April 2008 Market Trends for the Big Canoe Community:
Current Home Inventory in Big Canoe is now at 246 vs. 243 in March. Please note inventory numbers below.
Days on market for April were 175 vs. 91 in March. (Homes sold) 197 Days on market… homes for sale.
Big Canoe’s overall month’s supply of inventory is … 68.0 months vs. 33.1 last month.
Average listing-to-sold ratio YTD is 91.6%.
Note: C21 sales ratio is 95.5% YTD. That’s a lot of money in your pocket. On a $400,000 home we would be saving you over $15,000.00. Why use anyone else for a decision so important?
22 homes have sold YTD vs. 30 homes YTD April 2007 and vs. 62 homes YTD April 2006.
The average sales price in April was $445,450 compared to $410,000 in April 2007.
Market Trends for the Community of Big Canoe Summary:
Overall volume (dollars) in The Community of Big Canoe is down 29.00% vs. YTD 2007. We are showing improvement.
We now have almost six years of inventory on the market.
Although inventory continues to build, overall volume dropped from 34.5% in March to 29.0% in April. Lets hope this is a sign of the market bottoming.
Nationally, existing home sales dropped 1% in the month of April. Within that number, condos dropped 5.2%, while single family homes dropped 0.5%. Regionally, the Midwest dropped 6%, Northeast 4.4%, the West rose 6.4%, and the South was flat. Another sign we may be bottoming.
Nationally, new home sales rose 3.3% in April. Another sign we may be bottoming.
As buyers begin their search for a new home, they are looking for reasons to eliminate homes from their search. Be sure not to give them a reason to eliminate yours.
We have just launched a new web-site: www.AtlantaMountainHomes.com. It is dedicated exclusively to the Community of Big Canoe. Check it out!
Till next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
Thursday, May 29, 2008
Tuesday, May 13, 2008
Top 10 Reasons to Hire a REALTOR
With so much information readily available online, clients sometimes ask me, "Why should we hire a real estate agent?" They wonder, and rightfully so, if they couldn't buy or sell a home through the Internet or through regular marketing and advertising channels without representation, without a a real estate agent. Some do OK, many don't. So if you've wondered the same thing, here are 10 reasons why you might want to consider hiring a professional real estate agent.
1. Education & Experience
You don't need to know everything about buying and selling real estate if you hire a real estate professional who does. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find the right person. For the most part, they all cost about the same. Why not hire a person with more education and experience than you? We're all looking for more precious time in our lives, and hiring pros gives us that time.
2. Agents are Buffers
Agents take the spam out of your property showings and visits. If you're a buyer of new homes, your agent will whip out her sword and keep the builder's agents at bay, preventing them from biting or nipping at your heels. If you're a seller, your agent will filter all those phone calls that lead to nowhere from lookie loos and try to induce serious buyers to immediately write an offer.
3. Neighborhood KnowledgeAgents either possess intimate knowledge or they know where to find the industry buzz about your neighborhood. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics. For example, you may know that a home down the street was on the market for $350,000, but an agent will know it had upgrades and sold at $285,000 after 65 days on the market and after twice falling out of escrow.
4. Price GuidanceContrary to what some people believe, agents do not select prices for sellers or buyers. However, an agent will help to guide clients to make the right choices for themselves. If a listing is at 7%, for example, an agent has a 7% vested interest in the sale, but the client has a 93% interest. Selling agents will ask buyers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the agent will devise a negotiation strategy.
5. Market Conditions InformationReal estate agents can disclose market conditions, which will govern your selling or buying process. Many factors determine how you will proceed. Data such as the average per square foot cost of similar homes, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.
6. Professional NetworkingReal estate agents network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many agents will hesitate to recommend a certain individual or company over another, but they do know which vendors have a reputation for efficiency, competency and competitive pricing. Agents can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection.
7. Negotiation Skills & ConfidentialityTop producing agents negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It's part of their job description. Good agents are not messengers, delivering buyer's offers to sellers and vice versa. They are professionals who are trained to present their client's case in the best light and agree to hold client information confidential from competing interests.
