Housing Musings

Friday, January 23, 2009

Some things change, and others just don't

Wow, it's been a very long time since I last blogged, and it isn't that I've been idle, just VERY busy. Since last February, I opened my own office, with all the work that that entails, finished renovating a spec house, hired some fabulous assistants, went to Ireland to study for a Certified International Property Specialist (CIPS) designation, (more on that later), got my Senior Real Estate Specialist designation (SRES), hosted a seminar on senior housing issues, survived my children's movings into and out of our house, sent my youngest child off to Culver Military Academy, maintained my status as groupie/roadie for my middle child's indie rock band Honest Engines, listed several homes, sold one fabulous house, and helped my buyers/friends renovate it, rented two homes to amazingly wonderful people with whom I love to hang out, worried fairly constantly about money, and had some startling revelations. The abyss, the brink of which we stood upon last February, just about swallowed us up last October and November, and now here we are. The unthinkable has become the new normal. There is little comfort in the knowledge that many of us are together in the same leaky boat.

I don't want to be cloyingly sentimental, but there is so much to be grateful for! Friends and family, health, food and shelter, great institutions, a sense of purpose. I heard a wonderful quote from Martha Washington, something like, "I choose to be optimistic at all times, because I find that how I feel depends less on conditions than on how I choose to feel about them." I need to look up that quote, I didn't do her justice, but that's more or less it. Sister Wendy (I just love Sister Wendy, the dorky nun with the amazing Art History programs on PBS) published a book for kids, that shows a picture of a crossing of the River Styx, with the beautiful world on one side and the fires of hell on the other, and she says the point of the picture is to "choose happiness". Such good advice. More advice, don't sell if you don't have to right now, it's kind of ugly still with the foreclosure thing going on. I looked at sales for December and January in Lake Forest, and found that many of the homes sold for between 25 and 30% less than their original list prices, except for a few which sold quickly at or near list, because they were such great buys in the first place. Historically Lake Forest homes have sold between 91-98% of asking price. This tells us something.

Meanwhile, if you need to sell now anyway, call me. I'll help you spruce up, stage and generally perfect your home for market, and come up with a price that you can accept and that has a chance of competing with the many many homes that are available right now. And absolutely, be optimistic. Informed, but optimistic.