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Monday, November 27, 2006

Seller's Status Report

The below text was extracted from an email I sent a client as a monthly report. It tells a little bit of what I am experiencing day-to-day in this market. If you are a seller, this may be your experience as well.

"I just wanted to check in with you and let you know how things are going. I have spoken to ------ several times over the past few weeks while scheduling showings. I know she has been putting effort into painting the living/dining room and the family room. We continue to have fairly frequent showings. I do believe the prices have returned to realistic levels for this market. After all, the job base in this locale can only support a certain level of housing costs."

"I held an open house yesterday at one of my listings and had a lot of traffic so buyers are out there. By the way, whenever I do open houses I carry flyers on all my listings and promote them to all open house visitors. I still believe you have the best priced pool home in Viera. Interest rates are still reasonable and buyers are looking. The issue in this market remains insurance premiums and property taxes. With the recent elections there is a promise of a special legislative session to address the insurance problem. Hopefully for all of us residents of Florida, this will result in some sort of reduction or, at a minimum, limiting the rate increases!"

"The "average" days on the market now in this area is approaching 4 months so it is not uncommon for a listing to be active for 6 months or so. The lower end homes seem to move a little more quickly. A report in the newspaper a couple of weeks ago stated the median sales price had dropped to $194-195K. However, properties are moving!"

"I still firmly believe that our price is very attractive at $265,900. We have the best priced pool home in Viera. The buyers out ther now are the opne's looking to move at the first of the year - job transfers, etc. Finally, do I have your approval to continue the listing another month?"

Tuesday, November 14, 2006

This is the Time!

Sitting in the barber shop yesterday I picked up the November issue of Entrpreneur Magazine. An interesting article by the Editor (sorry I do not remember her name) caught my eye. After reading the article I thought about its applicability to real estate too! She basically said "Waiting is a waste of time!" and "There never will be a perfect time." That is most assuredly applicable to the housing market at this time.

Buyers who need a home are buying! Sellers who need to move are selling! And the resultant prices are realistic for the area. Perhaps the prices are where they should have been about a year or so ago when the "Bulls" were running wild! If you are in the situation, pick an excellent Realtor and tread cautiously. The folks who were fishing for buyers have just about left the market and any Realtor really working for you as a buyer will find the property you are looking for! Happy House Hunting!

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