Housing starts at 25 year low Good for Lansing

As housing starts continue to drop, some people might argue that this is further news of the real estate market falling off. Here is a link to the article at yahoo; http://biz.yahoo.com/ap/080117/economy.html This is simple supply and demand. We built a few to many houses in the U.S. over the last few years, and simple economics states that as demand fell off, prices are going to fall, and production will slow. This should mean that we will finally see some of the market inventory start to reduce. We have seen a steady increase in inventory over the last few years in Lansing. This should be the year where we see that number stabilize and start to decrease.
What this area needs is job creation. We have seen some positive signs of growth with the revitalization of the downtown buildings and several of the companies in the area growing employees. The West side GM and Grand River Plant are producing award winning vehicles and our housing starts are at a 25 year low. This is a good formula for the Greater Lansing Real Estate Market. We already are the strongest economic region in Michigan based on unemployment. We should look forward to a stabilization of our real estate market over the next 12 to 14 months.
Also congratulations to Coldwell Banker Hubbell and Briarwood Realty for the Merger. Both Bob Hubbell and Bill Mcleod are great businessmen and I am sure that the combining of these companies will be great for our community. They both have exciting projects going on around town with the Stadium District, Point West, and many other new construction communities. I hope the merger goes smoothly and the combined company has continued success.

New Years Resolutions, Education, and real estate

I hope everyone’s New Year was good and you haven’t broken too many of your resolutions yet, it’s still early. One of my goals this year is to read 15 books in either the real estate field or self help type books. Last year my goal was one a month, and I achieved it. Not all of them were in print though, I have used my MP3 player to turn my car into what Zig Ziglar calls, Mobile University. What does this have to do with real estate? If you are thinking about buying a home, or investment properties there is a lot of material out there to help you get a jump start. I have a couple good sources on the side of this blog page. I was looking through I-Tunes, which is free even if you don’t have an I-Pod and the amount of knowledge there is incredible. No matter what your interests are, there is probably a cast that can give you information about it. You can even download podcasts that teach you different languages.

I will be posting the 2007 final market report for Lansing Real estate within a few weeks. If you would like to find out more information about the Lansing real estate market before then, please feel free to call me or leave questions here and I will get answers posted up. My number is (517) 349-9330 ext. 206. I look forward to hearing from you, and I hope you look as forward to a great year in 2008 as I do!

Despite National Gloom, Lansing Real Estate Shows Life.

If you did not get a chance to read the business section of the local paper today, it wasn't great news for the new construction housing industry. The Articles title was "New Home Sales Plunge." It is interesting to see that according to data collected by the Commerce Department, the Midwest saw a decline of 27.6 percent from October to November. I found this interesting since November this year was one of our busiest months. In our community Lakeside, we welcomed three new neighbors that are all in the process of building their homes. I find it interesting that the paper has a quote from Richard Yamarone a national economist that states "This is one sector of the economy that doesn't show any signs of life." It is interesting because the U.S. is still on pace to sell 647,000 new homes this year. It might not be the million homes that we topped a few years ago, and I am not saying that this is a healthy market. I just don't think that it is fair to say that here is no sign of life.
Locally, many of the bankers and Realtors that I have talked to have been very happy with the level of activity going on right now in our market. One builder we work with is putting in five more basements for customers before the end of January. I bring this up, because these are positive spots in our local area that you won't hear about in our main media streams. I know that homes aren't valued as high as they were a few years ago, and if you are a seller that sales are not as strong as they were. Even so, there is life in the real estate market and homes are still selling. The market will come back, and we will see real estate values rise in the future. What this region needs to focus on is job growth and stability. More jobs in the region mean a greater demand for housing helping marketing times and values.

More on Green in Lansing

If any of you have not had a chance to check out the new online Magazine for Lansing, Capital Gains, add this to your favorites. This company has had great success in other markets doing positivie news stories showing what is going good in cities across the U.S. They started this fall in Lansing and are off to a great start. I have linked to an article that they have put together on Green Building and LEED Certification. http://www.capitalgainsmedia.com/features/leed0109.aspx This gives a lot of information on what the different developers in Lansing are doing. There are also many other articles on different neighborhoods and other activities going on in the Greater Lansing area. I will put a link in my publications section on right side of this page.

