Adam Watkins

REALTOR Talk for June

Somehow I've managed to get majorly behind on updating the blog.  So, here's the REALTOR Talk column for June - which was actually published the first week of July in the 'Hattiesburg American.'  Maybe you were able to read it there.  Feel free to comment. 

REALTOR Talk – June 2008

By Adam Watkins

TITLE:  “’Thinking Small’ often brings clarity”

Think small.  That’s certainly not an idea you hear very often.  We’re told to ‘think big, dream big, act big.’  I must admit that thinking big is a lot more fun for me.  Maybe it’s a Napoleonic complex.  Maybe it’s the dreaming part that I enjoy so well. Who knows? I think it has more to do with what ‘big’ things represent.  It’s almost inherent as Americans to strive for the ‘biggest and the best.’  Whether or not biggest is best doesn’t necessarily matter.  You must admit that it’s propelled many of the previous century’s  most remarkable accomplishments:  perfecting jet travel; the development of a space program that placed men on the moon, not once but several times; planning and constructing the largest skyscrapers in the world and more.  Sometimes, though, thinking big causes us to miss critical details.  The cliché ‘missing the forest for the trees’ comes to mind.

Thinking small is a valuable concept when considering real estate, actually.  Mind you, I don’t mean the literal ‘size’ of the real estate - be it a home, a piece of land, or commercial space.  Instead, consider thinking small as you evaluate the barrage of information concerning real estate markets.  Our tendency to think big causes us to ignore some of the critical elements that influence our local economy, and ultimately our local housing markets.

How does thinking small relate to our real estate markets?  First and foremost, it’s important for us to recognize that real estate markets function on a local level (small) and not on a national level (big).  As a culture we tend to want the ‘bottom line’ and it’s often how our media is trained to communicate with us – in sound bites and generalities.  However, such generalities often leave us with a less than complete picture because the local real estate market may or may not match up with “national trends.”  Such is the case with the Greater Hattiesburg Area and many other localized areas around our country.  Ultimately, even if a market is exhibiting characteristics of growth, regression, or balance, the overriding reasons behind those characteristics are predominantly influenced by forces at work within the local economy.   Furthermore, even within local markets there are sub-markets with both independent and interdependent influences.

Let’s use the HubCity as an example.  The Greater Hattiesburg Area is considered our local market, but within it are numerous sub-markets including areas like Northeast Hattiesburg, Southwest Hattiesburg, Petal, Oak Grove, Sumrall, Purvis, Dixie, Columbia, Seminary, and many others.  Each of these sub-markets experiences changes in both supply and demand as well as economic influences that may or may not be duplicated in neighboring markets.  Further, an individual subdivision within a sub-market and even a certain street within a subdivision can develop economic characteristics that are unique to that sub-market at that time.  Obviously, thinking small is important as we interpret the messages concerning our real estate markets and it further underscores the importance of contacting a REALTOR who is aware of those influences within your ‘sub-market.’ 

So after ‘thinking small,’ I’ll share the bottom line. While it might be said that thinking big allows us to easily manage and understand issues and occurrences in our world, thinking small brings a sense of focus, allowing us to put things in perspective so we can better understand that ‘big picture.’  So as we take in the thousands of messages, both conflicting and complementary, may we be encouraged to focus at least some of our efforts on understanding the context of the various issues associated with those messages.   By doing this we’re better prepared to make decisions based on a more complete picture and less likely to react recklessly to generalities and sound bites that often fail to provide adequate context on a given subject.  This concept applies to our understanding of a variety of issues whether it concerns our economy, real estate market, sports, or politics – a deeper level of understanding is rarely something we’d prefer not having.  Here’s to thinking small!

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Adam Watkins presently serves as President of the Hattiesburg Area Association of REALTORS.  He is Broker Associate & Partner of The DeLois Smith All-Star Team, Inc. an affiliate of Keller Williams Realty.  You may e-mail him at adamwatkins@comcast.net.  To learn more about HAAR and it’s members, log-on to www.haar-ms.org.

REALTOR TALK: 'Under All is the Land..."

