About Me

Grew up in Nashville - Montgomery Bell Academy (1981) then Centre College of Kentucky. 1985 Engineer officer in the US Army (National Guard) until 1993 -floating bridge M4T6 company in West TN. Real estate 1993. 2001, Deb & I joined forces with other REALTORS to bring Keller Williams Realty to Middle TN. studied Organizational Transformation - Open Space Technology OST. Principal Broker & Productivity Coach of KW Green Hills & work with Debbie & other members of our team serving clients' needs. We live in Nashville with our 3 children - Tyler, Jessica, & Allison. My focus is on helping agents find BALANCE in their lives - Build Careers worth having, businesses worth owning, and lives worth living - with one-on-one coaching & accountability. Models & systems of the "Millionaire Real Estate Agent." The Owen Group is a team of REALTORS fully equipped to serve clients. With depth, training, business models, and systems to handle any Real Estate project from a first time Buyer to developing and implementing strategies for larger development projects.

Saturday, April 28, 2007

A 3 Marathon Champions Family

I'm not sure I totally understand why a rational human being would want to subject him/her self to the rigors of training for a marathon . . . much less actually doing the deed of running 26.2 (or 13.1) miles along with 30,000 other similarly minded people. This involves many early morning, mid-day, late afternoon runs in all sorts of weather. Commitment to the training is essential for success on the day of the event. Even more mind boggling is that an "average time" for the 13 mile 1/2 Marathon is in the neighborhood of 3 hours (Deb crossed the finish line in a bit over 2) . . . But when I was a younger man, I took great pleasure in jumping out of perfectly good airplanes and did everything I could to get myself trained in the Military to be "qualified and ready" for combat anywhere in the world.

What's going on?

There's a very real pleasure and satisfaction when we accomplish something spectacular. Each of us has endless opportunities to do just that every day. The true challenge is not so much the accomplishment of the task itself - I believe it is more our willingness to commit, to take responsibility by accepting life's challenges and living with GUSTO! I'll never forget one of my Army Engineer Officer Advanced Camp Cadre Commanders who would always say: "I hate QUITTERS and WIMPS!" That's a pretty strong message, but what it always boiled down to was ACTION. Those who had the habit of self-pity, "I'm a victim" behavior . . . complainers . . . ducking their heads to avoid eye contact when a volunteer was needed . . . and those who refused to actually join the team and contribute in a meaningful and active way were the ones who got NO respect from this officer (or from anyone else). Even worse, were those folks who were naysayers - griping and complaining about their misfortunes - pointing fingers of blame - and allowing their own negativity to permeate the environment. This is simply "Team Pollution."

Often as a leader in the military, I was frustrated by the apparent need to keep the "retention numbers" strong in the Army . . . Frequently, under-achievers were passed through the system regardless of their ability or willingness to perform. It was easier for the leadership to pass them on then to confront their issues. It is also this way in the civilian world. All of this comes to mind for me as I am now reading Colin Powell's autobiography My American Journey written with Joseph E. Persico. This book is reminding me of much of what I learned while in the military. It is bringing me back to where I came from with respect to leadership beliefs, bearing, and professionalism . . . and it is reminding me of the importance of THE MISSION. After all, we are in lives of ongoing missions. The Primary mission is what I have called "Life Purpose" . . . This is the BIG ROCK . . . "Why am I on this planet? What is my purpose?" Throughout our lives, we are assessing opportunities and choosing "subordinate missions" . . . We are navigating our personal "Way" daily.

