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	<title>Garrison Insider - Real Estate Blog &#187; real estate downturn</title>
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	<description>Blog for the Residential Real Estate Community</description>
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		<title>Chicago&#8217;s Real Estate Forecast And Why You Should Ignore It.</title>
		<link>http://garrisonpartners.com/garrisoninsider/real-estate-consulting/chicagos-real-estate-forecast-and-why-you-should-ignore-it/</link>
		<comments>http://garrisonpartners.com/garrisoninsider/real-estate-consulting/chicagos-real-estate-forecast-and-why-you-should-ignore-it/#comments</comments>
		<pubDate>Thu, 04 Feb 2010 13:05:05 +0000</pubDate>
		<dc:creator>Garrison</dc:creator>
				<category><![CDATA[Real Estate Consulting]]></category>
		<category><![CDATA[chicago real estate]]></category>
		<category><![CDATA[deal estate]]></category>
		<category><![CDATA[forecast]]></category>
		<category><![CDATA[garrison partners]]></category>
		<category><![CDATA[positive attitude]]></category>
		<category><![CDATA[real estate downturn]]></category>
		<category><![CDATA[recession]]></category>

		<guid isPermaLink="false">http://garrisonpartners.com/garrisoninsider/?p=187</guid>
		<description><![CDATA[Found an interesting read by Dennis Rodkin in Chicago Magazine&#8217;s online version of the monthly &#8220;Deal Estate,&#8221; column. A collection of quick, mostly unsettling sound bites overheard at the Chicago Association of Realtors (CAR) economic forecast panel for 2010, which met January 28th.
Many of the sound bites involve the accurate (but not-so-original) notion that the economy [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Found an <a href="http://www.chicagomag.com/Radar/Deal-Estate/February-2010/Chicago-rsquo-Real-Estate-Forecast/">interesting read</a></strong> by Dennis Rodkin in Chicago Magazine&#8217;s online version of the monthly &#8220;Deal Estate,&#8221; column. A collection of quick, mostly unsettling <a href="http://www.chicagomag.com/Radar/Deal-Estate/February-2010/Chicago-rsquo-Real-Estate-Forecast/">sound bites</a> overheard at the Chicago Association of Realtors (CAR) economic forecast panel for 2010, which met January 28th.</p>
<p><strong>Many of the sound bites</strong> involve the accurate (but not-so-original) notion that the economy is bad&#8230;and it will be slow to recover.</p>
<p><strong>I have respect for the experts quoted</strong> – their perspectives are valuable to all of us. But somehow the tenor of Rodkin&#8217;s compilation reminded me of how much my team and I bristle at the constant repackaging of negative information.</p>
<p><strong>Exchanging factoids about just how &#8220;bad,&#8221; things are</strong> has become a guilty pleasure for many in real estate, and possibly an unproductive one.</p>
<p><strong>Here&#8217;s one (I can&#8217;t resist):</strong></p>
<blockquote><p>There were fewer permits to build new homes in the eight-county metropolitan area this year than permits issued for Will County alone in 2005.</p></blockquote>
<p><strong>Wow. </strong>Another way to meditate on how &#8220;bad&#8221; things are – by way of comparing everything to Will County in &#8216;05. I could give you hundreds more like that – but I don&#8217;t see the point.</p>
<p><strong>T</strong><strong>here&#8217;s nothing better than</strong> <strong>awareness</strong>. Knowledge is power. But when we obsessively gaze at things through the most disturbing lenses possible, we&#8217;re doing it to build a case for inaction, or to paint ourselves as victims. We&#8217;re venting when we should be <em>in</em>vented. Here&#8217;s another:</p>
<p><strong>In 2009&#8230;</strong></p>
<blockquote><p>&#8230;foreclosures, short sales, and bank-owned sales made up 40 percent of sales of single-family homes and 24 percent of condos&#8230;</p></blockquote>
<p><strong>Yikes! What do you DO</strong> <strong>with that information? </strong>(Aside from saying &#8220;yikes.&#8221;)</p>
<p><strong>Here&#8217;s what you do: keep it productive. </strong>Let it guide your business decisions<strong>.</strong> Let it direct the relationships you forge with lenders. Let it lead you to new opportunities.</p>
<p><strong>Don&#8217;t fall into the trap </strong>of using statistics to build a case for you to feel powerless. That&#8217;s the enemy of progress in real estate.</p>
<p><strong>I saw a brilliant billboard</strong> on the Kennedy Expressway this week. It said: &#8220;Recession 101: Bill Gates started Microsoft during a recession.&#8221;</p>
<p><a href="http://garrisonpartners.com/garrisoninsider/wp-content/uploads/2010/02/Picture-11.png"><img class="aligncenter size-medium wp-image-191" title="Picture 1" src="http://garrisonpartners.com/garrisoninsider/wp-content/uploads/2010/02/Picture-11-300x212.png" alt="" width="300" height="212" /></a></p>