The following is a featured article I wrote for the 'Hattiesburg American.'  I've posted each month's writing since January when the series of articles began.  You might notice similar verbage to my recent post entiteld 'Fun in the D.C.,' which was the inspiration for the article. It was published Memorial Day, May 26, 2008 in the 'Business Section' of the 'American.' Enjoy.

This past week was a new opportunity for me, making my way to our nation's capitol as a representative on behalf of the Hattiesburg Area Association of REALTORS and the Mississippi Association of REALTORS.  Each May, our National Association holds mid-year governance meetings in D.C.  This year was no exception, but it was a special year.  The month of May marks the 100^th anniversary of the National Association of REALTORS.  Initially titled the National Association of Real Estate Exchanges, the National Association of REALTORS was formed in May of 1908.

In the early 20^th century states did not regulate the real estate industry or require agents to gain licensure to practice agency under the law.  You can imagine the problems this caused for members of the public and even other agents.  As our country grew, so did the problem.  Consequently, “real estate men,” as they were referred to at that time, organized what is now known as the National Association of REALTORS.  The Association was formed with the purpose of promoting fair and honest dealings with the public as well as with fellow members.  The association developed a “Code of Ethics” as a statement of conduct as well as policies to provide for the enforcement of the code. 

You see, it was the National Association of REALTORS that promoted licensing laws within the 50 states, and the REALTOR Code of Ethics served as a basis for many of the licensing laws now in place around our country and other countries.  Numerous other contributions included creating and regulating a method to share and disseminate active and sold property data through “MLS’s” (Multiple Listing Services) as well as promoting and supporting legislation that provides fair housing opportunities for all Americans.

So, in its 100^th year, a delegation of REALTORS from around the country met in Washington, D.C. once more.  While there we had opportunities to meet with our congressional delegation.  For me, that meant visiting the offices of Representative Gene Taylor and Senators Thad Cochran and Roger Wicker.  Our primary goal as REALTORS was to reinforce and maintain the support and commitment from our leadership to promote laws and policies that increase and encourage home ownership in our country, and to fight actions that would be detrimental to it.  For decades REALTORS have assembled in numbers and given financial support for these causes resulting in widespread homeownership throughout the 50 states and territories.

Our nation's history is proof that home ownership is a primary cornerstone of our society.  In fact home ownership is so synonymous with America that it's often referred to as "the American dream," and rightfully so since our country was the first to allow property ownership to all of its citizens.  As we review our past, it is clear that when families own their own home they are more financially stable and able to improve their lives.  That's why homeownership for all is such an important part of the health and vitality of our nation. 

In 2001, we saw just how important home ownership was.  After 9/11, our entire economy suffered a mighty blow.  Because of the strength of the housing sector, our nation’s economy was largely insulated from adverse factors in other sectors of the economy, and grew substantially more as a result of housing.  Now, even as other sectors of the economy remain strong, housing has struggled in various regions of our nation - and so has our economy on the whole. 

A simple deduction: housing is truly one of the most, if not the most, important segments of our economy.  When strong, our economy weathers other challenges; when weak, other segments of our economy can perform remarkably and have little impact on improving the economy.  Quite simply, housing is the key.  Through the housing market, jobs are created and sustained, and nearly all sectors of the economy are boosted.

Our role as REALTORS extends beyond the closing table.... to advocating and protecting our nation's most influential economic engine and the rights of all the “owners of the land.”  Markets are cyclical, and our goal is not to prevent markets from experiencing healthy cycles of growth and contraction – which are not only typical, but a necessary part of a stable and growing economy.  However, we can make our leaders aware of the role real estate plays in the grand scheme of things and in the meantime, support legislation that rewards and encourages Americans to enjoy the dream for themselves.

The Preamble of the REALTOR Code of Ethics begins: “Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and our civilization.”  May we endeavor to promote and protect such a worthwhile ideal.

Adam Watkins presently serves as President of the Hattiesburg Area Association of REALTORS.  He is Broker Associate & Partner of The DeLois Smith All-Star Team, Inc. an affiliate of Keller Williams Realty.  You may e-mail him at adamwatkins@comcast.net.  To learn more about HAAR and it’s members, log-on to www.haar-ms.org.

