The time has come. We have definitely turned the corner. To those naysayers who insist we haven’t, all I can say is that you have to look a little deeper at the market.
It’s been a rough couple of years. After the crash of 2008, we have all been waiting for a recovery that, at times, has seemed doubtful to many of us.
But now there is a light on the horizon. Slowly and surely, we are seeing indicators that the real estate market is experiencing new life, as many areas are brightening up with positive sales forecasts.
True, the vibrancy of activity may not be at the high level it was before the disaster began. However, we are definitely seeing improvement across the board as buyers and sellers who were scared to do anything are putting their feet back into the water.
So how can we tell that recovery is on the horizon? What is this light of which I speak?
Let’s start by looking at jobs.
One of the most powerful measures of any recovery is the moment that jobs begin to return. Across the country—but especially here in Washington—the job market is inching forward with new opportunities popping up every day. This in and of itself is definitely helping to spark our real estate market.
Jobs are just one way we can tell that we are on the verge of recovery. Another one is a monumental event created by the U.S. government. Ever since it began, it has done nothing but help to stimulate recovery. Known as the American Recovery and Reinvestment Act, this legislation is definitely helping our country get back on track. Since it was signed into law in February of 2009, this intensive mandate has empowered states by bringing jobs and money to them.
Want the details? Take a minute right now to follow this link:
This is truly an amazing website. I actually got lost in it! The site is set up so that you can take a tour of every county in the state. You can see exactly how much money each area will get. And you can see where the new jobs will be created.
The total amount of money headed our way is astounding. This is truly great news! Thanks to this program, real estate is going to bounce back like we’ve never seen before.
That’s what happens when you bring in jobs and money. That’s what happens when you strengthen the local economy. That’s what happens when you take an already vivacious region and supplement it with a new boost of energy.
And it’s working.
We’re already beginning to see results from the American Recovery and Reinvestment Act. The numbers are starting to trickle in—and they look good.
The bottom line is that things are starting to move again. Markets are starting to open up. People are more confident about their financial prospects. Consumer confidence is on the rise. Sellers are starting to sell. Buyers are definitely out there in record numbers buying real estate.
So what does this mean for you in your real estate business? If you’re like most agents, you likely have quite a few potential buyers who are still sitting on the fence. Or perhaps you also have some potential sellers who have been waiting for an improved economic market before listing their home.
The very best step you can take right now is to get this information out to all your clients. Direct them yourself to the recovery website. Show them that the market is poised to improve. Remind them that they need to think about buying now—before the recovery is in full swing. Urge them to take action before prices rise and there is more competition in the marketplace.
Your clients must understand that with this influx of money will come an influx of buyers. With an influx of buyers, sellers will suddenly realize they can raise prices. This is what always happens when the market becomes overcrowded.
But it’s up to you. You are the community expert in real estate. You are the linchpin that connects your clients to the market. You are the “nightly news” that warns them that if they don’t act now, they may lose out.
Spend some time at http://www.recovery.wa.gov. Prepare a list of the most commonly asked questions you hear from your clients. Apply the numbers and the information to your answers. Show them that recovery is near because the numbers themselves are pointing in that direction.
Information is key. Hard numbers and facts have a way of getting through to people. If you can show your clients the results of the American Recovery and Reinvestment Act—coupled with our strong Washington economy—then they can’t help but realize that now is the time to act.
Don’t delay. Make a plan to get this information in your clients’ hands this week.
By Denise Lones CSP, M.I.R.M., CDEI