Tim Collom

I recently ran into a past client of mine that is an accomplished producer and actor that proposed an idea.... Make a video about yourself. At first I had some serious hesitation because the first word that came to my mind was Korny. He said just let me do it and it will give your customers just another perspective of who you are, how you work, and what you stand for.  Differentiation is a key element to marketing in the industry.

He also explained that while people may copy you at least you remain on the cutting edge and ahead of the curve by trying new things.

Here is the finished product and I would love any feedback.

February 18th, 2009

As a first time homebuyer, I have to admit I was a little leery about everyone and worried about being taken advantage of. Luckily, I was referred to Tim by a friend of mine, which I believe is always the best way to go. Tim contacted me before I ever found the time to call him - that really impressed me. Right away, I appreciated his energy and enthusiasm! I have to say, looking into house couldn't have been more convenient through the website that he set up for me. I could click in my email and go to the site to view all the homes and immediately filter out my favorite homes. The main things that stand out to me about Tim Collom is that he always had current updates on all the homes, he even found the home that I bought before it reached the MLS, he was flexible with my tight schedule, he was very knowledgeable, and he was exceedingly willing to walk me through all the details of buying a home. I would recommend him to any one of my friends and family and actually already have!

---Melissa Johnstone, Accountant

The insanity of the seller's market during 2004 and 2005 has shifted to a buyer's market. In some areas of the country there has been a price correction for homes.

The buyer's market is a simple product of supply and demand. Currently, there are more homes on the market than buyers. This creates a surplus of homes. In Concord, California there was roughly a 12 month supply of single-family homes available, according to my calculations.

Two things can resolve the current surplus of homes. 1) More home buyers enter the real estate market. This is the more unlikely solution. Mortgage lenders have tightened their qualifications for loans. Eligible home buyers must have better credit scores and a stable financial situation to qualify for loans. Also, interest rates have increased in the past few weeks, decreasing the amount home buyers qualify to purchase. The combination of these two factors make this solution less likely than the other.

2) Home owners decrease their home prices. Sellers will need to make their home more attractive to the available home buyers in the market. One of the ways will be a reduction in listing price. This can be evidenced through buyer incentives (credits toward closing costs) or by lowering the asking price. Home sellers are forced to compete on price to entice buyers into the home.

Home sellers cannot immediately increase the number of home buyers as a result of their actions. However, a home owner can lower the price of their home to increase the home's attractiveness to the available buyers. If you can buy more house for less money, why wouldn't you?

This makes it a great market to buy a home for investment or personal use. I say that with a caveat: The holding period should be greater than two (2) years. I make this caveat because I think that we are near the bottom of the current real estate market correction. I am not sure that we have reached the absolute bottom yet. A two year holding period allows for the real estate market to reach bottom and begin to rise again.

My advice to buyers and investors: Call me today and get in the market! This in my opinion is a great time to buy for the long haul.

My advice to sellers: Do not expect to set the terms of the deal. You are no longer in the driver's seat of the real estate market and need to make concessions to home buyers.