Meet my friends: Hot & Humid.

Memorial Day Weekend is one of my favorites.  Mind you I've somehow managed to work each Memorial Day for about the last 6 years, but it's not so bad.  Memorial Day is that exciting weekend that means summer has arrived...at least in Mississippi.  As a teenager it signified the end of the school year and the beginning of a summer full of youth trips and summer jobs.  It also signfied something else...heat.

Today was HOT!  I was showing several homes this afternoon and can personally testify to it.  And what would Mississippi heat be without the humidity?  In the Pine Belt the two go hand in hand.  Kind of like Laverne & Shirley, Lilo & Stitch, Batman & Robin, Laurel & Hardy....Hot & Humid are a dynamic duo of sorts.  They've earned their place in the public psyche much like other famous pairs. 

But you know what?  I wouldn't have it any other way.  I love South Mississippi for a lot of reasons...and even though we complain, I'm glad we have long warm springs, summers, and falls.  Since I'm not a huge fan of winter, I far prefer the alternative.  Gives me a good excuse to go swimming.  Hopefully I'll have an opportunity to do that tomorrow after church.  We're visiting Amelia's Uncle Johnny and family.  They put in a pool last year and I think we're going to "have" to take a dip.  Maybe you'll have a similar opportunity.

Happy Memorial Day!

Fun in the D.C.

This past week was a new opportunity for me.  I made my way to our nation's capitol as a representative on behalf of the Hattiesburg Area Association of REALTORS as well as the Mississippi Association of REALTORS.  Each May, the National Association holds mid-year governance meetings in D.C.  This year was no exception. 

I must admit that I love Washington...not because I see it as an ideal place, because it's not, but because of what it represents.  In Washington one can see the best and the worst of us, and in spite of our cynicism, its importance as the seat of government for the world's most powerful nation must be acknowledged.  What I find most interesting there is how "small" of a town it can truly be.  In politics...everyone knows everyone - or so they say....but you never quite expect it to play out that way.  Sometimes it's hard to believe that so much of what influences our country and our world happens there....on that small piece of ground.

While we were there we had opportunities to meet with our congressional delegation.  For me that meant visiting the offices of Representative Gene Taylor and Senators Thad Cochran and Roger Wicker.  Our primary goal as REALTORS was to reinforce and maintain the support and committment from our leadership to promote laws that increase and encourage home ownership in our country, and to fight actions that would be detrimental to it.

Our nation's history is proof that home ownership is a primary conerstone of our society.  In fact home ownership is so synonomous with America that it's often referred to as "the American dream."  And rightfully so.  As we review our past, it is clear that when families own their own home they are more financially stable and able to improve their lives.  That's why homeownership for all is such an important part of the health and vitality of our nation. 

In 2001 we saw just how important home ownership was.  After 9/11, our entire economy suffered - except for the housing industry.  Because of it's strength and resilience, our nations economy was largely insulated from adverse factors in other sectors of the economy, and ultimately grew substantially more as a result of housing.  Now, even when other sectors of the economy remain strong, housing is suffering - and so is our economy on the whole. 

A simple deduction: housing is truly the most important segment of our economy.  When strong, our economy weathers other challenges with ease; when weak other segments of our economy can perform remarkably and have little to no impact of improving the economy.  Quite simply, housing is the key.  Through the housing market jobs are created and sustained, and nearly all sectors of the economy are boosted.

Our role as REALTORS extends beyond the closing table....to advocating and protecting our nation's most influential economic engine.  Markets are cyclical, and our goal is not to prevent markets from experiencing healthy cycles of growth and contraction.  However, we can make our leaders aware of the role real estate plays in the grand scheme of things and in the meantime, support legislation that rewards and encourages Americans to enjoy the dream for themselves.

All the best,

Adam 

REALTOR Talk - April 2008

An excerpt from the Monday, April 28, 2008 edition of the "Hattiesburg American:"

"Children Raised, Games Played, Memories Made....at Home."

A weekend getaway.