As I read Colin Powell's story, I am finding myself walking through VERY familiar territory. His ROTC path was very similar to mine . . . His experience was parallel to mine even though I was 20+ years behind him. It was during the period of time that I was in the Army that things began to change to the more "modern way." As a cadet, we were still eating the old C-Rations. This was canned food. We needed our issue -p-37 to open these cans . . . EVERYTHING was in a can - including the crackers which tasted a bit like baked concrete. None of this food was exciting but after a few days in the field it all tasted great. We learned of many creative ways to improve the taste - ways which included learned how to cook meals on the engine block of our vehicle. Each of these cans had a manufacture date . . . and most of the cans I consumed were dated in the 1940's (40 years prior). We were still driving the old, classic 1/4 ton jeeps . . . also made in the 1940's . . . and the deuce and a halfs . . . and the 5 ton power-horse trucks . . . and hearing the hueys flying overhead . . . and wearing the olive green uniforms. During the 12 years I was in the military, the MREs (Meals Ready to eat) appeared. These were meals in plastic bags that actually had flavor. They were very disruptive because they were more portable and easier to eat and tasted better . . . but they were DIFFERENT. We could easily stuff these into our cargo pockets of the NEW Camouflage field fatigues . . . and all of our field recipes were suddenly unnecessary. A whole level of training (how to eat well in the field) was no longer necessary.

The army also made a shift to attempt to replace the 1/4 ton jeeps. The first effort was complete failure. that 1/4 ton Jeep could literally go ANYWHERE and rarely broke. The replacement was this new kind of vehicle called an SUV. We had a whole fleet of these brand new Chevy Blazers when we went to Panama . . . 3 weeks into our mission, we had a new name for them . . . They were our "radio outposts" because most all of them had mounted radios . . . and most of them were either broken down or stuck in the mud along the side of the road. If we ever needed a radio, there was always a stranded Blazer close by. The panamanian locals and PDF (Panamanian Defense Force) loved these Blazers because these folks could wander up and down the roads with their fuel trucks and siphon the gas out of all of the stranded ones. Just as i was exiting the military, the HumV came along . . . This was the HUMMER . . . and it was AWESOME, but I didn't get to play much with it . . . a whole new breed of other interesting vehicles and weapon systems also appeared during this time (early 1990's)

Anyhow, the changes continued - Battle strategies etc. The army learned as it went. What struck me about all of this is that the technology and tools had literally been "stagnant" since WWII . . . and then literally EXPLODED in the '80s. Colin Powell's book brings back many memories. I will write some more in future posts. I particularly enjoy stumbling upon unexpected golden nugget quotes from Colin Powell. He was obviously a tremendous military leader.

Best,

b
Barry Owen
www.theowengroup.net
Simply Living the FourFold Way in Open Space!

Friday, April 20, 2007

Busyness . . . Again . . .

There's this image from my childhood that sticks in my mind. As much as I have tried to, I cannot seem to be able remember much about my elementary school . . . That is, I don't remember much about what I did on the inside of that building . . . Other than my favorite teacher Ms. Seay (2nd grade) . . . but little to nothing about the class work and the other people. What I remember most about those years was the afternoons. I remember dismissal from school. I remember walking down the back walk-way of the school(Which is still there - but the school building is now gone and replaced by a green park) with this exhilarating feeling of FREEDOM . . . The student crossing guards (I was one of them my last year at the school). I remember the warm air and the sounds of the birds and smells of the out-doors. I remember walking up the hill towards my house. Sometimes, that hill was bigger than others depending on the heat (or cold) of the day. We lived just a block away. I would get home and toss my books aside and turn around and head back out the door for an afternoon of exploring in the neighborhood. There were the usual neighborhood kids, and we would create all kinds of fun and interesting games as we tunnelled our way through the rows of bushes lining the yards. We could literally travel 3 blocks without being seen. We had forts and hide-outs - Craw-dads in the creek . . . Pick-up football, Basketball, baseball, tennis . . . knock and run . . . HOURS of riding bikes . . . playing with the dog . . . cookies at the Webb's house (Frozen chocolate chip cookies) and the only payment we had to give was 10 minutes of good conversation in a nice cool house.

Those childhood memories are of simple times.

The only television we saw was when the weather was bad and we could not be out-doors. The only place to go was an occasional piano lesson or the swim club in the summer. Mom wanted us each to have 2 years of piano lessons.