8. Handling Volumes of PaperworkOne-page deposit receipts were prevalent in the early 1970s. Today's purchase agreements run 10 pages or more. That does not include the federal- and state-mandated disclosures nor disclosures dictated by local custom. Most real estate files average thicknesses from one to three inches of paper. One tiny mistake or omission could land you in court or cost you thousands. In some states, lawyers handle the disclosures, thank goodness!
9. Answer Questions After ClosingEven the smoothest transactions that close without complications can come back to haunt. For example, taxing authorities that collect property tax assessments, doc stamps or transfer tax can fall months behind and mix up invoices, but one call to your agent can straighten out the confusion. Many questions can pop up that were overlooked in the excitement of closing. Good agents stand by ready to assist. Worthy and honest agents don't leave you in the dust to fend for yourself.
10. Develop Relationships for Future BusinessThe basis for an agent's success and continued career in real estate is referrals. Few agents would survive if their livelihood was dependent on consistently drumming up new business. This emphasis gives agents strong incentives to make certain clients are happy and satisfied. It also means that an agent who stays in the business will be there for you when you need to hire an agent again. Many will periodically mail market updates to you to keep you informed and to stay in touch.
Market Trends - March 2008
March 2008 Market Trends for the Big Canoe Community:
Current Home Inventory in Big Canoe is now at 243 vs. 234 in February. Please note inventory numbers below.
Days on market for March were 91 vs. 173 in February. (Homes sold) 190 Days on market… homes for sale.
Big Canoe’s overall month’s supply of inventory is … 33.1 months vs. 24.7 last month.
Average listing-to-sold ratio YTD is 90.3%.
Note: Our sales ratio is 93.9% YTD. That’s a lot of money in your pocket. On a $400,000 home we would be saving you over $16,000.00. Why would anyone use a limited service broker (84.1%) vs. Century 21?
16 homes have sold YTD vs. 26 homes YTD March 2007 and vs. 40 homes YTD March 2006.
The average sales price in March was $445,450 compared to $450,000 in February 2007.
Market Trends for the Community of Big Canoe Summary:
Overall volume (dollars) in The Community of Big Canoe is down 34.55% vs. YTD 2007.
We now have almost three years of inventory on the market.
A point we must emphasize is that 7 homes sold in March. However those 7 homes’ days on market were only 91 vs. the average home being on the market now for 190 days.
The bottom line – nothing has really changed. Buyers are few. Therefore, everything needs to be considered. With this much inventory on the market, buyers are looking to eliminate their choices. Therefore, condition, location and ultimately the price is what it will take to not be eliminated from that buyer’s search. Now more than ever, you must be priced right.
Although the market conditions are complicated, we are pleased to say that our office has obtained 25% of the sales in Big Canoe and through March we are up 50.8% vs. this time last year.
We continue to invest in our business with a new state of the art office at the new “North Gate Station”, launching multiple top producing websites, and increasing our print advertising campaign. Now is not the time to pull back, like many of our competitors have.
Our promise to you is to capture every opportunity for you as possible.
Till next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
Current Home Inventory in Big Canoe is now at 243 vs. 234 in February. Please note inventory numbers below.
Days on market for March were 91 vs. 173 in February. (Homes sold) 190 Days on market… homes for sale.
Big Canoe’s overall month’s supply of inventory is … 33.1 months vs. 24.7 last month.
Average listing-to-sold ratio YTD is 90.3%.
Note: Our sales ratio is 93.9% YTD. That’s a lot of money in your pocket. On a $400,000 home we would be saving you over $16,000.00. Why would anyone use a limited service broker (84.1%) vs. Century 21?
16 homes have sold YTD vs. 26 homes YTD March 2007 and vs. 40 homes YTD March 2006.
The average sales price in March was $445,450 compared to $450,000 in February 2007.
Market Trends for the Community of Big Canoe Summary:
Overall volume (dollars) in The Community of Big Canoe is down 34.55% vs. YTD 2007.
We now have almost three years of inventory on the market.
A point we must emphasize is that 7 homes sold in March. However those 7 homes’ days on market were only 91 vs. the average home being on the market now for 190 days.