Our family had the opportunity to spend this past weekend together in Orange Beach, Alabama.  My wife and I resolved in January to spend extended time with our immediate families before 2008 came to a close.  So far so good - by this summer, if all goes according to plan, this resolution will have been fulfilled.  It’s certainly a worthwhile endeavor.  As REALTORS, being out of town sometimes means time away from the business and productivity.  Most sales professionals experience similar challenges.  Obviously, balance in life and career must be achieved, but most full-time REALTORS find truly “getting away” a challenge.  Our dedication to our field of work is one we take seriously.  So, opportunities spent with family are precious indeed.

Family is extremely important.  As a native Mississippian, I think the value of family is one that has been instilled by our Southern culture in general and by our own families specifically.  Our lives are a collage of experiences – good and bad, happy and sad.  Some of the most memorable experiences in my life occurred at home – and thankfully the good experiences made a more significant impact in my memory than the bad ones.

Want to play a game?

Home is a special place to me because of the memories these experiences create.  It is because of these memories that REALTORS find selling “home” to families in our community a special privilege.  A house is easily built, but the family living there makes it a home.  Consequently, making a “home” involves so much more than simply analyzing the economic value of a purchase.  It’s unfortunate that many of us who work in the industry have simplified the purchase process to a purely economic one in some cases.  As a result many homeowners around our country have lost perspective on the benefits of “homeownership” in their totality.  Think critically about what you’ve heard regarding homeownership over the past year, five years, or ten years.  I think you’ll conclude that the vast majority of housing reports are data- and economic-driven only - with little recognition of why owning a home is truly special for Americans.

It is certainly true that economics play an important role in home purchasing decisions – after all, a home is your largest monetary investment.  And economic data is easily quantifiable and reportable when compared to defining the “meaning of home” to millions of Americans, but is it truly the most important thing when compared to the children raised, games played, and memories made within those walls known as “home?”  Speaking honestly, I must admit having forgotten how important that sense of place is – often boiling my decisions down to purely monetary terms.  Ultimately, 5 years later the value of the home includes not only the monetary benefits of having owned the home, but the joy of having lived and created memories there.  Certainly, there is value in those created memories, and it’s refreshing to hear many of our purchasers realize and recognize that element of value once again.

For the ‘market’ junkies.

And now, in contrast to some of these idyllic concepts, I’ll share that the Greater Hattiesburg market is in the throws of an active spring market cycle.  As expected, buyers are taking advantage of extremely low interest rates leading to increased selling activity across our market in general.  Consequently, standing inventory/supply levels are working their way downward and are expected to continue doing so throughout Summer and Fall ’08.  There are still excellent opportunities for purchasers.  Your REALTOR is ready and able to counsel you on what an opportunity looks like for you.

If anything has been proven in our present economic cycle, it is that real estate markets react to conditions created within the local economy.  That has certainly been the case in our local market.  Greater Hattiesburg remains blessed with a diverse combination of employers who maintain the potential and probability of sustaining and growing our area’s employment base.  With these stabilizing factors in place, homeowners in our area continue to enjoy both the economic and emotional benefits of homeownership now and are expected to continue doing so in the future.

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Adam Watkins presently serves as President of the Hattiesburg Area Association of REALTORS.  He is Broker Associate & Partner of The DeLois Smith All-Star Team, Inc. an affiliate of Keller Williams Realty.  You may e-mail him at adamwatkins@comcast.net.  To learn more about HAAR and it’s members, log-on to www.haar-ms.org

April 2008

Well, it's official. Lowe's is setting up shop in the Friendly City.  Earlier this month the Petal Area Chamber of Commerce and the City of  Petal confirmed what many of us had been hearing recently. In the next several months a lot of "earth moving" will occur behind Chili's restaurant off of the Evelyn Gandy Parkway to create level ground on which Petal's newest retailer will begin construction. Other projects are planned closer to the Parkway - including a shopping center being developed by York Development. Petal truly is growing. However, we always want to remember the suppliers and retailers that have made our community special. While the location of a second Lowe's to our area validates the growth of Petal, there are other local suppliers who have brought our area to the place it is now. It's certainly important that we keep them in mind as well when we make our purchasing decisions.