As I reminisce, I consider the lives of our children in the year 2007. We have 3 children. 2 are in elementary school . . . for direct comparison sake, I look at their experience and compare it to mine (40 years ago) . . . WOW! There's quite a difference. These kids have SO much to do. It seems that their school responsibilities are 10 times those that I faced. There are times I look at the girls and wonder why they need to experience this level of stress at this young and impressionable age. I hear myself telling them frequently: "Hurry, or we'll be late!" and I wish there were more times that we're saying: "Take all the time you need - RELAX!

BUT . . . Many of their friends are in "after care" at school until 5 or 6 PM. We tried it and didn't like the impact it had on them. By the end of the week, there was more irritability than we could tolerate . . . all attributed to fatigue. We now bring them home at 3. This actually tends to give them more of this unstructured out-doors play but tends to be difficult for Deb and I to "manage" because we are both trying to finish the work day . . . and then we are dealing with the extracurricular activities - Dance - Basketball - La Crosse - Brownies - Church school . . . BUSY BUSY BUSY!

Fortunately (for me) Deb does a fantastic job keeping these "responsibilities" in order. It really is a full time pursuit just being sure that we can get each child in the right places at the right times. When each of the 3 has a place to be all at the same time, we are beyond "spread thin." We make time for them. Sometimes our work suffers a bit. We know that it is ALL worth it. We could make more money and find greater success faster if we were to steal some of this time and attention from our children (family). We believe this is "missing the point" of having a family. Our responsibility as parents doesn't end with the delivery of the baby - That's where it begins. We have @ 18 years to do whatever we can do to teach our children to take care of themselves out there in the great big and complicated world ... to love - to know safety and recognize danger - to take personal responsibility for personal passion - to be truthful - to be interdependent - to find their own individual way - to know that whatever their path, Mom and Dad are their greatest cheer-leaders.

With all of this in mind, we are acutely aware that Tyler is soon to "leave the nest"... Jessica is @ 1/2 way there . . . and Allison is not far behind Jessica. Certainly, we find our family peace most at those times when we collectively "get" our responsibilities as a family . . . and then we also know that as our "work" unfolds, the world becomes a better place.

I am appreciative and humbled to have this honor of being a parent.

Best,

b
Barry Owen
www.theowengroup.net
www.theowengroup.biz
Simply Living the FourFold Way in Open Space!

Thursday, April 19, 2007

Did I miss the memo? What happened to "Freedom of Speech?" . . . and more

What Imus said was in poor taste. LOTS of what Imus says is and has ALWAYS been in poor taste. That's what kind of show Imus does. I have never listened to his show, but I understand from listening to the rational folks he has interviewed that he is one hell of an interviewer. He is GREAT at what he does. His style is abrasive and often verbally offensive. His listeners listen to him because he IS abrasive and verbally offensive. Those who dislike his way have full opportunity to change their channel or turn off the radio. The constitution of The United States of America provides for "Freedom of Speech." Does it say: "Freedom of speech as long as it does not offend any of the inhabitants of the country"???? Did I miss the memo?

Are we continuing down the path of "Plain Vanilla America?" Do we want everyone in our country to conform? Are we critical of anyone who is not "mainstream" in their thoughts and actions? How is this different from Racial, Gender and/or religious bias? Sure, we want everyone to comply with the laws. That's fair and necessary! But I see NOWHERE in the rules of our society for all people to conform to mainstream thought. Truth is, there are many people "out there" who I consider to be completely off base with their thoughts and practices . . . Many of these are politicians or media . . . all of them have the right to speak their minds . . . and many have a large and very public audience. Just because I do not agree with their positions doesn't mean I don't listen . . . I might just just slip up and learn something . . . and or discover something of interest that may bolster my own position - that is - substantiate (to myself) my opinions/beliefs.