The bottom line – nothing has really changed. Buyers are few. Therefore, everything needs to be considered. With this much inventory on the market, buyers are looking to eliminate their choices. Therefore, condition, location and ultimately the price is what it will take to not be eliminated from that buyer’s search. Now more than ever, you must be priced right.
Although the market conditions are complicated, we are pleased to say that our office has obtained 25% of the sales in Big Canoe and through March we are up 50.8% vs. this time last year.
We continue to invest in our business with a new state of the art office at the new “North Gate Station”, launching multiple top producing websites, and increasing our print advertising campaign. Now is not the time to pull back, like many of our competitors have.
Our promise to you is to capture every opportunity for you as possible.
Till next time,
Tom and Kelly
Owner / Broker
Century 21 Best Mountain Properties
Source: Broker Metrics / FMLS
Market Trends - February 2008
February 2008 Market Trends for the Big Canoe Community:
Current Home Inventory in Big Canoe is now at 234 vs. 229 in January. Please note inventory numbers below.
Days on market for February were 150 vs. 237 in January. (Homes sold) 185 Days on market… homes for sale.
Big Canoe’s overall month’s supply of inventory is … 24.7 months vs. 40.5 last month.
Average listing-to-sold ratio YTD is 90.3%.
Note: The Beechler Group’s sales ratio is 93.9% YTD. That’s a lot of money in your pocket. On a $400,000 home we would be saving you over $16,000.00. Why would anyone use a limited service broker (84.1%) vs. The Beechler Group?
9 homes have sold YTD vs. 7 homes YTD February 2007.
The average sales price in February was $450,000 compared to $417,500 in February 2007.
Market Trends for the Community of Big Canoe Summary:
Overall volume (dollars) in The Community of Big Canoe is down 34.04% vs. YTD 2008.
We still have over a two year supply of inventory with forty five more homes on the market vs. this same time last year.
We know that from where many of you are sitting it looks pretty bleak. But from our side, activity is improving, people are beginning to look again, rates are great and people are being told to buy houses.
We just returned from our Century 21 convention. Suzie Orman addressed us and said the market had bottomed. She indicated most states would see Real Estate improvement except Florida, California, Arizona, and Nevada.
But a bit of good news: The National Association of Realtors just reported existing home sales for February were up 2.9%.
In summary, 2008 will still be a difficult year, but we feel it will be better than 2007. By the way, our new Century21 office in The North Station is now open. Stop in and say hello.
Till next time,
Tom and Kelly
The Beechler Group
Source: Broker Metrics / FMLS
Current Home Inventory in Big Canoe is now at 234 vs. 229 in January. Please note inventory numbers below.
Days on market for February were 150 vs. 237 in January. (Homes sold) 185 Days on market… homes for sale.
Big Canoe’s overall month’s supply of inventory is … 24.7 months vs. 40.5 last month.
Average listing-to-sold ratio YTD is 90.3%.
Note: The Beechler Group’s sales ratio is 93.9% YTD. That’s a lot of money in your pocket. On a $400,000 home we would be saving you over $16,000.00. Why would anyone use a limited service broker (84.1%) vs. The Beechler Group?
9 homes have sold YTD vs. 7 homes YTD February 2007.
The average sales price in February was $450,000 compared to $417,500 in February 2007.
Market Trends for the Community of Big Canoe Summary:
Overall volume (dollars) in The Community of Big Canoe is down 34.04% vs. YTD 2008.
We still have over a two year supply of inventory with forty five more homes on the market vs. this same time last year.
We know that from where many of you are sitting it looks pretty bleak. But from our side, activity is improving, people are beginning to look again, rates are great and people are being told to buy houses.
We just returned from our Century 21 convention. Suzie Orman addressed us and said the market had bottomed. She indicated most states would see Real Estate improvement except Florida, California, Arizona, and Nevada.
But a bit of good news: The National Association of Realtors just reported existing home sales for February were up 2.9%.
In summary, 2008 will still be a difficult year, but we feel it will be better than 2007. By the way, our new Century21 office in The North Station is now open. Stop in and say hello.
Till next time,
Tom and Kelly
The Beechler Group
Source: Broker Metrics / FMLS
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