Easter was a lot of fun. Our choir at Carterville Baptist presented a musical entitled "I've Seen Jesus." It was a refreshing approach to the Easter story that focused entirely on the time Jesus spent on earth following His resurrection. Consequently, we presented it the Sunday following Easter. Amelia and I have sung in our choir for years, and this was one of the most enjoyable presentations we've had the privilege of serving in. Kris Smith, our Minister of Music & Worship - who also happens to be a past client of ours - provided great leadership during the entire experience. We certainly had plenty of practice! I think we practiced no less than 8 times in the two weeks prior to the presentation. Focusing on the resurrection of Jesus was a reminder of why his sacrifice was the most unique and important one ever made.

Market-wise, we continue to see our standing inventory work it's way down. This means supply levels are beginning to settle in some of our price ranges. Our level of inventory is about where it was in August of 2007. Only now we're heading in to a Spring market (characterized by higher activity levels) as opposed to a Fall/Winter market (typically lower activity levels). Contrary to the headline of the "Hattiesburg American's" Wednesday, March 26, 2008 edition, "Housing Prices Plunge 11%", housing prices in Greater Hattiesburg continue to remain relatively stable. What the "American" failed to give in the headline of their article was context - since the areas where the prices had dropped were taken from major metro areas hundreds of miles away from Hattiesburg (i.e. Miami, Las Vegas, Detroit.) This juxtaposed with a story they ran only a few weeks ago that actually predicted price appreciation for Greater Hattiesburg in 2008 based on predictions by a national housing analyst.

There are many mixed messages out there, and it's unfortunate that our local media outlets are sometimes reckless in their portrayal of a news item. We must remember that real estate economies are LOCAL economies and locally we have great selection for purchasers, historically low rates, attractive terms, and an historically stable local economy. These facts combined with the fact that real estate in our area has been historically undervalued when compared to cities in the Southeast region of similar size and economic factors, provide further long term strength for our largest investments - our homes. There really hasn't been a better time in recent years to buy or build a home. So, when you're ready to make that move, we want to be the first professionals you call.

All the best,

Adam

REALTOR Talk...

Below is the March 2008 Column of REALTOR Talk that I'm presently writing for the "Hattiesburg American" on behalf of the Hattiesburg Area Association of REALTORS.  You may have read it in the Monday, March 31, 2008, edition of the "American."  I found myself frustrated once again with their choice of title.  Choosing to ignore the title I provided, they instead produced a title that completely missed the general point of the article.  Inserted in this entry is the complete article along with the title that was originally provided.  Hope you enjoy.  As always, comments are welcome.

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REALTOR Talk

March 2008

By Adam Watkins

“Pollen, Purchases, and Prices.”

Bring on the Pollen.

“Have you enjoyed the snow?”  was my initial greeting to a friend who called last week.   Of course he was dumbfounded, and said, “What snow?”  My response was, “It’s snowing pollen!” 

Spring is announcing itself loud and clear in the Pine Belt, and one of the most visible signs is the greenish-yellow hue in the air, on your cars, on your porch, and in your sinuses!  It’s a blessing living in the Pine Belt, but the sheer number of pine trees in our region compounds the pollen issue this time of year.   I suppose you could consider it a trademark of Spring in our area, but I would prefer to recognize more endearing trademarks such as spring baseball, trips to an area lake, longer afternoons…and, for REALTORS in our area, the flurry of buying and selling activity which typically occurs each year around this time.

On the subject of spring activity, the Greater Hattiesburg Home & Products Show and citywide REALTOR Open Houses were a success.  Many area service providers displayed and promoted their field of expertise.   REALTORS were available to answer attendees’ questions and invite them to approximately 300 open houses during the weekend to see what’s new and active this selling season.

Buyers need a representative.

If you’re in the market to buy a home, selecting a knowledgeable REALTOR that you feel comfortable representing you is an important first step in a home purchase.   Your chosen REALTOR will provide you with the highest level of buyer agency services throughout the entire process of the sale - from assisting with financing, negotiating a purchase offer that protects you, and showing you any home available in the marketplace.  Since REALTORS share their listings with one another, your REALTOR can show any available home.  Furthermore, selecting a REALTOR as your representative for a purchase gives you the opportunity to develop a relationship of trust, whereby you gain quality feedback and professional service throughout the entire process.  The best part is - the compensation for these services has typically been arranged by the seller ahead of time.

