Debra Leisek, Bay Realty: homerite says market is doing well, despite fears of many.

• Author: Stomierowski, Peg
• Position: VIEW FROM THE TOP - Interview

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One tradition of community service at Bay Realty in Homer is the July 4th block party. In 2006, the young winner of a bicycle talks with Bay Realty's Debra Leisek, center, and local business leader Derotha Ferraro

Debra K. Leisek, owner/broker tat Bay Realty in Homer, grew up in Wichita and came to Kachemak Bay from Kansas in 1989. Although she'd studied journalism and sold media advertising, she found a new career here, licensing in 1990, then purchasing the real estate business in 2000. At Bay, whose agents are independent contractors, several employees work with about six agents.

Leisek, a business leader locally and statewide, also has worked with community groups, including Hospice of Homer, Share the Spirit, Haven House and the Food Bank. She and her husband, Jim Long, have been together for more than 34 years.

ABM: So how's the view from Bay Realty? Given the real estate climate, how do you view your leadership role and challenge?

Leisek: View is something we are very familiar with in Homer. I'd say my view is 360 degrees ... I strive to encourage my team to be the best, be known as a business that can be counted on in good and bad times.

ABM: What are the driving forces in your field?

Leisek: The trends in real estate are market-driven; No. 1 being supply and demand. Interest rates were 10 percent to 12 percent when I began selling, so current rates are in reality very good. Fannie Mae and Freddie Mac have caused an adverse affect by raising the credit-score rating requirements to a very high standard. This affects people unable to put 20 percent down on a home, so instead of conventional loans, many will secure FHA, VA and, of course, Alaska Housing loans. Without FHA and AHFC (Alaska Housing Finance Corp.), many people now would not even be able to consider buying a home.

Other conditions affecting our industry are the rising cost of building materials and soaring fuel costs, and always, changing laws, regulations and property taxes.

ABM: What's the key to managing change if possible?

Leisek: Flexibility. Be open-minded. Listen. If you are wrong, admit it, and always learn from your mistakes. There's a high level of uncertainty and fear right now, and we face questions about the "falling" real estate market. We...