So, I am of the opinion that this practice of public persecution of folks like Imus and other "High Profile" people who "snap" and actually speak their minds in a public forum is idiocy. Perhaps this is a product of our media's incessant need for "material." After all, if there's no viable news to report, let's see what we can do to isolate a public figure who has mis-spoken and let's destroy his/her career as best we can. Certainly if the media says a person has violated his/her position and said the wrong thing, then it must be so, and we must all band together and discipline the hateful culprit . . . and by all means, his employer had better discipline him and/or fire him for his transgressions lest the media and its audience turn on the employer and condemn them all to irrevocable purgatory.

Oh yes . . . and the story must get "big enough" that it can consume enough time and attention to warrant use of air-time until another interesting aberration is discovered . . . or a real significant news event emerges . . . such as the "Virginia Tech massacre." While I'm on my soap-box, I might as well wax poetic about my thoughts as I watched that whole thing unfold.

I first heard of it when I received a telephone call from an agent in my office. His call related to a contractual issue with a deal, but began with reference to "the mad-man shooting up the Virginia Tech campus" . . . Because news is so accessible, I clicked on my comcast icon and saw the initial story which really had very little detail. Seemed everyone was totally confused about what had happened and why. Were there 2 shooters or just 1 who killed and went for a cup of coffee and then decided to go out and kill some more . . . AND the "officials" were not releasing ANY details about either crime scene. The media had ALL day to imagine scenarios and interview "experts" who could spin yarns about what could have happened to lead up to what happened. My first reaction to this media hype was that there was virtually no emotion displayed. The energy was very flat. My perception was that everyone was just numb to emotions but that it was a huge story, therefore; they felt the responsibility to continue to roll the cameras whether they had anything of substance to say or not. This was completely different from my recollection of the Columbine shootings . . . I remember those reportings were very emotional . . . The reporters AND the officials were all in tears throughout the broadcast. I didn't get that sense this time.

When there was no real information present, I saw the media go in 2 directions. The first direction was to IMMEDIATELY begin judging the way the University Officials handled the incidents. "Why did they not shut down the school into lock-down after the first incident?" and the second one was the most unbelievable and disturbing one for me . . . The media was actually grabbing every student they could get and interviewing them live on international television to ask them what they are hearing among the student grapevine. The media's only source of information was hearsay from the student body. This created a spectacle which (for me) appeared "circus-like" . . . The media approach was for entertainment and/or ratings . . . and was NOT about accurate reporting.

Of course if I'm going to criticize the media (I learned in the Army that you never present a problem without offering a solution), I should offer some semblance of a solution. If there is nothing to report, perhaps the decent path to travel is to return to "regular programing" and interrupt this regular programming with "up-dates of breaking news" as the news breaks . . . instead of imagining and criticizing and creating fear and doubt with endless "shouldas and couldas."

Cho did a horrific thing. I just finished reading this morning's article about his recent history of visits to psychiatrists and mental health facilities for evaluation of his "twisted" behavior. I also learned the REAL news that what he did with his "coffee break" was to go to the post office to mail a package to NBC news - He had the wrong zip code, so his overnight delivery took 2 days. This action was a true gift to all of the people affected. No, it did not bring any of those 33 people (including him) back to life, but it does offer some form of closure. There will never be any justification for this horrendous happening, but there is now a known "reason." This guy was mis-understood writ LARGE and has been for many years. I am expecting the media to scrutinize every morsel of information they can gather and then to turn it upon those people who had dealt with Cho in the past and had recognized his mental illness but had not stopped him from doing what he did. Just think . . . If we as a society decided to corral every mentally disturbed member of our population to be sure he/she doesn't do some horrendous thing . . . Who would be left walking the streets?