What many purchasers don’t realize is that they are able to request the same services of a REALTOR that a seller does.  Most members of the public understand that sellers can enlist the exclusive services of a REALTOR by a written agreement to list their property (“Exclusive Right to Sell”) – implementing the highest level of representation of their REALTOR possible.  Buyers in our market can make the same request through a similar agreement (“Exclusive Right to Buy”).   Making such a commitment better solidifies the agency relationship – which includes care, obedience, accountability, loyalty, and disclosure - between the REALTOR and the purchaser.  Furthermore, most agreements have reasonable terms that provide for termination should the parties desire.  So, when the time is right for you, consider interviewing a REALTOR and taking full advantage of what is often a complimentary service to purchasers by requesting an exclusive relationship in writing.

Lower rates create a built-in “price reduction.”

Did you know that every .05% decrease in average mortgage rates creates the equivalent of an approximate 5% “price reduction” in properties across the entire market?  It’s true.  Based on payments over time, the interest savings alone equates to paying approximately 5% less on the total purchase price.  Mortgage rates continue to hover at record lows, meaning less money out of the purchaser’s pocket.  When combined with tax deductibility of interest, the probability of long-term value appreciation, and the immediate savings on interest payments, the total benefits are further compounded by the joys of home ownership.

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Adam Watkins presently serves as President of the Hattiesburg Area Association of REALTORS.  He is Broker Associate & Partner of The DeLois Smith All-Star Team, Inc. an affiliate of Keller Williams Realty.  You may e-mail him at adamwatkins@comcast.net.  To learn more about HAAR and it’s members, log-on to www.haar-ms.org

Can you say "OUTNUMBERED?"

I was reminded, and somewhat concerned on Tuesday of this week during a conversation with Amelia that we were hosting a DiscipleNOW group from our church this weekend.  Several weeks ago Amelia made mention that our home would be bombarded by a group of students, but the time seemed to be well into the future, and I didn't make it a point to remember the date.  When she brought it up Tuesday, however, the invasion was much more imminent.  What made it more unnerving was the limited amount of details we had concerning who we were hosting, how many people we were hosting, what our responsiblities were, etc.

DiscipleNOW is an annual tradition at Carterville Baptist Church where students spend several evenings in worship and Bible study and participate in group ministry projects.  Some of this time involves sleeping over at an area "host" home where a small group engages in fellowship and discipleship with an assigned group leader.  [I use the term "sleeping over" loosely as the night rarely involves any amount of sleep whatsoever.  Since students often possess boundless energy, the general goal typically involves staying awake as long as humanly possible and in general creating as much havoc as possible (if it's a boys group) and/or uncontrolled giggling and screaming as possible (if it's a girls group).] 

All in all it's a lot of fun, but you can understand why one might be concerned...especially if you possess few details as to who you might be hosting or what you might be doing as a host which was the scenario Amelia and I found ourselves in.

Carterville is blessed with so many caring people, many of which lead our sizeable group of students.  At the helm of this group are Jeremy Stroo and Chase Coleman:  Two young men who are presently serving as Interm Student ministers - Jeremy as High School Minister and Chase as Middle School Minister.  Both possess the endless gifts needed to serve students, the most important being the gift of love.  One of the gifts lacking, as we found out this weekend, would be the gift of COMMUNICATING THE PLAN.  LOL! 

We finally found out Friday evening - upon our arrival to pick up our group - who we were truly hosting: 

10 females. 

That's right. 

TEN. 

All girls. 

At my house. 

All night. 

Lots of make up. 

Lots of giggling. 

Lots of hair styling equipment. 

Needless to say, estrogen was an abundant horomone in the Watkins household.  As the lone possessor of testosterone - Amelia tells me females possess testosterone, but you get the point.  Anyway, I found myself clamoring for silence...without avail of course....but clamoring for it nonetheless.  For all the talking I'm required to do in my profession, home is a place of silence and reflection for me.  In general, Amelia carries the conversation at home.  Neither of us were needed to carry the conversation this weekend.  The girls had it covered.  At least I suppose it was conversation.  Females possess an innate ability to carry on multiple conversations at once.  They often take pride in demonstrating this in mixed or non-mixed company.  As men, we're interested in hearing a message, understanding it, and then following with a response, as that recipient listens and then follows with a response.  Quite a different dynamic...especially when involving a group of 9th, 10th, and 11th grade girls.

