best practices real estate
Have We Hit Bottom? david & wendyBARIN
Sales executives David and Wendy Barin of Stirling Sotheby’s International Realty are luxury real estate professionals and 25-year residents of Brevard County. The couple is well-known to the Central Florida business community and homebuilding industry, with a depth of experience spanning several decades. For more information on David or Wendy Barin, call (321) 412-0815 or visit www.
DavidandWendyBarin.com.
Opportunities Abound for Diligent Buyers and Sellers
Has the real estate market hit bottom? That’s the question being asked throughout the nation and right here in Brevard. But while real estate professionals and investors wrestle with the question of the bottom, most people still can’t pinpoint the peak.
well behind the actual event. What is reported as news is really a fast-aging snapshot of what was.
Research So start digging and charting. Choose 12 or more of the most
And how are we defining the peak anyway? Or the bottom? Like any complicated issue, buzzwords and yesterday’s statistics are easy to latch onto but ultimately are meaningless, leaving the serious real estate buyer or seller with some homework to do.
Snapshot One thing I have personally learned
in buying and selling many pieces of real estate over the last 25 years is that condi- tions rarely are constant – and that seemingly unrelated factors may overlap and influence local conditions. The media and consumers spend vast amounts of time trying to make sense of information markers which lag
UNDERSTANDING MARKET CONDITIONS is an art touted by many, but practiced by few. Look for highly active agents that practice their craft FULL-TIME.
78]JULY2010
spacecoastbusiness.com
important indicators for real estate factors within your area of interest – not just things like median prices and unemployment rates, but those items important to your specific purchase or sale. Chart them separately and go back far enough to see how those factors played out during the last cycle. Then the fun starts; take a hard look and observe how some of these charts are related, while others may move in opposite directions. Consider the reasons and look for current conditions that may be trend- ing in a similar fashion. Therein lies opportunity – well before the media acknowledges it and the herd moves in. With all the investments I have made over the years, I still enjoy the thrill of discovery when my research identifies a new opportunity.
About Selling In the current buyer’s
market, it’s all about position. If you don’t need to sell… don’t. If you must, be honest with yourself and your real estate agent, real-
izing your knowledge of market conditions may have to take a back seat to your own, unique time- frame. Do you need to sell and
close within six weeks, six months,
or one year – or are you planning to just put it out there and see what happens? Each will have a
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