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Tag Archives: sellers

Wayback Wednesday… Recovery?

Wednesday, 01 September 2010 08:58
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Recovery Truck
Image by kenjonbro via Flickr

Recovery… In it or do we need to go to it?  That was my question two years ago this week… and it is STILL a valid question.  And two years ago, I don’t think there were many people (including me) that were expecting the housing slump to last this long.

But here we are, not knowing if a bottom to the market has been established or if there is more blood that needs to run in the streets.

At least now, more of us in the real estate community have figured out that stimulus and incentives aren’t the answer… JOBS are the answer.  There are too many potential buyers out there that are worried about the security of their jobs.  Demand can’t rise until buyers don’t feel threatened.

And that means that the Supply side of Supply/Demand will be out of whack… even thought the supplies have be mostly dropping for well over a year (compared to the previous year).  And even though supply has been coming down, there have been reports of a wave of foreclosures just out of sight over the horizon (those reports have been with us for well over a year, too).

On the flip side, there are some pretty good deals.  Mortgage rates are ROCKING… I heard a report today that rates hadn’t been this low in 60 years.  If you ARE in a position to buy, it might be the best time in a generation.  If not, I understand…

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Wayback Wednesday… Why the Hurry?

Wednesday, 25 August 2010 08:47
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Schematic representation of short selling in t...
Image via Wikipedia

This hasn’t changed… unless it has become MORE important.

Looking through listings is kind of like wading through a sea of REOs (bank owned properties) and short sales (properties on their way to becoming bank owned, barring a miracle).  And one thing uniting these listings is that they are generally marketed VERY weakly.  Scant pictures, minimal descriptions and even non-existent directions to the home.

So, when a property comes on the market that is well photographed, marketed and with a well written description, it stands out.

Two years ago I wrote about agents rushing to get listings onto the market… before things like photographs could even be sorted out.  Then and now, buyers reject properties without photos.  Seldom do they come back to see if the listing has photos updated on it… unless they have moved past everything else on the market.

Here is the original post…

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This is what I feared… Gwinnett Market Report – July, 2010

Tuesday, 17 August 2010 08:20
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DSCN0559
Image by lane.bailey via Flickr

I have been kind of expecting this, but of course it will take a couple of months to confirm…

The Tax Credit did not kick the Gwinnett Market into gear…

Instead, its expiration killed sales.  Looking over the last few months of sales we see that for 2010, sales were (compared to 2009):

  • January – down 10.9%
  • February – up 1.7%
  • March – up 10.1%
  • April – up 14.1%
  • May – up 17.3%
  • June – down 0.8%
  • July – down 26.2%

As we look over these numbers, there are a few things to keep in mind…  To start with, the July numbers will likely get a little better.  Although sales are supposed to be reported within 48 hours of closing, there are always stragglers that take a few weeks to make it into the reports.  Contracts had to be written by April 30th, and sales here usually only take 30-45 days to close.  That would be why sales were up in May, but not in June… those sales were likely closed.  I didn’t see a lot of buyers playing chicken with the contract dates.

All isn’t doom and gloom…  Inventories are down a bit from last year.  This is helping to keep the absorption rates at a reasonable level.  But they are still decelerating.

Look for specific reports over the next couple of weeks for Lilburn, Lawrenceville, Duluth, Suwanee, Sugar Hill, Buford and Norcross.

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Cool Garages… Yahoo

Friday, 06 August 2010 08:27
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Old garage.
Image by Elsie esq. via Flickr

Yahoo Real Estate had an article about cool garages a few days ago.  They focused on some very high end homes… with some really cool garages.  Nice pictures.

I tend to focus on garages that are a little more within the budget realms of [reality].  Not that I would mind representing $10m properties… but there aren’t that many opportunities, and it isn’t a circle I travel in a lot.  Luckily, I love the people I work with, buyers and sellers that share a love of cars, Jeeps, trucks and motorcycles… just like me.

Anyway, hit the link for some great garage shots… and if you are looking for an agent that actually WANTS to check to see what the garage is like when touring a home, give me a call…

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Wayback Wednesday… The Dirty Little Secret…

Wednesday, 21 July 2010 08:16
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Secret Bunker
Image by marcmo via Flickr

Here is a post that actually goes back three years, but I posted it two years ago on this blog.  It is about the ‘Dirty Little Secret’ that the folks offering to list your house for $999 (or whatever) don’t want you to know.  Yep, they have a business plan, and there is an integral part of it that they will NOT tell you about.  If you ask them about it directly, they will hem and haw… but it is pretty doubtful that they will come right out and tell you…

I’m NOT telling you that one of those services can’t be a great option, but only if you know the secret, and go into it with your eyes wide open.  In fact, I offer a similar services… but I add something that they don’t.  It doesn’t alter the basic premise, but there is a reason why my discount listing plan is different…

But you’ll have to talk with me to find out all of the details.  Don’t worry, I don’t bite.

BTW, I have had a lot of discussions with discounters and they don’t like that I have said this out loud…  They can’t counter it… but they are mad at me.

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