Happy Holidays

Happy Holidays from my family to yours. I hope the next couple of weeks are full of fun and joy. Please be safe while traveling and enjoy your time with loved ones. I am excited because we are heading down to the Capital One Bowl where my younger brother is going to be part of the half time show. I hope the Big Ten fairs well in the Bowl games this year.

Market hangover brings valuable lessons

Last night I was at a Christmas party at Dublin Square. I think out of the two hundred or so people there, 199 asked me, “so how’s the market right now? “ I respond with the same generic answer “slow in some segments, but steady in others.” Lately in Lakeside, I have been able to say we have three homes under construction for new neighbors out there. This really seems to open eyes when people hear that comment. They think housing is at a complete stop. The truth is, this market is not dead. We are seeing people still buying nice homes, the difference is, they are getting more value for the dollar. The party of the housing boom is over, and the United States housing market has finally awoken with a huge hangover. Unfortunately, some people got hurt when they fell victim to predatory lending. Others really thought the housing market would never crash and bought more than they could afford because they felt that the appreciation would bring them riches in the future. This is going to hurt for a little while nationally, but hopefully we can take a few lessons from this situation. I know I will be more careful on how little equity I leave in one of my properties so should I need to sell it fast I won’t be in a position to bring money to close. As goods become more expensive and gas prices raise again, this is a good time for all of us to readjust our budgets, and put together a program for a rainy day. A home is still a good investment if you need a place to live, but listening to a Rich Dad tape, Robert explains how a house is really a liability as a personal investment for our future. I did not understand this at first, especially being in the real estate profession. We are taught to show the tax advantages, appreciation values, and all of the other benefits that come on paper from owning a home. These are all true, but after watching the foreclosure rate, it all comes down to the simple fact of how much money is coming in the door versus what is going out. It is unfortunate that so many people are learning this at the expense of their homes.

Goal Setting

As the new year rapidly approaches many people begin to work on their New Years Resolutions, or goals. Goals are something that our office takes very seriously. Through out the year we are constantly reassessing our goals, both within the company and individual employees work and personal goals. A few years ago some of the other agents and myself attended a seminar by a gentleman names Brian Tracy. If you have not heard of him, he is probably one of the best motivational speakers I have ever heard. I have included a link to his website on this blog site, and I am also going to post the notes below that we took from the seminar on goal setting. If you are looking for some direction on self actualization and goal setting, I highly suggest looking through Brian Tracy’s materials. We also have some goal templates that we use in the office, if you are interested in receiving a copy, please email me at brent@lansingrealestate.com, and I will be more than happy to send you one. If you have any tips regarding goal setting please feel free to post them here.
12 Steps:

1) Desire/Need – The force that compels us toward our goal. It is always personal or selfish.
2) Belief – Most important element. You must believe you can achieve. Make your goals challenging so they cause you to stretch yourself (gets you out of your comfort zone).
3) Write it down – This is a way to program it into your subconscious. Write in complete details exactly as you wish to have it. Have a very clear representation.
4) Determine benefit – How will you benefit from achieving your goal? This will help you see more reasons to achieve your goal.
5) Analyze your position – See where you’re at. Where you’re beginning.
6) Set a deadline – What is the latest outside date to achieve goal. You should be able to measure how long it will take to accomplish and measure your success. You should see progress along the way and get a feeling of being a winner.
7) Identify Obstacles – What will you have to overcome? There are always obstacles. Write down what these are.
8) Identify knowledge required – What knowledge do you need to obtain your goal?
9) Clearly identify people needed – THREE LAWS OF RETURN:
1. Law of Return: Sewing & Reaping – more you put in/more you get out.
2. Law of Compensation – Every action gets an equal reaction (get what you give).
3. Law of Service – Can only get success by serving others (go extra mile). More Blessed to give then to receive. More profitable to give then to receive.
10) Take all steps – Make a plan and write down all activities. Prioritize your time – 1st, 2nd, etc. Continually go back and re-prioritize.
11) Clear mental image – Should already have obtained this and should already be in existence. Play the mental picture in your mind daily!!
12) Back plan with determination & persistence – Don’t give up!! Know that there will be setbacks. Winners pick themselves up. Self-discipline is persistence in action.