All joking aside, "our girls" truly were a wonderful group that I found myself quite proud of.  They treated one another with respect and demonstrated spiritual depth and maturity in so many ways.  Yes they giggled....a lot...but utlimately it was a wonderful sound.  It was also a great reminder of what's special about being a teenager - that time of life between dependence and responsibility - that we only have a chance to experience once in a lifetime.  We were blessed to serve in such a capacity this weekend. 

So to Raven, Maggie, Tiffany, Hillary, Mallory, Alex, Morgan, Carrie, Olivia, and Erin we hope you enjoyed your stay at Hotel Watkins.  You're welcome back again anytime...(though reservations are preferred :)...even if I do have to use my earplugs to finally get to sleep at 3 AM!

Petal at a Glance - March

The following excerpt is from the monthly column that I write for our team's monthly newsletter, STAR CHAT.  Typically I focus on Petal items as well as market conditions in general.  I'm posting this one a little late in the month.  My apologies.  Enjoy.

Every year around this time I'm reminded of why it is that I enjoy warmer
weather.  For one, buyers get more active!  It's true.  We're blessed with a
moderate climate which makes buying and selling of real  estate an all year
event in our market.  Nevertheless, cooler weather and shorter days do play
a role in slowing the market to some degree.
And let's face it, the Holidays are a very important "distraction." Then
spring comes, and people begin engaging the market more actively. While it's
still early to tell, we continue to see signs of increased activity in our
marketplace.  It's true that some of our price ranges
will take some time for inventory levels to adjust, but overall our market
is behaving in ways similar to previous years.

One thing is for certain though.  The need for well priced, well maintained
housing is always present.  Regardless of the time of year or time in the
market cycle, our basic need for shelter remains.  With this in mind, I
think we can begin to think more critically about the media influences that
we hear daily regarding real estate markets around the country.  Notice the
reference to markets in the plural sense.  I say this particularly because
of the misperception or assumption that the real estate market is national
in nature, when in fact, it is local. Local economic factors determine the
health of our "local" real estate market most.  It's important to keep this
in mind in order to better understand the information provided on the
subject of "real estate."

In Petal we continue to see signs of growth that will provide long term
viability to both the commercial and residential markets in the area. Some
of our new construction markets have seen oversupply in recent months, but
we expect those to balance as consumption continues and production slows.
By third quarter I expect we'll see a better balance  in regard to many of
our price ranges.  Longterm, however, the need for new housing units not
only for single family, but also for more specialized products such as homes
for working professionals, retirees or "empty nesters" will likely grow.
Since Petal is multi-generational community, the housing needs will also be
multi-generational in nature.

It might be interesting to note that Deborah Reynolds of the Petal Chamber
of Commerce made a recruiting trip to Birmingham, Alabama this month
promoting our area for further commercial development.  Many projects -
large and small are on the drawing board for the area.  When we are able to
elaborate on these projects, we certainly will.  It certainly is an exciting
time to be a part of this community!

All the best,

Adam

Leap Year Gift.

I could not resist the opportunity to make a blog entry on February the 29th...a day that only makes its way around once every four years.  So....Happy Leap Day to all of you.

When you think about Leap Day, it really is strange isn't it?  Oh you've heard the people who have birthdays on February 29th.  They quote their age with such pride: "I'm only 8 or I'm only 12 or 16."  Of course multiplying by 4 tells the true story, but it's fun just the same.  The fact that we only see it every 4 years means that the average person will only experience it about 18 times in their life.  As compared to the other days on the calendar which we see each year.  What a special day it can be if we make it that.

I look at Leap Day as a gift.  An extra day that we are given to do something new or make something happen.  This year...there are 366 days to accomplish any goals or plans you set forth in January.  An entire extra day on the calendar.  How will you use it?