Get the Real Story: Ask a REALTOR

Pick up any newspaper across the country these days and you'll see every angle of the gloom & doom befalling the real estate industry. The real news however, is what you won't find in those articles. Doug Duncan, chief economist for the Mortgage Bankers Association, commented in September on the state of the mortage market and dropped some interesting observations that have yet to show up in the mainstream media:

• Thirty-five percent of the homes in the U.S. do NOT have a mortgage.
• Some 94.88 percent of the loans ARE performing.
• The foreclosure problem in this country is really a story about seven states.
• The biggest foreclosure problems are in Michigan, Ohio and Indiana. These are manufacturing states that had horrible job losses. Since 2001, Michigan has lost 300,000 jobs. These states would probably have had problems no matter what the market was doing.
• The other four states -- California, Florida, Nevada and Arizona -- experienced significant overbuilding. Twenty-five percent of the foreclosures in these states are on properties that are held by investors who were speculating.
• Only 25 percent of all mortgages are subprime, and of these, 75 percent are performing.
• In the other 43 states, foreclosures have fallen in 2007 from 2006 (data from Michael Clawson, vice president, Central Texas Mortgage).

- Inman News, 9.16.07


So what does this mean for you? If you're in the stock market, "buy now", and the same concept goes for real estate: if you're in the market for a home, don't get caught on the sideline when the fears subside. The best thing to do is meet with your real estate advisor. They can answer your questions and guide you according to your particular interests. Don't have an advisor? Meet the professionals of Prudential Burroughs & Chapin Realty, Inc. and stop by an office today.

Consider Prudential For A Career

Prudential Burroughs & Chapin Realty has been a leader in coastal real estate not only for clients, but for our professional sales associates. The benefits of working with a Prudential affiliate are hard to top:

• Exclusive listing relationship with Yahoo! Real Estate
• Online Seller Advantage
• Subsidized advertising
• Luxury homes program
• Large geographic area for referrals within the company plus the nationwide network of Prudential
  
• FREE website & email
• FREE business, computer & software training
  
• FREE eCards

A recent unscientific study by the folks over at The Future of Real Estate Marketing blog had some interesting findings in the habits of real estate professionals. They say many agents don't take time to figure out their goals and create a business strategy. Not so here at Prudential. Every single one of our agents works with a manager to establish their own strategy and together they work throughout the year to make sure personal needs, and ultimately those of their clients, are met.

Another interesting revelation in the study was the idea that agents who want to communicate online will succeed only because others will try "shortcuts that simply don't work." Prudential Burroughs & Chapin Realty sales professionals have a variety of online and offline communication tools available along with varying levels of training to fit their desire to learn advanced techniques. Each agent is Prudential eCertified, meaning they are knowledgeable and capable with the latest internet tools. Our clients can be confident in our agents' ability to stay in touch in the way that is most convenient for them, the customer.

There's a lot more info on what it's like to work at Prudential Burroughs & Chapin in our Careers section, including a Real Estate Simulator that will give you an idea of how well you may perform in the business. And take time to stop by any one of our offices to learn more.

Prudential Burroughs & Chapin Contributes to Local Schools

Burroughs & Chapin Company, Inc. contributed $2,480.00 to Communities in Schools of Brunswick County, Inc. (CIS). CIS provides educational assistance to children and families throughout Brunswick County.

The contribution to CIS' annual Silent Auction was made possible by the Ocean Isle Beach sales office of Prudential Burroughs & Chapin Realty, Inc.