Jeannie Niles Real Estate Investment
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Expectations
I believe very strongly that there is money to be made in any real estate market, even now where inventories are up, properties are selling more slowly, and both buyers and sellers are being very cautious. But to do so, it’s important to understand the current market and not let past expectations get in the way.
Nearly everyone knew that the real estate market of the past three years was not sustainable. But, while I have been telling my clients this all along, it can be hard to adjust your expectations to the new realities.
What a blow to expectations that have been nurtured in the frenzied market of the past couple of years, now that things are returning to a more “normal” level!
What must my longer term clients be thinking now, as I say to them, “We need to be prepared not to expect such a high price; we need to be prepared for the property not to sell over the first weekend, or even the first couple of weeks; we need to be prepared for potential buyers to make lowball offers on several properties, including yours, at the same time.”
I am still doing the same things for my clients that I have always done: examining their situation, setting goals, determining the best strategy to fit market conditions, and then going after the best possible deal I can achieve for them. I believe very strongly that real estate still far surpasses any other type of investment, but what a different real estate environment from even six months ago!
A new client recently sent me a gift, along with a newspaper clipping that quoted a book called “Satisfaction.” The clients had even taken time to highlight a portion of the article about “exceeding expectations.”
Naturally, this made my day. It’s always nice to know your efforts are appreciated, especially when it’s sometimes your job to reduce people’s “exceeding expectations.”
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Seven properties went into escrow in October.
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For Coachella Valley
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Multi-family properties have been the hardest hit segment in the desert area for number of sales during the current real estate downturn.
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I am always frustrated how the media and other trade groups use statistical data to prove the point they want to make, thus I like to do my own statistical research.
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It can be very profitable purchasing bank owned properties in the current real estate market.
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Some of the most outrageous episodes in property ownership that the owners lived to tell about.
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Only 5% sales agents or brokers actually own investment property, and only 10% actually sell a property.
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Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
