10/25/2022
by Paul DeCarlo, RE/MAX Preferred

But first... In 1994, I opened a restaurant in Charleston, South Carolina at the age of 23.  It was tough. Actually, it was more than tough.  I lived in fear.  There were days that I shed tears while prepping food for patrons that might never show up.  But they did show up and they kept coming back. Why?  The same reasons we all exchange our hard earned money for goods and services.  (Keep reading, I'm getting to the 5 solutions...)  Good businesses work to find and fit the needs of their customers.  They are consistent, reliable, and have the knowledge and ethics that make customers gladly exchange money for goods and services.  Even though the food industry wasn't for me, I was good at it and had a good product that customers wanted.  It taught me about life like never before.

So why does any of that matter now?  Mainly because I meet clients every week who are gripped by fear, and I want to help them move from fear to peace regardless of their personal and financial position.  People buy and sell homes for hundreds of reasons and they will continue to do so even in a recession and shifting market.  There are always inherent problems associated with real estate sales, but I have many solutions.  Here are 5 that I employed when the market crashed in 2007-2008.  And they still work.

Paul's Solution 1
Move your money from one bucket to another.  If your home sells for 10% less than it was worth last year, then buy a home for at least 10% less than it was worth last year.  Most of our home values rise and fall together, kind of like boats in the water.  As the water rises, so do the boats.  As home values decline, they decline generally at similar rates.  That means that if you want to sell your home, you need to buy a new home that has declined in value at a similar or higher rate.  Don't sell low and then rent long term!  The solution requires professional evaluation of the decrease in value for BOTH properties - the one you sell and the one you buy.  You can have a positive net value in a down market.

Paul's Solution 2
Quit listening to bad news.  It doesn't matter.  Who cares?  If you need to sell your home or just want to move to a larger or smaller home, forget what the media says and any other negative advice.  You can do it with a smart financial plan.  (See Solution 3 below)  I was fortunate in 2008 and actually did very well personally even in a down market. It can be done.  Be smart, get good advice, and don't take unnecessary risks.  Nix the Negativity.

Paul's Solution 3
Build your team. If you haven't done this, you should.  I developed a program comprised of a Full Time Realtor (Me), Certified Public Accountant, Financial Planner, Estate Planning Attorney, and Insurance Agent.  The Estate Planning Attorney is one of the most important, since you can establish a Living Will or Advanced Health Care Directive along with a traditional Will, Trust, and other legal resources that will help you and your family long term.  And with me on your team, we are all working together.  You will rest well at night with a short and long term plan instead of guessing what the future holds.

Paul's Solution 4
Control your situation.  So you have been sitting on the couch glancing over there at the hole in the wall where the door knob plowed through the drywall.  You also saw the rotten wood around the door trim right below the lamp with the burned out light bulb.  Now is the time to address these things.  Quit waiting.  Start by simply walking around and making a list of things to fix.  You are in control.  I help clients make lists all the time even if they don't plan on selling their homes for years.  Need some encouragement?  I'm here, so make the call.

Paul's Solution 5
Accept reality.  There are 3 determining factors that will sell any home.  Location is not one of them.  Want proof?  Check out the homes I have sold all over Birmingham at various prices and conditions.  The 3 primary determining factors are Price, Condition, and Marketing.  Once you accept the reality of your current home value and what needs to be repaired and staged, I start a proven marketing campaign.  ANY home will sell if priced correctly, is in better condition than the competitors, and marketed properly.

Paul's Solution 6
Are you crazy?  I can't give away all of my secrets.  But yes, I have other solutions that will happily surprise you (especially about rising interest rates that you need to know about). LET'S GET STARTED!

~ Paul DeCarlo is a REALTOR with RE/MAX Preferred in the Birmingham, Alabama area.  Paul has 20 years of full time real estate sales and ranks as a top agent in the State of Alabama.
~ No legal or investment advice is offered or given by Paul DeCarlo, RE/MAX Preferred