<p><strong>Amen to that.</strong> Try to see the tremendous <em>opportunity</em> between the lines. If you don&#8217;t, someone else sitting next to you at the forecast panel will.</p>
<p><strong>There are opportunities, </strong>there are answers, there is hope. That&#8217;s the attitude that made &#8216;09 a fantastic year for <a href="http://garrisonpartners.com">Garrison Partners</a> and our clients. It can work for you, too.</p>
<p><strong>For concrete techniques</strong> to improve your outcome in 2010, read the new Garrison Insider entry slated for this Monday: &#8220;Top Five Ways To Make Your Lender Your Partner.&#8221;</p>
<p>GB</p>
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		<title>Trend In Residential Real Estate: Think Small</title>
		<link>http://garrisonpartners.com/garrisoninsider/real-estate-consulting/trend-in-residential-real-estate-think-small/</link>
		<comments>http://garrisonpartners.com/garrisoninsider/real-estate-consulting/trend-in-residential-real-estate-think-small/#comments</comments>
		<pubDate>Wed, 27 Jan 2010 03:39:32 +0000</pubDate>
		<dc:creator>Garrison</dc:creator>
				<category><![CDATA[Real Estate Consulting]]></category>
		<category><![CDATA[chicago]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[garrison partners]]></category>
		<category><![CDATA[garry benson]]></category>
		<category><![CDATA[homebuilding]]></category>
		<category><![CDATA[real estate downturn]]></category>
		<category><![CDATA[residential real estate]]></category>
		<category><![CDATA[shrinking home sizes]]></category>
		<category><![CDATA[small homes]]></category>
		<category><![CDATA[think small]]></category>

		<guid isPermaLink="false">http://garrisonpartners.com/garrisoninsider/?p=179</guid>
		<description><![CDATA[The NAHB has released data about the incredible shrinking American home. You can read the full article on The Wall Street Journal&#8217;s website, here.
2009 was a big year for small:
&#8220;The era of easy money is over. You really have to think before you go out and decide you need that five-bedroom, five-bath home,&#8221; said Rose Quint, [...]]]></description>
			<content:encoded><![CDATA[<p><strong><a href="http://garrisonpartners.com/garrisoninsider/wp-content/uploads/2010/01/Think-Small-ad1.jpg"><img class="alignleft size-medium wp-image-181" title="Think-Small-ad" src="http://garrisonpartners.com/garrisoninsider/wp-content/uploads/2010/01/Think-Small-ad1-235x300.jpg" alt="" width="235" height="300" /></a>The NAHB has released data</strong> about the incredible shrinking American home. You can read the full article on The Wall Street Journal&#8217;s website, <a href="http://online.wsj.com/article/SB10001424052748704509704575019462787197650.html">here.</a></p>
<p><strong>2009 was a big year for small</strong>:</p>
<blockquote><p>&#8220;The era of easy money is over. You really have to think before you go out and decide you need that five-bedroom, five-bath home,&#8221; said Rose Quint, the NAHB&#8217;s assistant vice president for survey research. &#8220;Couple that with the energy [cost] concerns of consumers today and I think we will continue this trend.&#8221;</p></blockquote>
<p><strong>It reminds me of another &#8220;small movement,&#8221; </strong>dating back to 1959: the Volkswagen Beetle. Smart marketing touted the financial, practical and image-related benefits of owning small. But there was nothing small about that marketing approach – it translated to big sales.</p>
<p><strong>As marketers in real estate</strong>, it&#8217;s our job to turn this current real estate trend toward small into something big.</p>
<p><strong>Like Volkswagen, we need to package &#8220;small,&#8221;</strong> and make it appealing. Real estate marketers have been doing this for years by using words like &#8220;cozy,&#8221; in advertisements. We have to go beyond that.<strong> </strong></p>
<p><strong>Today small means power.</strong> Small means ownership. Small means freedom. Small means lower carbon footprint. Small is nimble, sane, sensible. Small, in terms of living space, can have <em>tremendous caché</em> if we market it properly.</p>
<p><strong>For some developers, </strong>building smaller homes means the hope of turning a profit on new construction – even in this economy, when standing inventory makes such a thing seem impossible. That&#8217;s a perfect example of turning the trend toward small into something big.</p>
<p><strong>As marketers and real estate consultants, it&#8217;s not enough to merely embrace the trend.</strong> We have to harness its power and translate it into better products, smarter marketing and more sales. That&#8217;s exactly the kind of challenge we love at <a href="http://garrisonpartners.com">Garrison Partners</a>.</p>
<p><strong>Size </strong><strong>may not matter </strong>as much right now. But sales still do.</p>
<p>GB</p>
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