With Thanksgiving having recently passed, it is
the time to be grateful for all of the blessings we have. In the spirit of the
holiday, I would like to share with you two of the most moving, inspiration,
and inspiring videos I have ever seen. Each of these videos has the power to
move you to tears. It is amazing what people can do when they focus, work hard
and dare to dream.
I would like to take this opportunity to say
“THANK YOU” to all of the people and families that put their confidence and
allowed us to help them buy or sell a home this year. We have been able to help
over 120 families achieve their various real estate goals this year. It has
been such a great experience to be a part of your quest to fulfill your dream.
Thank you!
When the
housing market crashed in 2007 we saw an abundance of homes on the market – and
most remained on the market as sellers struggled to sell them. But today, there
is a world of difference in our marketplace. Buyers are actually having a hard
time finding the perfect home as inventory levels have dropped significantly. And
they continue to fall.
One
solution is building a new home. In fact, new construction for one company, Infinity Builders, has been on the rise
steadily since last year with a stark comparison of new builds on the market
from 6 homes just three years ago to being on target for 24 this year. Andrew
Blake of Infinity shares his insight with us about the marketplace and what his
company offers to homebuyers seeking their dream home.
These
days, the most popular floor plan that is offered by Infinity Builders runs for
about $180,000. The plan includes a vast array of amenities plus upgrades and
features that will satisfy the appetite of homebuyers that otherwise are unable
to find everything they are looking for in an existing home.
This
particular floor plan is about 2,200 square feet, has a very large 800 square
foot garage and is loaded with all the bells and whistles that new homebuyers
love to see – granite countertops, stainless steel appliances plus many more
upgrades throughout the home. Bathrooms are finished with high-end fixtures and
gorgeous ceramic tiling. Lighting fixtures and hardware are also high-end
throughout the space.
Another
popular floor plan that they offer is the 1,600 square foot plan that was also
a parade home. Running for about $180,000 to $190,000 these homes are ideal as
a starter home or for a homebuyer that wants to upgrade into something newer.
And contrary to popular belief, the time frame is not more than a few months;
in fact the typical build for Infinity Builders is about 3 months from the
point of beginning to when homeowners can move in.
With
fewer and fewer choices of existing homes available on the market to choose
from homebuyers are either settling for something that just does not cut it or
they are turning to new builds. Without a doubt, the process of a newly
constructed home is exciting not to mention the fresh start that comes with a
brand new home.
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For more
information about buying a home that will be built from scratch – contact us
today. We look forward to serving you!
We have
seen a lot of change in our marketplace over the past year and today, it is
very apparent just how much change when we look at the numbers. Below I have
shared with you the snapshot of our average sales price, the number of listings
sold, pending properties plus active listings – as they compared this year
versus last.
For a
more detailed look at the trends in our area with respect to these and more
statistics, please visit the link included below.
Sales prices have declined year over year when looking
at September figures. In 2011 the average sale price was $133,000 whereas this
year in the same time frame the average sale price fell about $11,000 down to
$122,000.
Sold listings have increased
a modest amount to 5%
higher this year versus last year in September. The 2011 number comes in at 843
listings sold whereas in 2012 we are reporting 887 sold properties.
We are
also seeing an upward trend in the
number of pending properties sold with an increase of nearly 15% this year,
reflecting the difference year over year of 925 pendings in 2011 versus 1,061
pendings in 2012.
The
combined total for both sold and pending
listings amounts increased to a sizable 20% increase this year in September
versus last.
As we
progress further away from the housing crisis that seems almost like yesterday,
we are slowly but surely moving through
a lot of the inventory that once had been sitting stagnant for months on
end. As it begins to get sold and move off the market we can expect to see the
beginnings of rising prices once again.
The good
news throughout all this is that while our sales continue to rise, our active listings continue to fall,
resulting in a 11.2% slide this year from last. This is what makes it a
seller’s market – fewer available properties in a market where there are
significantly more buyers.
If you'd like to view the statistics in their entirety, Click Here >>
If you would like assistance in making your real
estate dreams become a reality, please contact us today. We look forward to
helping!
In the many years that I have practiced real estate I have come across many clients that had no idea how much choice in the matter they actually had when it came to hiring their agent. The truth is that when you choose an agent to work with, you should treat it like any other job that you are hiring someone to do for you. It takes investigation, looking into that person’s worthiness in terms of experience and expertise as well as how they connect with you.
Majority of Agents Conduct No More Than Three Transactions In a Year
Keep in mind most real estate agents work in the profession on a part-time basis. With other careers as their main focus, in addition to their families and daily life – it can be challenging for them to provide the highest level of service to their clients. In fact, according to the National Association of Realtors, the number of homes sold by the average agent was no more than three for last year.
Look for Aggressive, Accessible and Active Real Estate Agents
It is important to seek someone that is able to manage intense marketing campaigns as well as go to bat for you when the need arises. Without an agent with the negotiation skills to support the needs of your transaction, you will be hard pressed to find success in your goals. Being accessible and active are also key pieces to the puzzle that you must look for or you stand to risk getting the short end of the stick with your transactions.
Consider the 90/10 Rule – Which Side Does Your Agent Fall Under?
As they say about the real estate industry, 10% of the agents are doing 90% of the work. So the important question to ask as you consider hiring is how much dedication, experience and willingness to serve is present in the candidate?
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Today marks our 100th closed transaction for the year and the year is not even nearly over yet! Together with my team, we are on track for accomplishing a very respectable 145 closed transactions for 2012 alone. This did not happen by accident – in fact, it was in part due to our many happy clients that referred us to their friends, family and neighbors. We were also able to achieve our goals because of what we have to offer our clients.
