096 Financial Excellence: Surviving the Bad Housing Market

Living In Financial Excellence

07 Feb 096 Financial Excellence: Surviving the Bad Housing Market


Financial Podcast for budgeting, debt free living and investing

Episode 96: How to Survive the Bad Housing Market, Feb 7, 2012.

The housing market has been pretty cruddy for several years now but there are good signs of improvement. Today I interview my friend and realtor Kim Werla about the state of the real estate market at the local and national level. Kim is a persona friend of mine and I really like the way she approaches her business. Here are some of the neat things she does to set her apart from other real estate agents:

  • Kim’s agency is the first in our county to use QR codes for each specific listing.
  • Kim gets funny looks from home inspectors because she accompanies them throughout the entire inspection process so she understands the issues with her buyers’ prospective homes. Not too many realtors I know actually do that.
  • Kim has had success with trying different days for open houses. Many realtors will just stick the old tried and true (Sundays), which isn’t working well in my area.
  • Each week, every agent in her office does a complete live tour of each house they have listed so they get a good feel for the house. Many other agencies just sit in a room and talk about the listings.

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Show notes:

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  • The market isn’t the best for sellers but most sellers end up buying a different home right away, so what you lose by selling now can be gained on the other end when you buy at low prices.
  • There’s never been a better time to buy. Ok, that’s debatable, but this is a REALLY good time to buy a home.
  • Even though our local market is depressed, the national inventory level is down to 6 months. That’s not bad at all for a slow economy.
  • On average buyers can save 13% when they buy a short sale and 22% when they buy a foreclosure. Talk about a red tag sale!
  • Whether it’s a good time to buy a home or not, you still need to have your finances in order so you can make your purchase a blessing instead of a curse.
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2 Comments
  • Miss Too Darn Happy
    Posted at 09:06h, 08 February

    This is a really important point to take home from your interview: the realtor you choose matters a great deal. Are they proactive and familiar with your home so they can match you with the right buyer? Are they good at marketing so that your home description is tailored specifically to your home, and not just a cookie cutter description of a 3 bedroom ranch, for example.

    Are they willing to pay for quality photography? I am always appalled at the quality of photography especially on homes upwards of $500,000. Given that a huge majority of home searches begin on the internet, high quality images are your best chance at a great first impression.

    I was chatting with a friend who has been looking at homes recently, and she commented that the photography on the FSBO homes tended to be far better than the realtor listings. If realtors want to keep their clients, they need to do their absolute best for each one and not take them for granted with dark distant snapshots, descriptions that could used for a hundred other houses, and keeping up with marketing and new media as a way of connecting with the right buyers.

  • Young and Thrifty
    Posted at 14:03h, 11 February

    The housing market can be so intimidating. Knowing as much information as you can about the home you’re trying to market gives the seller more confidence when trying to deliver their sales pitch.