Oak Mountain Lake Topics: I think Glynridge first,

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	Name:	John C -
	Subject:	I think Glynridge first,
	Date:	11/3/2008 12:25:36 PM

?? I have no clue as to their reasoning. I am sure that they have some good ones. I doubt that they will be the direct inheritors of foreclosed homes as the lender will have more skin in a foreclosed spec home than they will on the lot "loan." Who knows. Maybe they will buy up some spec homes, but then again (theoretically) anyone can do that.

The thing I wonder mostly is what direction they will go, will it follow the example of, e.g., Lowder New Homes? back in the 1970s they would offer lots to builders. Now they do developments and build homes themselves, but have radically different attitudes about sales and relationships with other agents, and how their homes get sold. So who knows how all that will work out. I am sure that RL will be OK.

Basically, it doesn't matter what we think or do, because they have a well earned natural monopoly on land. So it doesn't really pay my bills to worry about the whys or wherefores. The more interesting questions to ponder, and the ones for all the rest of the world that don't own the shoreline, are:

1. Sellers - What is your plan, now that a very strong fish is swimming in your tank? Are they your competition or not? If not, who is? If so, how to plan for it? When planning your marketing, pricing, and potential competition, are you factoring in all of the angles? Whom will you ask for advice?

2. Buyers - same essential question. In any real estate discussion, certainly in a transaction, we real estate agents are required by Alabama law to inform the consumer / client as to the relationship (if any) we have with the seller and with the consumer / client. Basically, we are required to tell them for whom we are working and to whom we have allegiance. This applies whether you're buying a $5,000 lot in Slapout or a $5 million home in Shoal Creek. Hey, Jane Agent, for whom are you working? The builder? The seller? Is the builder the seller? Are you a buyer's agent, working for me? What's the deal? I am not saying anything is wrong with handling both sides of the transaction, it's legal. But the buyer needs to know that. I am always shocked when, after I get through that required talk with a person, that they say it's the first time they've heard that "disclosure" talk even though they have done many RE transactions, whether in LM or elsewhere. So to buyers - I say also - whom will you ask for advice?

It's still possible to get deals done in this climate, you just have to be extremely realistic, extremely patient, and have a plan.