A time of transition

Over the next month or so this blogsite will undergo some changes in authorship and management. Eventually the style and design will likely change also, but that will be up to the new administrators.

A little review; many years ago I started a monthly newsletter with information about Santa Fe residential real estate. It has always been free and seemed well received by those that wanted to be on my mailing list. Years later, I converted the information into this blog format so it would be available 24/7 to any interested readers. Over the years various charts and spreadsheets were developed to illustrate the local trends of real estate sales and inventory in Santa Fe. Those same charts are still available to you by clicking on any item from the list in the left margin. In many cases the history of statistics runs from 2001 thru 2019.

The entire economic meltdown and real estate crash is reflected in the charts and figures, primarily visible in comparisons from 2007 to 2016. Yes it really did take us almost ten years to completely climb out of the hole we fell into. I do not choose to remind you how painful those years were for home sellers, mortgage lenders and Realtors alike. Now things are much different. Sales occur quickly and very few homes stay on the market for a long period of time. You’d have to find a poorly built dwelling with obsolete floor plan, missing canales, rotted out subfloors and aromas of mold to find a home that does not sell in short order. As always, the above average homes sell first. then average, then eventually the leftovers that someone learns to love despite its flaws. There is less than a three month inventory available in homes under $500,000. Even homes above a million show less than a year’s supply compared to 2009 when it took almost four years on average to sell a home.

So as yours truly, this trusted blogger, arrives at an age near 70, he has happily decided it is time to do new things and leave the blogging to others. In this case, santaferealestateconsultant.com that happens to be a talented team you will get to know soon enough. I have worked with Melissa Pippin-Carson and Roger Carson for many years and know they will be good stewards of this real estate blog. They already author a print column in the Santa Fe New Mexican monthly supplement for real estate known as the Guide. I cannot tell you which one does most of the writing or if its shared equally, but count on quality content and also know that you can confidently work with them accomplishing your own personal real estate needs. Their established success and leadership in the area real estate market makes them a top choice among real estate professionals.

Twicethesellingpower@gmail.com is their email address.

Tweedle Dee and Tweedle Dumber

The guys and gals that fix your things are probably pretty good at it, or you might not return to them to fix whatever broke. The people who wait on you when you are dining out are probably attentive and courteous and provide excellent service (someone else does the cooking, not the wait staff) and that might be a large reason you go back to that place on a regular basis. Real estate has its ups and downs, along with a host of top-notch people mixed in with those that can barely explain the necessity of a survey. Who do you like to work with? Is it safe to assume you have a true professional at your side when you wheel and deal in real estate? Lets hope so.

What is the purpose of negotiating one of the most important financial moves of your life (buying a home) if you are going to throw caution to the wind and hire the rookie with little or no seasoning or the broker that cuts their fees to get your business, only to forget to tell you about some important deadlines during escrow. Yes, rookies can be great at their first few deals as a Realtor, or they can learn at your expense. Helping your Realtor understand the entire process might make you feel better and you quite likely will not end up in a lawsuit or in a pickle that you cannot escape from. But should you take that chance?

How about the role of ethical behavior in your dealings with that salesperson you hired? Does it even matter? Well, it might not matter in many deals. It’s possible there will not be an instance when your Realtor had a choice to make and sadly chose the unethical path. But what if they did make the wrong choice (I am equating unethical with wrong, by the way) and it affected you in a problematic way, or even cost you money? If you cannot think of an example of how this might affect you, the customer, in a negative way, ask your Realtor if they can describe an example. If they cannot, then you also might have reason for concern.

Every four years the national Realtor organization (NAR) requires all Realtors to have taken a two-hour course on Ethics. The four-year deadline is this year. Almost all of them have taken the course by now or are scheduled in the next week or two. If you fail to take the course, your Realtor status is suspended. If your favorite Realtor is suspended, what does that tell you? That they are a procrastinator or are not paying attention to requirements? What would that say about their ability to help you execute the terms of a purchase agreement with deadlines and contingencies on many items?

Simply failing to take an Ethics course does not make one unethical, of course! Some have taken the course and remained a bad actor in our industry, doing unethical things time after time; saying the wrong thing, failing to disclose material facts, forgetting to tell you about the new sewage treatment plant going in across the street from your retirement home. Lack of disclosure is one of the most frequent mistakes a Realtor can make. If you are a home buyer, rely on that person, but please take responsibility and do as much research as you feel is necessary to allow you to feel comfortable with the property you are buying.

Tweedle Dumber is licensed and practicing real estate sales every day. And I am calling them Dumber because they do not have the brains to figure out how to do business ethically and professionally. They may think that classes they are required to take are a waste of their time. They may think they already know everything. Hey, if I have been in and around real estate for nearly 35 years by now and am still learning every day, it might be because there is more to learn and the rules are always changing and market trends dictate learning new things every year. Find out if your chosen professional is in the good column or in the “bad” column. Then you can sleep at night.

“You learn something every day if you pay attention”  Ray LeBlond

“Wisdom is not a product of schooling but of the lifelong attempt to acquire it.”   Albert Einstein

PS-  Newly updated real estate market stats will be published here by the 10th of this and every month.