Lennox's Real Estate Blog

sharing my passion for real estate

Breakfast with Zillow . . .

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February 19 was John L. Scott’s annual Top 1% Awards Breakfast for recipients in the Western Washington region. I look forward to this event every year because it gives me an opportunity to spend time with some of the most productive sales associates in our company and recognize them for achieving John L. Scott’s pinnacle award. This year’s event included a presentation by Dr. Stan Humphries, Chief Economist at Zillow.com.

Dr. Humphries discussed the conditions that have helped drive the market in recent months (tax credit, increased affordability, low interest rates) and provided a forecast for the coming year. He suggested that while transaction levels have probably hit their bottom on a yearly basis, home prices may still decline by a couple of percentage points. Dr. Humphries also reaffirmed some of the predictions myself and others have been making about rising interest rates and the expiration of the tax credit. Dr. Humphries provides an interesting comparison between various major metropolitan markets which you can read about in his Zillow blog; it’s worth a read.

For my presentation, I reminded everyone in the room that regardless of what happens when the tax credit expires or if interest rates rise, we ARE who we CHOOSE to be. Personally, I am not higher interest rates. I am not the end of the tax credit. It’s all about the focus and attention you give to the factors that you can control. We are professionals. We are an energy source for our clients. Ultimately, my point is that you are whatever you want yourself to be. And as you move forward, remind yourself of this and I promise that success will follow.

Congratulations to all of our 2009 award recipients and thank you for being a positive contribution to the John L. Scott Team!

Written by Lennox

February 22, 2010 at 4:50 pm

One Response

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  1. Lennox,
    Thank you very much for having Stan and me at the Top 1% breakfast the other day.
    Stan really enjoyed sharing his perspective on the Seattle housing market with your agents and executive team.
    And for your blog’s readers, here is a copy of a similar presentation that he did for the Rainier Club Real Estate Roundtable a few weeks ago: http://activerain.com/blogsview/1459951/seattle-real-estate-market-overview-

    Spencer Rascoff

    February 23, 2010 at 10:34 am

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