Real Estate Blog

Monday, 22 February 2010

Big Canoe Community Jan.'10 Market Trends Report

· Current Home Inventory in Big Canoe is now at 208 vs. 215 in December. Please note inventory numbers below.

· Days on market for January were 116 vs. 193 in December (Homes sold). 246 Days on market (Homes for sale).

· Big Canoe’s overall month’s supply of inventory is 30.4 months vs. 25.6 last month.

· 5 homes have sold YTD vs. 4 homes YTD January 2009 vs. 4 homes YTD January 2008 vs. 2 homes YTD in January 2007 vs. 9 Homes YTD January 2006.

· The average sales price in January was $376,000 compared to $302,750 in January 2009.

Big Canoe Community Homes Sold YTD 2010:

Price Range	# of Homes Sold in Price Range	% Representing Homes Sold	Homes Listed	% Listed
Less than $200K	1	20%	13	6%
$201K - $250K	1	20%	12	6%
$251K - $300K	0	0%	22	11%
$301K - $350K	0	0%	23	11%
$351K - $400K	1	20%	32	15%
$401K - $450K	1	20%	8	4%
$451K - $500K	0	0%	19	9%
$501K - $550K	0	0%	10	5%
$551K - $600K	0	0%	13	6%
$601K - $700K	0	0%	24	12%
$701K - $800K	0	0%	8	4%
$801.0 >	1	20%	24	12%
TOTAL	5	100%	208	100%

Summary:

Overall volume (dollars) in The Community of Big Canoe is up 16.42% (+$364.6k) vs. YTD 2009.

Well, we are off to a better start vs. 2009 in both units and dollars. Hopefully this trend will beat what the National Association of REALTORS® (NAR) has just released for their 2010 forecast. It is as follows: Existing Home Sales will be up 9.9%; New Homes up 40.2% (cleaning the pipeline); New Construction up 8.8%. Existing home prices will rise 3.7% and the same for New Construction prices (+3.7%). Note: we believe Big Canoe will beat the NAR forecast in 2010. Be with us as we market your home for optimum exposure and a sold sign.

NAR also predicts interest rates will rise close to 6% later this year (still not bad). Spread the word: The bottom is finally here (prices will rise) and so will rates.

One final note: Like the stock market, we only know when the market has bottomed when it’s on its way back up. Well, if you know of anyone sitting on the sidelines, tell them it’s time to jump in!

And remember, we love referrals!

www.TheBeechlerGroup.com and www.BestMountainProperties.com for all your real estate needs.

Until next time,

Tom and Kelly

Owner / Broker

Century 21 Best Mountain Properties

Source: Broker Metrics / FMLS

POSTED BY: Tom Beechler AT 12:49 pm | Permalink | E-mail this

Tuesday, 09 February 2010

Big Canoe Community Dec.'09 Market Trends Report

· Current Home Inventory in Big Canoe is now at 215 vs. 220 in November. Please note inventory numbers below.

· Days on market for December were 193 vs. 378 in November (Homes sold). 250 Days on market (Homes for sale).

· Big Canoe’s overall month’s supply of inventory is … 25.6 months vs. 24.2 last month.

· 79 homes have sold YTD vs. 73 homes YTD December 2008 vs. 112 homes YTD December 2007 vs. 166 homes YTD in December 2006 vs. 191 Homes YTD December 2005.

· The average sales price in December was $220,000 compared to $476,000 in December 2008.

Big Canoe Community Homes Sold YTD 2009:

Price Range	# of Homes Sold in Price Range	% Representing Homes Sold	Homes Listed	% Listed
Less than $200K	18	23%	13	6%
$201K - $250K	6	8%	12	6%
$251K - $300K	12	15%	27	13%
$301K - $350K	13	16%	21	10%
$351K - $400K	9	11%	31	14%
$401K - $450K	6	8%	15	7%
$451K - $500K	2	3%	16	7%
$501K - $550K	8	10%	13	6%
$551K - $600K	2	3%	11	5%
$601K - $700K	2	3%	22	10%
$701K - $800K	1	1%	11	5%
$801.0 >	0	0%	23	11%
TOTAL	79	100%	215	100%

Summary:

Overall volume (dollars) in The Community of Big Canoe is down 11.49% (-$3.9M) vs. YTD 2008.

