The Value of Down
Posted Jan 22, 2008 @ 8:54 am, Viewed by 326 Visitors, Read 326 Times.Yes, the market and the economy are down. It’s not the first time and it won’t be the last. The market goes up, the market goes down, and sometimes it goes sideways. There are economists who can explain it in eye-glazing terms, but even a tyro can see the signs in time to say – Hey, something’s changing.
The first tip of a down market is a far off high-pitched sound that you recognize the closer it gets and becomes almost deafening – whining! The second tip is that pundits wake up, put on their out-of-date suits, crawl out from musty caves to predict the end of America – no more apple pie. Then, of course, there is the blaming – the Republicans blame the Democrats, the Democrats blame the Republicans, liberals blame conservatives, conservatives blame liberals, free-marketers blame statists, statists blame free-marketers, the poor blame the rich, the rich blame…well, the rich hunker down with their money and go on world cruises.
Is there any value to down? Bears seem to like down; they have a strategy for it. I’ve never mastered the strategy because I’m afflicted with the terrible disease of optimism and hold out in hope until the carnage has been picked clean. This time, though, I did pick up a nice little deal while peeking at a few wounded prices.
But aside from the economics of it all, I’ve found some value in down. I’ve found lately, although I’m still busy with leads who are waiting for the last breath and no-pulse, that I have time to re-organize. As bad as 2007 was in many areas, I was busy last year here in Savannah Ga and became very un-organized. My files are like a treasure hunt. There is something purifying about organizing, it makes me feel clean and well-dressed.
Down also gives me time to reflect. Am I a good person? Where am I going with my life? Do I spend enough time with my family? Is my haircut out of style? With reflection, I have time to get centered and re-energized for the next up. I also have time to see my mistakes from the previous year and make adjustments.
I AM NOT going to overspend on advertising this year. I got a call for the chance to be vain for 50% off in a sleek local magazine the other day and I said – NO! It felt liberating. After I hung up, I just sat there relishing the reverberations of – NO!
I also have time to read and catch up on the trends in real estate. I didn’t know so much was going on. I have been surfing RE blogs and it’s amazing all the great information out there. I even learned the buying low and selling high is still a good strategy. I think that one will be around for a long time. I have grown to love the internet, the useless and the useful.
I’m in the process of planning for 2008: cutting expenses to the bone, advertising in low cost ways, creating systems to help organize, strengthening conversion of leads to sales – this year everything that is not making money is going. So, down has its value. It gives time to breath, to plan, the reflect, to get a new hairstyle, and, most importantly, to appreciate (this type is controllable).
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My name is Mike Farmer and I am owner/broker of Mike Farmer Realty. Savannah is a beautiful city on the Georgia coast. My office is in downtown Savannah. Read More
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What a great post! I feel the same. Although 2007 was a record year for me, our normal winter "down time" was much appreciated. I am still working on my files! I have also hired an assistant (after 24 years). Unfortunately, he is my son and I'm still cracking the whip and hope we can get synched. He's doing all the drudge work I hate doing and keep putting off. This is giving me time to reflect and get my act together for what I hope is another record year for me.