Highs and Lows of Market

Its getting harder and harder for us to keep track of this market when statistics are sometimes contradictory. First, Lansner on Real Estate hits us with this: "DataQuick reports that since June, O.C. home prices have fallen for four consecutive months. This is the first time in a sales database dating to 1988 that such a downward streak has occurred. " Ruh-roh.

But then we get nonsense like this from Barron's, which reports that the luxury condo market is actually just taking off, with buyers snapping up places from coast to coast. The Richard Meier project at 9900 Wilshire in Beverly Hills is the local example used: "The project is at 9900 Wilshire Blvd., one of the last big parcels in town. In a sign of the demand, he says, more than 1,000 Beverly Hills residents have put their names down on the interested list for the project."

And then the sad news, via the Daily Bulletin, which reports that many of you realtor types will be looking for new careers soon. However, there is some hope for you realtors with some smarts.

"September home sales decreased 31.2 percent in Los Angeles County from a year earlier, according to the California Association of Realtors.

And after years of steady price increases, some area communities have reported year-over-year declines in their median home price.
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"So many of the people who got into this industry over the past two or three years have been order takers," he said. "They took a lot of orders, but now we're getting down to the people who know how to sell in a normal real estate market."

In order to stay in the real estate industry - and be successful - Realtors must adhere to some basic edicts, Adams said.

"Number one, they have to have a good work ethic," he said. "If you don't have that, it doesn't matter what you do - it won't work."

Adams said real estate professionals must also have a good, ethical reputation and possess good communication skills.

"They have to be able to communicate with clients and understand their needs," he said. "They need to spend more time listening and less time talking."