Remember, not all agents are created equal and not all put forth the same amount of effort to sell (or help you buy) your property. We invite you today to allow us the chance to demonstrate why we are the right choice for you. Please contact us at either 435.327.2090 or jared@jaredzimmer.com. We look forward to hearing from you!
As you embark upon what will be one of the most important transactions of your life – whether buying or selling a home – you should be absolutely certain that you are happy with the real estate agent you have hired to help you manage it.
To help you with this all-important hiring process, here are ten important questions to ask an agent before you decide on whether or not to hire them:
Question #1
What Do You Do Differently To Get Homes Sold?
Especially with the current trying economic times, many agents have been faced with adversities trying to sell the homes on their list. One of the best ways to learn whether your agent is a self-starter is to find out what they have done in the past when they were unable to successfully sell homes. Ask why the agent feels the home(s) did not sell and then find out what they are doing differently to get them sold.
Question #2
How Many Homes Did You Sell Last Year?
Nothing speaks louder than numbers. A very important statistic, ask what the total number of homes sold last year was and if possible try to get a more long-term picture of the agent’s performance in this regard. You can also ask for a month-to-month breakdown to see if there are certain stronger months.
Question #3
Can You Provide a List of the Ten Most Current Clients You Have Worked With?
Rather than rely on the given list of referrals that many agents have handpicked, it’s a good idea to obtain a list of clients that are currently working with this Realtor. It will provide a much-needed glimpse into the agent’s performance on various stages of real estate transactions.
Question #4
What Does Your Daily Schedule Look Like?
The typical schedule of a real estate professional can be very telling. By asking for a copy or general idea of how they conduct their day in terms of their work, you can get a good idea of how much time is devoted to the profession and what kind of business they are running.
Question #5
How Many Days on Average Does It Take You To Sell a Home?
What’s the average number of days on the marketfor properties listed by your prospective agent? Since this statistic can reach as high as six to nine months and in some cases and as much as a year, it is important to ask how your prospective agent ranks on the scale.
Questions #6
How Close Do You Get in Sale Price Related to Asking Price?
It is important to ask for this information as it relates to the past 60 days. Given that many agents are not that active in the market, you would be best served to obtain the most recent information possible. As a seller, your agent’s ability to come close to the asking price is a strong attribute and can mean a difference of thousands of dollars in your transaction.
Questions #7
What Percentage of Deals Do You Represent the Buyer Versus Seller?
Some agents work primarily with sellers while others work mostly with buyers and still others are experienced with dual-agency deals. Depending on your needs, you will benefit from an agent that specializes in one of the two. It is important to ask which side of the fence your prospective agent tends to represent.
Question #8
How Much of Your Work Day Do You Dedicate to the Real Estate Industry?
You want an agent that is 100% committed to their job and if they are focusing more on a day job with real estate being a secondary thing, you run the risk of inaccessibility, lack of knowledge and experience plus lackluster motivation. Find out how they feel about the real estate industry and whether they are passionate about their work.
Question #9
What is Your Style of Marketing – Proactive or Reactive?
What is your potential agent’s style of working? Does he or she speak to a large number of people each day? Are they proactive or reactive in nature when it comes tomarketing? See how this lines up with your real estate needs. Are you in a hurry to buy or sell? Does a laid back agent hinder your efforts? Or does slow and steady work better for you?
Question #10
What is the Rate of Homes Sold on a Monthly Basis?
Knowing the absorption rateof homes similar to yours that are on the market allows valuable insight as to how the market is performing for your particular needs. Not only does it give sellers a glimpse into the system and how it would translate to their own sale but it also presents a broader view of the entire market in general.
Nothing hurts more than to lose your home for any reason – and as we slowly recover from the devastating effects of our housing market crash from a few years ago, many people are still going through distressed situations.
As a seller, if a short sale seems your only option then the whole process can be daunting and intimidating. But with some patience and an eye on the future, people do get through it. As a buyer of a short sale property it can be equally as frustrating because like any other purchase, you want to get in as soon as possible! Here is what you can expect going into a short sale – either as a seller or a buyer – in terms of timing.
Short Sale Process Slowly Improving But Delays Are Still Possible
While no two transactions are the same, we are seeing a bit of change in the short sale circuit. With banks more eager to avoid the costly expenses associated with foreclosures, they are setting up streamlined processes that help to expedite the sale. Still, a typical short sale takes an average of about three months if there is only one bank involved. For those with second or third mortgages or a lien of some kind on the property it can take an average of about six months.
Like anything of this nature, there are things you can do to expedite the process but for the most part since there are so many steps required that involve more than one department, the whole process can really add up in time.
Some homeowners are considering applying for the HAFA program – a government program that gives homeowners alternatives to foreclosure, with benefits such as relocation assistance and the elimination of deficiency judgment risk. For more information about the HAFA program, you can visit their website or meet with our team and we can talk to you about whether HAFA might work for your individual situation. Of course, properties that fall under this program will entail an even further delay of about two more months above the traditional short sale timing.
Another factor that adds time to the number of months a typical short sale is processed in is whether or not the seller is pursuing a bankruptcy. If so, the sale can stall out an additional three to six months on top of the original timing.
Buyers Get Great Deals But Not Without Some Patience
From the perspective of a buyer, there is no question that a short sale is a great way to get a good deal. This is especially true these days when you combine that with historic low interest rates. But all this definitely comes at a price. The single biggest frustration for buyers of short sale homes is the constant uncertainty of how long it will take.
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We have done hundreds of short sales and experienced many different situations. If you have considered a short sale or would like to explore your options, I invite you to contact us today. We will gladly help you look at all the possibilities. And if you know of someone that would benefit from our help, please do not hesitate to share our information with them! We look forward to serving you.
