Many marriages haven’t had the staying power of some of my recent listing contracts. I wandered into a cool condo in Abbey Springs last May and wandered out a few hours later with a listing contract. Four new friendships, more than a calendar year, and probably 50 showings later, I sold that condo. The buyers of that unit came on the scene last August, but brought to the transaction their own Abbey Springs unit that needed to be sold, which meant it was the opposite of a slam dunk. I listed that two bedroom condo in early September, and a mere 11 months later sold that condo which led to the sale of the three bedroom condo. The buyers gained a bedroom and some valuable living space, space that was rapidly becoming a necessity with the addition of grandchildren and the asumed promise of more on the way. The transactions completed, sellers bruised and a undoubtedly battered by the bumpy ride of real estate 2009 style.
The two sales yesterday brought the total number of Abbey Springs sales for 2009 to ten units, far outpacing the 2008 year end figures, and proving that Abbey Springs is a market on the rebound. The sales brought my Abbey Springs YTD total sales to 3, which is pretty solid when you consider I’ve now had my chubby hands on a third of the transactions there this year.
All that brings me to this. Selling a home can be tough these days. The two sales today were the result of countless hours of work, countless showings, several contract extensions, and in the end, reductions in previously agreed upon sales prices. It’s just not that easy anymore. I’ve had sellers this year that agree to list for short periods of time and then pull the listings when their properties don’t sell. They either refuse to relist the properties because they don’t think they’ll sell, or because they think they already should have sold. In either case, the sellers are probably wrong. This market has some liquidity in it, at the very least more liquidity than was present in the market in 2008, yet it’s still a struggle.
I’m happy that my sellers chose to stick with it and fight to complete these transactions. If there’s one bit of advice I can give to anyone looking to sell, it would be to follow the example of my two sellers from yesterday. Adjust your prices to the reality of our new market, and stick with it. It doesn’t hurt to have a great Realtor either, but keep fighting and chances are you’ll be rewarded. For now, I’m spent, so I’m taking young Thomas to Wrigley for his birthday game. Turning 6 and having your dad take you to a Cubs game for your birthday? There’s hardly anything better. A sincere thank you to my Abbey Springs sellers and buyers for allowing me to work on both of these sales for as long as you all did. I’m flattered by your loyalty.