It’s a dog’s life

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Do you love dogs?  I love dogs.  In particular, I love my breed, the Doberman Pinscher.  I love their loyalty, their protective nature, their silliness and I feel safe when one is sleeping next to my bed.  If it were up to me, I would have one of my dogs with me at all times.  But it’s not up to me.

My job entails going in and out of other people’s homes several times a day, meetings and appointments that may last for a couple of hours, lunches in corner cafes and five star restaurants.  My dog isn’t welcome in many of those places, so I leave my dog home when I’m working.  I never take my dog anywhere he’s not welcome.  I was very ill last month.  I heard a dog collar in the hospital hallway on several occasions.  Finally I was able to get to the hallway and see a schnauzer walking by.  I asked my nurse “Are dogs allowed here?”  She said, “Yes, I see the all of the time”.  Can I have my brother bring my dog to see me?  “yes, of course, we’ll just shut the door to your room while he’s here”.  And I got to see my dog which helped me heal.

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That gets me to the point.  Dogs don’t belong in real estate.

I had a listing on the market when I went into the hospital.  I received a call that an agent who witnessed another agent in my listing with their dog.  The agent’s dog peed on my clients carpet.  I am laying in a hospital bed and I had to deal with this.  How unprofessional to you have to be to bring your dog to a sellers house and then allow it to pee on the carpet?  This agent should be run out of the business.

Dogs don’t belong in real estate.

I had an open house this weekend and not one, not two, but three different parties showed up to view the open house with their dog in tow.  I’m sorry, are you kidding me?  If you are previewing homes, leave your dog at home.  I can assure you that your dog will love any home you buy as long as you are there.  Dogs are like that.

Here are some of the issues to consider before bringing your dog to someone else’s home.

  1. The homeowner has cats who may become freaked out because your pooch’s scent is now in their space.
  2. The homeowner has dogs who may become freaked out because your pooch’s scent is now in their space.
  3. The homeowner’s pet mentioned in 1 and 2 above acts out due to the new scent and starts marking territory thereby destroying what was previously a nice and odor free home.
  4. The homeowner is severely allergic to pet dander and you’ve now polluted their home.
  5. The homeowner is a severe asthmatic and you’ve now sent them to the hospital.

An open house is a private home that has been placed for sale and is open for viewing by potential buyers.  The general public does not have a right to pass and an agent can refuse entry on behalf of the seller if the agent feels the seller’s private property at risk.  Agents can even restrict visitors to those who have provided the ability to purchase the property.

With one notable exception, dogs don’t belong in real estate.  There are a few agents in our area with situations where they have service dogs.  Service dogs can be used for a number of situations including alerting to seizures in their owners.  I am not talking about these dogs.  These dogs are highly trained, highly disciplined and highly necessary to their owner’s well being.  These dogs are an exception.

Every other dog, does not belong in real estate.

Clowns to the left of me, jokers to the right

The thing I am hearing a lot of right now is that people want to wait and see what happens in this election. The little voice in my head, you know, that screaming lunatic that I have to filter every waking moment of my life says “Why? It does not matter!”

Oh, I know. It does matter. If X is elected to office you’re moving to Canada. Or Mexico because they now have a wall keeping Americans out…right?

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The truth of the matter is every four years this country holds a Presidential election. While this is the most contentious of my life time, every four years in spite of the rhetoric, the Republic stands.

The Republic will stand this time as well. It will stand because we have checks and balances. We have three arms of government for the specific purpose of allowing the Republic to stand in spite of political shenanigans. The Executive Branch can only do so much without the Legislative Branch which can only do so much without the Judicial Branch. Those old guys were pretty smart when they set this thing up.

At the end of the day, the Republic will stand. The question is where do you stand? Are you an early adopter? The early majority? The late majority or a laggard?

In real estate the early adopters get the return. The early majority do well in real estate. The late majority generally see a midland return and the laggards are the ones that get beat up in real estate.

Who are you?

Are we in an housing bubble?

Yes.

Well, no.

Well, maybe.

Well certainly not like what you’re talking about.  That’s right.  If you asked that question you are thinking about 2006 and we are not in that kind of bubble right now.  Great!  Now let’s all head out to yoga class and find our namaste.

Not so quick there Bucko!

You can go back to the beginning of my musings and you will find me saying “Business is cyclical”.  Over and over again.

What does that mean?  It means, and if you paid attention in your economics class you can skip over this part, businesses expand and contract in the natural course of their life.   How they react in times of contraction determines the length of that life.  Businesses that did not save for a rainy day and/or over-leveraged may find their life shortened by those decisions.  Real Estate is a sector in the economy.  It is cyclical.  It expands (goes up) and contracts (goes down).

At the end of the day, unless you’re going off the grid, you’re going to need to live indoors.  When we are talking about where to live, that matters right now.  Right now regardless of what the market is doing.  If the market is super high and you’re not planning on going anywhere and you can afford the payment, ride it out.  Why?

Real estate is the only asset that you can purchase that will never depreciate to zero.  In the US at least.  I would caution about other countries and their practices regarding foreign nationals, for instance, American cannot own real estate in Mexico under many circumstances.  But that’s another article for another day.

Let’s take a look at the cost of waiting.

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Can you afford to wait?

Now let’s add your mortgage interest deduction into your tax picture, can you afford to wait?

Alright, fair enough.  Now consider the capital gains exemption of $250,000 or $500,000 for a couple.  Now can you afford to wait?