There is NO way to anticipate the behavior that Cho showed the world a few days ago. This has NEVER happened at this level . . . EVER. If we were all omniscient (or even some of us), we could potentially have preempted Cho's strike . . . but I haven't had the pleasure of meeting an omniscient person. Cho did what he did . . . acted solo . . . planned carefully and meticulously . . . had a defined "exit strategy" (Shot himself in the head immediately when the police breached his barricade - The chained front doors) . . . and all I can say is that he at least had the decency to make his grievance known . . . even sent it "over-night" delivery. Of course, his justification is not going to EVER make sense to anyone but him . . . There can be no justification, but there CAN be a reason. Often tragedy happens, and the victims never know the reason.

Cho also did the media a huge favor because they now have enough fodder to entertain their "public" for months as they dissect Cho's manifesto and scrutinize every living being who ever came into contact with Cho . . . and dig and dig and dig to find someone to persecute for Cho's actions . . . that is . . . until another celebrity swallows his/her foot.

Coming soon . . . Some ideas about our BUSYNESS in today's world and how we're all coping with it.

Best,

b
Barry Owen
www.theowengroup.net
Simply Living the FourFold Way in Open Space!

Sunday, April 15, 2007

The Trigger Effect

James Burke did a series in the late 1970's that relates directly to my previous post. I just watched with fascination the clip "The Trigger Effect"... There are other videos at the same link. I recommend taking some time to view these . . . and I thank the person who offered this pearl.

It's a cold and rainy Sunday here in Nashville.

Best,

b
Barry Owen
www.theowengroup.net
Simply Living the FourFold Way in Open Space!

Saturday, April 14, 2007

So what if the lights DO go out?

Not to be an alarmist, but more along the lines of facing a stark reality as I sit here on a Saturday morning typing on a computer which is connected to the internet as the girls watch a movie on the TV in our warm house on a cold and rainy day . . . Deb has gone to the store in a car that runs thanks to myriad electronic chips and synapses. The fundamental "provider" of ALL of this "luxury" is electric power/impulses . . . Transfer of information through wires and the air . . . transmitters and receivers . . . all fueled by electricity.

What if something catastrophic were to happen, and the supply of electricity were to suddenly cease? Do we take these luxuries so much for granted that we would be "helpless" in the face of the natural surrounding environment? Certainly, we could entertain ourselves without electricity . . . Of course, we would have to re-learn the card games and board games we all played before the electronic world gained control of our collective brains. This would not be a survival issue. Our kids can entertain themselves with darn near anything within reach.

Complexity . . . I thought of our cars . . . Most are fueled with gasoline . . . but serviced by electricity. If your car stops working properly, you take it to a mechanic who plugs it into a diagnostic machine which interacts with all of the chips and on-board computers to identify the problem and instructs the mechanic as to how to correct the problem. Interestingly in some respects, the same goes for medicine - When we're sick, our medical care in large part relies on electricity. Lights go out - Diagnostic machines cannot operate - cars/bodies atrophy.

You probably cook your food on electric appliances - Microwave - A refrigerator keeps your food fresh . . . Absent electricity and we're back to square 1 . . . How quickly would you be able to adapt? Where would you find food? How would you provide for your family?

The FDA scrutinizes and controls the quality of all foods and medications in our modern world. This is good in the sense that it protects us from contamination . . . but what about our natural antibodies which grow stronger as they are exposed to more contaminants/invaders? . . . Take away the threats completely, and guard is down - the firewall becomes thin and penetrable.

The media and all of our complex communication devices and capabilities (also fueled by electricity) have created an interesting stew. The world is a very small place now. With a click of a button on my computer, I can have a live video conference with multiple people around the world. My Father lives 500 miles away, and I am able to talk with him daily and see him with video connection through the internet. We are all amply enabled by electricity . . . and have found a level of complacency which verges on irresponsibility . . . What if the power source were to cease?

A few posts back, I spoke of our shift from a Production oriented society to a consumption oriented society. I challenge you to pay attention every day to those little stickers on everything you buy - Those stickers that say: "Made in ______" . . . How many say: "Made in America" ???? and how many say: "Made In China?" and what does this mean to us? Are we a nation dependent upon the manufacturing/production of other countries? If China (or other major importers to the USA) decided to cease production, how would that affect us? Certainly our way of life would face immediate discomfort.

