July 15, 2006

THE REAL (ESTATE) STORY
By Larry Underhill

“BUYERS DON’T BUY in a Buyer’s Market.” Sounds strange, but think about it. The thing that MAKES it a Buyer’s Market is the scarcity of Buyers! In the recent Seller’s Market, there was a scarcity of homes for sale. Now, we have the opposite problem. If you’re a Buyer, you’re like a purty girl at a dance! You’re in demand.

CONTRARIAN THINKING: I’ve mentioned this quote in the past, but it bears repeating: Tycoon and financier John D. Rockefeller was once asked for the secret to his great wealth. He smiled and replied, “I buy my straw hats in the Fall.” If you’re buying when the whole world is selling, you get the pick of the inventory. It’s a great time to be buying real estate.

I HAVE BUYERS for well-priced homes in most price categories. Of late, a fair number of Statesman’s listings have been sold to Buyers also represented by Statesman Realtors. Maybe it’s because we’ve been blessed with some great (read well-priced) listings! We do our best to help our Sellers stay realistic about pricing. In the current market, that’s what gets homes SOLD.

GRANDMA’S HOUSE in a great Westside neighborhood! 1516 Mariposa Way is an easy walk to schools and shopping. Two bedrooms, two full bathrooms (Master Bedroom and bath), central heat and air, white vinyl-clad dual-pane windows throughout, large covered patio, and newer kitchen range and dishwasher! The owners expanded the Living Room by eliminating the third bedroom, but that’s an easy change if you so desire. At $349,950, this home is a value!

THINK FAST! Know someone who needs a quick sale (a one-week escrow, for example) and is willing to discount their price accordingly? It can be done if all the facts line up. Call for details.

PRICE REDUCED! 1706 Cape Cod Circle is a landmark two-story home at the corner of Cape Cod and Lakeshore Drive. 2313 square feet! Three bedrooms, two and a half baths. New price: $450,000! My Sellers’ new home is nearing completion, and they want to get this home SOLD! Call for details or for a private showing.

CONTRARIAN THINKING, CONT’D: Economic historian Arnold Toynbee observed, “The majority is almost never right.” Thinking outside of so-called conventional wisdom can make you a fortune. I know of real estate investors who have been waiting a long time for the current market conditions to materialize. They know that, historically, real estate is the safest of investments (with an excellent return) if you buy right and hold long enough. They’ll buy the bargains created by this soft market and reap the rewards in years to come. How about you?

IF YOU’RE INTERESTED in building a real estate portfolio that can support you in your golden years, give me a call! You don’t have to be a Rockefeller to build a real estate fortune. You just have to get off of your couch and ACT! Easy to do…easy NOT to do. Your choice. Have a great week! See you next Sat.

Statesman Realty
(209) 333 2380

1-800-407-SOLD (7653)
Website: www.larrysellslodi.com

Website: www.larryunderhill.com
Email: Larry@LarryUnderhill.com