Now is the time to come to the aid of your community.doc

09market_report_e.pdf

The latest nutritional buzz is an avalanche of information indicating the benefits of the sunshine vitamin D. Countless studies with prestigious medical institutions show that vitamin D is enormously beneficial and that a great many Americans have vitamin D deficiency.

Vitamin D is found in fish, eggs, fortified milk and cod liver oil. The sun contributes significantly to the daily production of vitamin D and Vitamin D3 supplements are usually well tolerated. Recommended daily allowances have been modified to higher dosages if vitamin D deficiency is detected. Currently some physicians are prescribing up to 2000 iu daily.

It seems a bit contradictory that we are now counseled to get regular sun exposure after years of concern about skin cancer, but doctors suggest 10 to 20 minutes of unprotected sunshine is now advisable.

Vitamin D has long been understood to contribute to good bone health. Recently, research suggests that it may provide protection from osteoporosis, hypertension, cancer and several autoimmune diseases.

With Steamboat’s annual 300 days of sunshine it is no wonder that residents enjoy a sunny disposition and good general health.

Buyer, Buyer, Where for Art Thou?

Buyer, have not remorse, have courage to deal.

The market will soon be on even keel.

This house is half the price it was last year.

You will get the loan, have no fear.

But unless you start now and soon,

Only the others will reap the boon.

Call me, I love to work with buyers.

It’s the other brokers that think you’re liars.

Call soon!

• If it is cold and dark and dreary, I call my client and cancel our real estate showings. Even the Taj Mahal looks a bit dim on a bad day. It is difficult to experience the viewing rationally; “I know it seems dark but that is because of the rain storm”. We humans just perceive a dark day darkly and that casts a shadow on the property in question.
• Make sure your clients have not missed a meal and are well hydrated. Let’s face it, time drags when you’re in the car with a realtor. It is easy to get cranky if it is an hour past your lunch time and you crave a Coke, or at least a bottle of water. I like to be prepared with little packages of snacks (healthy is best – like almonds) and a cooler with water and juice. I’m not even above going through a drive-through if I think it will do the trick.
• A realtor’s vehicle should be clean and comfortable. If there is an aroma of gym shoes or that lost banana, the client doesn’t feel well cared for. I once worked with a realtor to look at college housing for my daughter and had to straddle canned goods on the floor of the back seat. This was also the lady who locked the keys in her car and left us standing out in the cold.
• Know where you are going and the best route to get there. I often drive my route before picking up the client so that there won’t be any surprises. Also, if I see other yard signs along the way, I can look up information on those properties thus making me look knowledgeable and professional. If you haven’t previewed a property prior to the showing, at least ask the listing agent 40 questions so that you have a mental picture of the place.
• Don’t try to up-sell. If their stated price range is under $300,000 respect that. Showing $400,000 properties makes you look greedy or at least like a bad listener.
• Don’t talk too much, but listen, listen, listen. You don’t need to waive your hand at the kitchen and say “this is the kitchen”. They will probably gather that. Ask about their children but don’t brag about your own.
• Smile and ask for feedback at the end of the appointment. Asking the right questions is definitely a part of the art of showing property.

Jonathan Lethem is a superb novelist. His Motherless Brooklyn is one of my favorite books. With Chronic City he has knocked it out of the park again.

“When everyone is buying, you should be a seller.  When everyone is selling, it is time to buy.”

Real estate in Steamboat is experiencing a correction that is almost universally advantageous for buyers.   Whether it is an “L” shaped extended dip or the new normal, property is now much more affordable.   Interest rates are wonderfully low and incentives to purchase combine to create an ideal time to buy.

Market value boils down to what the buyer will pay and what the seller will accept but the other element is what the appraiser says the property is worth.  In a descending market, appraisals often come in higher than market value.  This can occasionally work in the seller’s favor when he is trying to capture more equity, but mostly it is a re-assurance to buyers and their lenders.

What does the calendar have to do with real estate?   Often we are questioned as to the best time to buy or sell a property.  The answer will vary by locations, but in the Steamboat Springs market timing can be important.

We write most of our contracts from mid-summer to the first part of November.  Sellers therefore, are wise to place their properties on the market at the end of June or early July.

Buyers are most scarce from early November to mid-January.   Buyers may find more cooperative Sellers during that period because Sellers are not getting any action.  They are frustrated.  During that time, even in good years, the market is mostly flat.  In particular, vacant land Buyers will find motivated Sellers during that period because buying a building lot in the dead of winters is contrary to the trend.  

We brokers quite often encourage vacant land Sellers to take their properties off the market in the winter and bring it back on early in the spring.  Given that, a piece of land that remains on the market during the winter, may indicate a Seller who does not want to wait.   The contradiction here is that land Buyers want to know what is under all that snow.  Depending on the area, that concern can be handled with a soils test, by observing neighboring properties and by relying on brokers, builders and architects who have a strong understanding of the area.

The assumption that our market is busy during the Christmas holidays is false.  While the town is full of visitors and guests, they are too caught up with family and skiing to take the time to inquire.   If they become interested, these prospective buyers often call when they get home or start searching properties on our website (prudentialsteamboatrealty.com)

Once again, a contrarian stance is such a wise philosophy.  When most others are selling, you should be a Buyer.  When most everyone is buying, you should be a Seller.

Contact Vicky at (970)879-8100 or email vicky@prudentialsteamboatrealty.com

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