All of this is not to proselytize doom and gloom as much as it is for the purpose of advocating a level of self-preservation. Complacency leads to unnecessarily tragic pain and suffering in the face of emergent anomalies. We are in a reactive and complacent mode. Like when you have a leak in the roof of your house, you think about it when it's raining . . . but cannot fix it because it is raining . . . When there is no rain, there is no leak so you don't fix it even though that is the only time you can . . . Capiche? :-) . . . Mother Nature makes a mess of things and your electricity is down for 3 weeks . . . and what if the electricity in your entire city were to go on the fritz?

I think where I am going with this is the need for at least some rudimentary survival skills. We all have survival instincts, but I see these being trained right out of us with this seemingly never-ending abundance lifestyle we are experiencing. Wouldn't it make sense for us to at least have a few week's supply of non-perishable food stock-piled . . . as well as the basic needs for survival? Perhaps fuel and water and fire-starters etc? No need to go over-board with under-ground bunkers and all that, but I think it would be sensible to have some form of readiness.

Communities could also think about being prepared for such emergent. Most communities DO and have plans for disaster relief. When I was in the National Guard, most of our training applied directly to the preservation/restoration of our way of life in the face of disaster whether it be war or natural. My post here is talking mostly to families and neighborhoods . . . Prepare yourself to adequately take care of yourself & your family so you are not reliant upon the community or government to provide for you in the face of disaster.

So now for the question writ large: "As our nation continues down this path of a consumptive way of life, are we not crippling ourselves irrevocably by creating and sustaining increased dependencies upon other countries for our production needs?" What level of power are we bestowing upon them as we pursue our lives of leisure? What will be the event that brings this issue to the forefront of our thought? Is this question the leak in the roof? Should one of the producing countries pull the plug and cease their supply of goods to the USA, do we even have the capacity and skills to resume production? How long would it take us to retool our manufacturing facilities? Is this a "responsible" status?

I have many more questions than answers and am hopeful that the issues I mention are ridiculous and non-viable . . . yet I still believe I will do my best to be sure that my family is suitably equipped :-)

Hmmm . . . Time to start the day :-)

b
Barry Owen
www.theowengroup.net
Simply Living the FourFold Way in Open Space!

Tuesday, April 10, 2007

In Search of Excellence

A friend brought over a stack of books - said he thought I might be interested in a few of them. This was a high honor for me because the source of the books was the book-shelf of his Father who had died in a tragic accident some months ago . . . The family is still sorting through the memories and "finding good homes for all of the things." This is a very important and thoughtful process, and (I believe) very respectful both to give and receive. I considered the pile presented and saw many classics. It wasn't a tall pile . . . just @ a dozen books accompanied by a financial calculator. The calculator is in daily use . . . and the books, I have just now found the time to begin discovering the treasures within.

As is customary for me, I let the pile of books "settle" in my "personal library" (Our utility room which has lots of cabinets full of books and movies). This settling process is very interesting. I leave them in a pile for several weeks, and during that time they are moved several times by different people. The kids may knock the stack on the floor as they climb up on the counter to find a movie - They will pick them up and put them back in a pile in a different order . . . or I'll move the stack while cleaning the rabbit's cage (which also happens to be in that room) . . . or Deb will move them as she tidies up the room . . . Point being that the order of the books changes with the passing of each day. When the time is right and I realize that I have the mental space to absorb some new and insightful learning, I wander into the laundry room and grab the top book in the pile . . . This time, I had the good fortune of grabbing In Search of Excellence by Tom Peters and Robert Waterman.

