Go To:
http://3551westview.com/ to preview this lovely Evergreen Home in San Jose, CA. Call me at: 408.500.5000 to schedule viewing or to ask me how I can market your home and help you get the highest dollar amount possible. Call Today.
Thursday, June 5, 2008
Santa Clara County Inventory -Weekly Update
Date Single Family Res. Condos/Townhomes
Active Pending Active Pending
1/2/08 3940 616 1311 238
1/7/08 4034 574 1340 212
1/14/08 4172 562 1385 201
1/22/08 4293 600 1462 215
1/28/08 4331 670 1497 222
2/4/08 4348 707 1488 239
2/11/08 4504 749 1532 278
2/19/08 4587 854 1571 295
2/25/08 4663 918 1619 305
3/3/08 4723 944 1614 321
3/10/08 4819 1010 1665 321
3/17/08 4977 1058 1713 323
3/24/08 5092 1091 1719 353
3/31/08 5200 1094 1715 358
4/7/08 5280 1181 1737 364
4/14/08 5379 1287 1757 393
4/21/08 5407 1385 1769 412
4/28/08 5508 1431 1797 431
5/6/08 5529 1472 1787 443
5/12/08 5567 1498 1818 445
5/20/08 5652 1572 1822 467
5/27/08 5551 1680 1827 469
6/2/08 5468 1712 1821 478
Active Pending Active Pending
1/2/08 3940 616 1311 238
1/7/08 4034 574 1340 212
1/14/08 4172 562 1385 201
1/22/08 4293 600 1462 215
1/28/08 4331 670 1497 222
2/4/08 4348 707 1488 239
2/11/08 4504 749 1532 278
2/19/08 4587 854 1571 295
2/25/08 4663 918 1619 305
3/3/08 4723 944 1614 321
3/10/08 4819 1010 1665 321
3/17/08 4977 1058 1713 323
3/24/08 5092 1091 1719 353
3/31/08 5200 1094 1715 358
4/7/08 5280 1181 1737 364
4/14/08 5379 1287 1757 393
4/21/08 5407 1385 1769 412
4/28/08 5508 1431 1797 431
5/6/08 5529 1472 1787 443
5/12/08 5567 1498 1818 445
5/20/08 5652 1572 1822 467
5/27/08 5551 1680 1827 469
6/2/08 5468 1712 1821 478
Positive Signs In Real Estate!
1. Down payments are back! The days of having a decent price with a qualified buyer who has money for a down payment are back again. Not only do buyers appreciate the opportunities that American real estate provides, but they also end up being better neighbors and citizens. Their longevity of ownership is not so dependent upon the cyclical rates of appreciation and the cost of money. They are more apt to improve their real estate and their neighborhood.
2. The pros are back! The top real estate agents are actually pricing their listings for their clients and not fudging by giving them a value range. They have run from the pricing models that turn real estate into commodities, and they have gone back to pricing based upon individual property characteristics, thus minimizing comparable sales and emphasizing being below competing listings. Real estate is being declassified as a commodity by determining the client's needs first then developing customized marketing plans to achieve those goals.
3. Short sales are being utilized as a method to achieve a client's goals but only if it is profitable to the firm. In many cases, a foreclosure is more expedient and profitable for a seller than a short sale. However, a short sale may mitigate the credit damage to that seller. A short sale can multiply the difficulty of a regular transaction so top agents are taking them with the following provisions:
If the bank is acceptable to short pays up front
If the seller cares about their credit -- because if they don't, why do a short sale?
If the client did not exaggerate on the loan application (bank fraud!)
If the agent is only dealing with short sale lender -- multiple lenders on a short sale make it nearly impossible
If you receive an over-retail amount of commission for their additional work
If the seller agrees to add funding of their own to help mitigate the damages to the bank
If there is no time or money spent by the agent until a preliminary title report is received
4. Fewer buyers are being accepted and more sellers are being obtained. As markets become a little more challenging, the prevailing wisdom has been to increase buyer inventory when exactly the opposite is required. The business has always been about owning inventory. At a time when buyers become more anxious, they automatically require more time of the agent to make a decision. This is the time to increase your listing inventory by multiples of the increase in your MLS inventory.
Utilize the listings to attract more buyers. Buyers are then put through tighter pre-approval processes, requiring them to not only answer numerous counseling questions but also to indicate their financial qualifications and prove their sincerity by coming to a face-to-face meeting. At this meeting, all buyers sign an exclusive representation agreement.
5.The race to see who has the lowest commission is over with. Sellers who need to have a job done in a challenging market need a professional. Professionals charge full fees or more. When a seller is properly counseled, they are more interested in what their eventual net is and less interested in the commission amount.
6.Top agents, no matter their age, are starting to understand that real estate requires energy. At some point, age is opposite of energy, and the manta becomes, "I'd like my money to work for me instead of me working for my money." Top agents all over the country are developing savings and investment plans, especially as real estate becomes more affordable. Agents are beginning to realize what a property looks like when it is at the bottom of the market and how long-term investment strategies can be implemented by being their own best client.
2. The pros are back! The top real estate agents are actually pricing their listings for their clients and not fudging by giving them a value range. They have run from the pricing models that turn real estate into commodities, and they have gone back to pricing based upon individual property characteristics, thus minimizing comparable sales and emphasizing being below competing listings. Real estate is being declassified as a commodity by determining the client's needs first then developing customized marketing plans to achieve those goals.
3. Short sales are being utilized as a method to achieve a client's goals but only if it is profitable to the firm. In many cases, a foreclosure is more expedient and profitable for a seller than a short sale. However, a short sale may mitigate the credit damage to that seller. A short sale can multiply the difficulty of a regular transaction so top agents are taking them with the following provisions:
If the bank is acceptable to short pays up front
If the seller cares about their credit -- because if they don't, why do a short sale?
If the client did not exaggerate on the loan application (bank fraud!)
If the agent is only dealing with short sale lender -- multiple lenders on a short sale make it nearly impossible
If you receive an over-retail amount of commission for their additional work
If the seller agrees to add funding of their own to help mitigate the damages to the bank
If there is no time or money spent by the agent until a preliminary title report is received
4. Fewer buyers are being accepted and more sellers are being obtained. As markets become a little more challenging, the prevailing wisdom has been to increase buyer inventory when exactly the opposite is required. The business has always been about owning inventory. At a time when buyers become more anxious, they automatically require more time of the agent to make a decision. This is the time to increase your listing inventory by multiples of the increase in your MLS inventory.
Utilize the listings to attract more buyers. Buyers are then put through tighter pre-approval processes, requiring them to not only answer numerous counseling questions but also to indicate their financial qualifications and prove their sincerity by coming to a face-to-face meeting. At this meeting, all buyers sign an exclusive representation agreement.
5.The race to see who has the lowest commission is over with. Sellers who need to have a job done in a challenging market need a professional. Professionals charge full fees or more. When a seller is properly counseled, they are more interested in what their eventual net is and less interested in the commission amount.
6.Top agents, no matter their age, are starting to understand that real estate requires energy. At some point, age is opposite of energy, and the manta becomes, "I'd like my money to work for me instead of me working for my money." Top agents all over the country are developing savings and investment plans, especially as real estate becomes more affordable. Agents are beginning to realize what a property looks like when it is at the bottom of the market and how long-term investment strategies can be implemented by being their own best client.
Subscribe to:
Posts (Atom)
