Real Estate Statistics


You may have noticed that the world of business is much like the weather – if you don’t like it, wait a little and it will change.  Real estate is no different.  If you look at the news you will read that the market is falling off a cliff, then the next day someone, somewhere comes out with some numbers and the market doesn’t look all that bad.

The problem is that real estate is a local matter.  Many times the numbers that are reported on the news are for the nation as a whole, or more likely for an area that has doom and gloom results, yet clearly real estate is influenced by local matters such as plant closings or even openings, taxes, schools, environmental issues and even the weather.  After a hurricane tears through a community it is probably hard to sell real estate, yet let a snow storm hit in the north a few months later and many of those folks would probably be glad to move into a hurricane area.

Recently the Williamson County (Tennessee) Association of REALTORS, of which I am a member, issued their monthly statistics for July, 2011.  With all the negative news swirling around, it was good to see that residential  closings increased 6.3% from the previous month and 26.2% from July 2010.  Some how that kind of information just does not make the evening news – it doesn’t sell news!!

The other good news is that the inventory level decreased which means there are fewer houses on the market than the previous July.  In addition, the number of days on the market also decreased.  This is good news for the real estate market, at least in Williamson County, Tennessee.

Unfortunately, these numbers were driven by a 9.9% decrease in the median price for July.  However, the median price for July, 2011 is up about 3% compared to July, 2009.  This underscores the point I made in another posting on the importance of pricing your home right.

I still believe that home ownership is an extremely important part of our lives and that anyone who wants to own a home, should not let the market deter them.  In fact, with home prices starting to creep back up, this might be a great time to get into a home of your dreams.

I would love to hear from you.

Roland

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The Real Estate Market


Dear Reader:
A day doesn’t seem to go by without receiving bad news about something – everything at times.  Recently the market dropped over 600 points and the media spent the entire evening spewing out how things were going to get worse the next day.  They did not, the market went up – not the full amount lost the day before, but it did go up.  We focus on market results on a daily basis, however, as any investor will tell you, it is better to be in the market for the long haul, and that means ups and downs.
Real estate is no exception.  When the market turns down, as it  most surely has in recent years, the fear that kicks in makes the pesimistic predictions a reality to some.  Yet real estate, in my opinion, and in that of many other folks, is still a good buy for people.  It is not just a purchase of real estate, but it is also a home to live your life, build memories and feel secure.  It is “an investment” for the long haul and people should remember, it is the long haul that makes it worth while.The purpose of this blog is re-instill the value of homeownership and provide information that will hopefully help anyone who is thinking of buying real estate.  The topics will cover the gamut of having a real estate agent, the difference between a real estate agent and a REALTOR, insurance, mortgages, etc.  Questions that you may have are invited and I will try to cover as much of the requests as I can.Now for the disclaimer:  I am a real estate agent with Coldwell Banker Barnes in Cool Springs, Tennessee.  I am also a REALTOR ( more on that later).  I would certainly welcome any referrals or interest you may have in buying or selling real estate, but this blog is about information to help you, the real estate buyer or seller.  FSBOs may be helped with this blog.  FSBOs are welcome to submit questions about any issues they may have.

To sum up the first posting, let me just say that interest rates are around 4.5% for a fixed, 30 year mortgage right now.  That is an unbelievably low interest rate and should entice home buyers to get into the market.  I would suggest that if you are interested you should contact a mortgage broker and/or a REALTOR to help you through the process.  These services should be free and they can at least tell you where you need to start.

Second, if you are trying to sell your home, ask your real estate agent for a CMA (Comparative Market Analysis).  This should tell you a range of what you could expect to sell your house for.  The kiss of death in this market is to price your home to high.  Have a realistic conversation with your agent.  The price may not be what you would like, but it is more important to price the home where it will sell and not what you would like to get out of it.

Roland

Real Estate Poll


Hello world!


This blog is about real estate – all about real estate.  I will try to provide as much information as I can about the market, what you may want to look for, and how to select a real estate agent.  Any questions you may have are welcome and I will try to address what I can to help you the real estate buyer and/or seller.  You hear alot about how badly the market is doing, but in reality, this may be the ideal time to buy or sell real estate.

Now for the disclaimer which I will post periodically.  I am a real estate agent and REALTOR (more about the difference later) with Coldwell Banker Barnes in Franklin, Tennessee and would love to do business with you.  But the purspose of this blog is to provide information.  If I give you information that is useful, I have accomplished what I set out to do.  If it is information that does not suit you, throw it out and use what info is helpful.  It is all about you!

If you have any questions or comments, please feel free to leave them through the blog or you can contact me through my website at RolandLow.ColdwellBankerBarnes.com.

I look forward to hearing from you and helping you in any way I can.

Roland

The Never/Ever Changing World of Real Estate


Dear Reader:

A day doesn’t seem to go by without receiving bad news about something – everything at times.  Yesterday the market dropped over 600 points and the media spent the entire evening spewing out how things were going to get worse the next day.  Although it certainly did not recover the 634 points lost the previous day, it did make an upward turn.  And once that happens people start to focus on other, more dire, topics.

Real estate is no exception.  When the market turns down, as it  most surely has in recent years, the fear that kicks in makes the pesimistic predictions a reality to some.  Yet real estate, in my opinion, and in that of many other folks is still a good buy for people.  It is not just a purchase of real estate, but it is also a home to live your life, build memories and feel secure.

The purpose of this blog is re-instill the value of homeownership and provide information that will hopefully help anyone who is thinking of buying real estate.  The topics will cover the gamut of having a real estate agent, the difference between a real estate agent and a REALTOR, insurance, mortgages, etc.  Questions that you may have are invited and I will try to cover as much of the requests as I can.

Now for the disclaimer:  I am a real estate agent with Coldwell Banker Barnes in Cool Springs, Tennessee.  I am also a REALTOR ( more on that later).  I would certainly welcome any referrals or interest you may have in buying or selling real estate, but this blog is about information to help you, the real estate buyer or seller.  FSBOs may be helped with this blog.  FSBOs are welcome to submit questions about any issues they may have.

To sum up the first posting, let me just say that interest rates are around 4.5% for a fixed, 30 year mortgage right now.  That is an unbelievably low interest rate and should entice home buyers to get into the market.  I would suggest that if you are interested you should contact a mortgage broker and/or a REALTOR to help you through the process.  These services should be free and they can at least tell you where you need to start.

Second, if you are trying to sell your home, ask your real estate agent for a CMA (Comparative Market Analysis).  This should tell you a range of what you could expect to sell your house for.  The kiss of death in this market is to price your home to high.  Have a realistic conversation with your agent.  The price may not be what you would like, but it is more important to price the home where it will sell and not what you would like to get out of it.

Talk to you soon,

 

Roland

Whether you are a first time home buyer, moving up, scaling down or an investor in real estate, this blog has something for you!

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