For years, I have heard of this book. I have never been inspired to buy or read it. As I always do when I begin to read a book, I looked at the publication date and see that this was written in the early 1980s . . . @ 25 years ago . . . Ancient wisdom :-) . . . and I plug that information into my brain and "measure" it against my theory that some phenomenon happened in the mid 80s that caused a veritable EXPLOSION of new thought with respect to organizational development and transformation . . . Seems most every significant shift that I encounter in this field found its wings during this time . . . and most of these theories were formed in the womb of the late 70s/early 80s. This was a time of VERY rich thinking which resulted in the incubation of many theories that seem to be timeless and very relevant in today's businesses. Business practices definitely do not evolve anywhere near as quickly as "new thought." Many of these "new" theories that were originally mused in the late 70s are only now finding their way into "mainstream" organizations (Open Space Technology is one of those - Keller Williams is another). So with this perspective in my mind, I have dived into "In Search of Excellence" with eyes wide open and am reading it with "proper perspective."

So far so good . . . I've made it a few chapters into the book. This week has had its full course of distractions. Business is proving to be very active, and I had a great experience accompanying an associate in our office to teach a class at a local high school about the real estate industry and financial responsibility. We really enjoyed seeing these High School seniors "getting" the principles of learning early to save and staying away from debt (a la Dave Ramsey) . . . and of course, I couldn't do it without warning them that ALL marketers are out to GET their hard-earned dollars.

Today, I visited another Keller Williams office to discuss the possibility of Opening Space soon around the theme of "New Leadership interested in tuning in to the flow of the office (Staff and associates" and "Dealing with this rapidly shifting real estate market the local REALTORS are navigating this Spring." Our meeting was brief but very productive. My guess is that we'll be opening a 200+ participant space within the next 3 weeks. All this to say that I am very much enjoying "In Search of Excellence" in small bites (morsels) and marvelling how this 25 year old wisdom still seems to be totally appropriate. Many of the names and faces have changed, but the management challenges have not significantly . . . I have seen some recurring themes along the lines of realization that there IS a point at which returns begin to diminish from unit growth. The production industry benchmark at the writing of the book was 1000 people "on the floor". . . More people than that tended to create exponential issues with respect to labor disputes and management head-aches. This number is quite disparate from the"rule of 150" but conceptually similar... I wonder if this has anything to do with technological advancement . . . and "knowledge maturity" - It clearly takes fewer people to accomplish more in less time now than in 1982.

In real estate, things are moving at epic speeds. I remember 14 years ago when I started in the business, we were still a bit amazed at the impact the fax machine had on our business and were still a bit uneasy as to whether a faxed document would be legally binding . . . nowadays, we can generate legally binding agreements in a fraction of the time and transmit them across the country in a microsecond... and can actually sell property without the client ever having set foot in the door. WOW! No small wonder at the fear prevalent in the industry . . . Seems as the ride gets faster and faster, the bumps get rougher and rougher . . . and the falls hurt more than ever. There is NO better time than NOW to Open Space.

Enough for tonight . . . I have a blog forming in my mind about our "consumption oriented society" versus the "production orientation" that has been prevalent for virtually ALL prior generations . . . and how this shift is affecting humanity. My musings are wandering into the fields of complexity and the sheer number of humans in the mix . . . and the simple question: "what would we all do if the electricity source suddenly ceased?"

Best,

b
Barry Owen
www.theowengroup.net
Simply Living the FourFold Way in Open Space!

Tuesday, April 03, 2007

No such thing as a "Bad Real Estate Market"

The story around the nation has many twists and turns. We are hearing of "crashing real estate markets," . . . people losing hundreds of thousands of dollars in failed real estate ventures . . . finding themselves "up-side down" in their real estate purchases . . . or more recently, mortgage companies under investigation (even by the FBI - Yes the Federal Bureau of Investigation) for mortgage fraud - Manipulative, deceptive, predatory lending practices . . . All of which leads to a HIGH rate of loan foreclosures and plenty of fodder for those who feel compelled to pertuate "the sky is falling" myth. If you are an avid news-watcher, I am certain that you are (or soon will be) a believer.

