Thank you from Las Vegas, NV

First off, thanks to those of you who are responsible for starting this forum.

I've just stumbled upon it while looking at some information from Phoenix (who could miss Jim Messengers site?), and was impressed with what I found.

My background:

Started out working for an appraiser in 1976 (MAI) which required that I become a licensee.

1981 started originating loans (19.5% with 6 points!), which I've done consistently since.

In 1993 I relocated from southern California to Las Vegas and started finding my own buyers and sharing them with Buyer Agents, which led to opening my own office in 2001.

At the height of our market we handled quite a few transactions (2004 379 sides & 2005 392 sides). This was done with a staff of 6, most of who were licensed.

This year has been quite a different story. Our marketplace has roughly 35 to 40 percent vacant homes for sale - which experience tells me where bought to "flip". Builders have been offering upwards of 12 percent co-ops and $50,000 to $100,000 in incentives to buyers. Both of these "competitors" have put quite a squeeze on the typical seller who just wants to get a bigger home, relocate to a different part of town, etc.

Buyers are confused and scared. And like most creatures "they stand firm in their tracks when they don't know what to do".

In the long run I believe in the fundamentals of the marketplace and more than anything believe in the homeownership dream that is one of the cornerstones of our nation.

I'm just starting to work on an internet program (when the fishing are jumping into the boat you spend all your time cleaning fish intead of looking at how to be a better fisherman!). And am very appreciative for this forum, as well as some others I've found, for the opportunity to learn from all of you.

Thanks again,
Michael Patton
solutions@eoutlook.com

[Andrea Messenger]

Hi Michael,

We are so glad you have chosen to join our forum and have given us a little insight into your background. Congrats on all your success so far in real estate!

We certainly agree that real estate markets across the country have taken a drastic turn. The investors' vacant houses and the builders are no doubt causing havoc with normal resales - and with resales being the typical bread and butter for most agents, we all need to think of new and different strategies to grow our businesses.

We strive to be an excellent resource for agents to find those new and different strategies and to share ideas.

Thanks again - hope to see you on the forum often.

Andrea Messenger

[Elise Wright]

Hi Michael!

Welcome! We are excited to get to know you and hear your perspective on the various issues facing the real estate world.

We understand your concern with the turn of the market. Here in Arizona we are facing similar conditions. In fact, we are currently facing a situation in which roughly 45 percent of our resale inventory in the Phoenix area is vacant. This is most assuredly going to put downward pressure on pricing.

You have come to the right place as far as building your new Internet program. It is our job to offer you the tools to become the better fisherman you strive to be. We are committed to bringing you information that will advance your business and make you more comfortable with the transition onto the web in the process.

Have you started to build your website yet, or are you still in the preliminary stages?

Elise Wright
Marketing Evangelist