purchased may be the money pit of tomorrow. A turnkey property is worth its weight in gold.

Let's all get real and make reasonable offers on well priced homes. As the saying goes "reality bites".

Real estate has gone crazy.

When I was a young girl in Miami, there was a department store that every week had an excuse for a sale. Their billboard would scream out some inane slogan like "Sunny day Sale - all clothes on SALE". It was a standard guessing game for my family to figure out what excuse this particular store would come to rationalize having another SALE. In those days, stores did not typically have sales every day, week or weekend. One of my best memories was when Burdines had their once a year swimsuit sale and you would have thought the earth had gone mad. Now you can't get anyone to buy anything unless it is on SALE.

As time marched on the word "SALE" lost its magic. Stores routinely have sales resulting in a word without meaning. It's no longer special - it's expected. In short, we have taken the power from the word SALE.

Homes in Orlando are at historically low prices. We are talking serious SALES prices here and yet we have a shortage of sales. Why? Because people still think lower prices are on the horizon, sales aren't really sales and that low interest rates will remain forever. No one STILL wants to make the first move and it's reaching a critical point.

Last week I drove down Colonial Drive and was shocked at the closed restaurants, empty parking lots and SALE signs. The world is going out of business. It's time to recognize when a deal is a deal and right now, the whole world is on SALE.

Tell me...What is it going to take for you to buy?

As a student of history, one of my favorite research topics was the legendary politician, Huey Long from the great State of Louisiana. He was basically not the most politically correct man on the planet and yet he accomplished great things for Louisiana. It's a case of a leader who accomplished good deeds while remaining corrupt. Mr. Long is still remembered and revered in many parts of Louisiana - he's a loveable train wreck. For added effect, Huey Long ran on the concept that "Every Man a King" and he had his loyal "subjects" believing this. Huey Long KNEW ABOUT THE VALUE OF PERCEPTION.

So it goes with our current economic and real estate markets where, like a textbook history lesson, PERCEPTION is King. Everyone thinks THEY are special.

We can tell Sellers the truth about market conditions and we can also share with buyers that every home is NOT depressed or in foreclosure but they have a different perception based on news media and print publications.

Sadly, no matter how much you educate the listing client, they still cannot grasp the severity of our current real estate market and the concept of declining values. After all, their home is the ONE home that is different and worth more than all the others regardless of what statistics and facts we present.

The buyers on the other hand treat all homes the same - as a foreclosure or short sale. While sales executives know that every home is different and unique, many buyers have the misguided notion that every home is a "steal".

To educate the sellers is an absolute necessity. The same can be said for buyers. Sadly, it does not always work. However, in the immortal words of Winston Churchill, "If you are going through hell, keep going."