My opinion of what's happening in the Greater Nashville, TN real estate market, is that we are experience a "levelling" market. What this means is that the pace in number of sales is tapering as inventory rises. Appreciation is not quite as robust as it has been in recent years. Yet, the statistics show that we are only slightly below the RECORD numbers of 2006 . . . and It looks like March sales will be HIGHER than 2007 in both number of houses sold AND average selling price. To date, 2007 is the 2nd best Real Estate market in history - Just slightly behind the all time record year of 2006. Hmmmm . . . Doesn't sound like doom and gloom to me.

When a market shifts, the dynamics of the process shift in sometimes subtle, sometimes loud ways. If we are to continue forth, the only option we have is to "muddle through" and "stay the course" . . . We must all ride this wave with an understanding of the market and make measured adjustments in our strategies and techniques. As long as we are keeping our finger on the pulse of the market and tweaking our practices, we can find success in virtually EVERY market. It is only when we become complacent (after a long period of time in a "GREAT MARKET") that we find ourselves blind-sided by a natural shift . . . This is simply "Ebb & Flow." There is NO such animal as a bad real estate market. Even in the most difficult financial times, people have the need to buy and/or sell real property (houses and land). Often times, it is the purchase and sale of real property that carries people through these tough times . . .

What does this mean for Buyers and Sellers? Let's start with the Sellers because it is these folks who are, today, facing the need for a slightly painful shift of strategy. For the past 14 years, Sellers of houses in Middle Tennessee have experienced an extremely healthy, strong market. This market has appreciated at rates EVERY YEAR well above the National averages, yet not the "super-human appreciation" paces that led to market crashes in Florida and California (and many other markets). Nashville has enjoyed steady, relatively conservative growth and appreciation for all these years as noted by the recent polls that rank Nashville consistently as one of the "Top 5 stable" cities in the nation. Through all of these years, most sellers have been able to price their homes slightly above the market comparables, have been less concerned about condition and "showability," and have consistently met with predictable success. The "rules" have changed. This market is less tolerant of speculative pricing. The Buyers are not necessarily bargain shopping but are certainly more savvy than years prior. Today's Buyers KNOW the real estate market because they have the benefit of seeing this activity live through the internet.

With all of the above said, it behooves EVERY Seller to internalize the real wisdom of the recent historic market statistics. Sellers must begin determining listing price based on what the market (Buyers) is (are) actually PAYING NOW (Using SOLD comparables not more than 6 months prior) rather than speculating a price that they are hopeful the market might pay (or come to in the near future). Setting a high price with the strategy that "We can always reduce in 3 weeks if it doesn't sell" is a "backfire" approach. These are the properties that we see lingering on the market for many, many months . . . and if the Seller has also speculated that the property will sell quickly, they may have already purchased another property . . . paying 2 mortgages . . . with the one "for sale" sitting vacant and devoid of furniture . . . Not the optimal scenario for a "top dollar" sale.

Condition is also a MAJOR factor. If you want TOP Dollar for your house, you're gonna have to take care of any deferred maintenance BEFORE showing the property to prospective Buyers. With so much inventory to consider, Buyers have little tolerance for houses that need work or are not properly prepared for showings. Today, I did a quick scan of the market and see that there are currently 263 active listings over $750,000 in west Nashville ALONE . . . Less than 100 Pending and closed in the last 6 months . . . That means we have over 14 months of inventory on the high end of the market. Do you want your house to sell in 1 month or 14?

Truth is, you DO control the market with respect to the sale of your house because only YOU have the ultimate control over proper pricing and preparing of your house for the market. Don't be angry with the Buyers . . . All they're doing is comparing your house with all of the other houses on the market, studying the market statistics, and making informed decisions.

As always, we hope you will call us at The Owen Group to work with you on the sale or purchase of a house. We believe you will appreciate our candid and consultative approach. Our goal is always to get the most of $$ in the least amount of time for our Sellers and for our Buyers the lowest price with the optimal timing for closing.