Wow, 73% of the homes in Big Canoe sold for under $400,000. In 2008, the number was 56%. So the question is – Are there buyers? Yes, we sold six more homes in 2009, but at a much lower price point.

Will this momentum continue? We think so! The Real Estate Confidence Index (RECI) jumped 7.87% in December. The RECI is now at 6.03; on a scale of 1-10 (1 being “bad” and 10 being “good”) we feel the upward momentum will continue into the summer. There are many elements in our favor, such as Tax Credits, Interest Rates, Aggressive Pricing and Inventory. Let’s all spread the “word”.

Well, 2009 is over. As an industry, it’s glad it’s over. Many brokers closed their doors, many agents just gave up. As your broker/agent, we never gave up. We stepped up training/coaching, we increased our print advertising campaign, we refined our listing marketing tools, we improved our processes. Lastly, we launched two new websites. Yes, we invested in our business to be ready for the market up tick. And it will happen!

In closing, we thank all of our clients for entrusting us with the buying or selling of your home. Day in and day out, we look for new ways to improve our business, this we do for you. We would also like to acknowledge our agent partners…they’re the BEST!

And remember, we love referrals!

www.TheBeechlerGroup.com and www.BestMountainProperties.com for all your real estate needs.

Until next time,

Tom and Kelly

Owner / Broker

Century 21 Best Mountain Properties

Source: Broker Metrics / FMLS

POSTED BY: Tom Beechler AT 09:17 am | Permalink | E-mail this

Saturday, 06 February 2010

Big Canoe Community Nov. '09 Market Trends Report

· Current Home Inventory in Big Canoe is now at 220 vs. 241 in October. Please note inventory numbers below.

· Days on market for November were 378 vs. 154 in October (Homes sold). 237 Days on market (Homes for sale).

· Big Canoe’s overall month’s supply of inventory is … 24.2 months vs. 64.2 last month.

· 65 homes have sold YTD vs. 71 homes YTD November 2008 vs. 98 homes YTD November 2007 vs. 154 homes YTD in November 2006 vs. 174 Homes YTD November 2005.

· The average sales price in November was $285,000 compared to $484,600 in November 2008.

Big Canoe Community Homes Sold YTD 2009:

Price Range

# of Homes Sold in Price Range

% Representing Homes Sold

Homes Listed

% Listed

Less than $200K

11

17%

14

7%

$201K - $250K

5

8%

12

6%

$251K - $300K

11

17%

24

10%

$301K - $350K

10

15%

23

10%

$351K - $400K

8

12%

31

13%

$401K - $450K

5

8%

15

7%

$451K - $500K

2

3%

18

9%

$501K - $550K

8

12%

13

6%

$551K - $600K

2

3%

12

5%

$601K - $700K

2

3%

22

10%

$701K - $800K

1

2%

12

6%

$801.0 >

0

0%

24

10%

TOTAL

65

100%

220

100%

Summary:

Overall volume (dollars) in The Community of Big Canoe is down 26.41% (-$8.6M) vs. YTD 2008.

You’re reading it correctly…only one home closed in the month of November in Big Canoe. On the plus side, overall inventory has fallen by 21 homes. The biggest drop being in the $350.0k to $550.0k price range.

On a positive note: From a National level perspective, pending home sales have risen for the last nine months in a row. This is a first for this Index since its inception in 2001. Additionally, existing home sales surged 10.1% in October.

Last month we reported on the Repeat and First Time Home Buyer Tax Credit. For many of us in Big Canoe, the $6,500 tax credit has some real advantages. This tax credit applies to those of us who have lived in our current home, five out of the last eight years on a full-time basis. If this is you, you can use this credit to move up or down. Note: you do not have to sell your current home to do so! Please pass this information on to friends and family. For more information, go to our website at www.TheBeechlerGroup.com and click on our Tax Credit Icon.

With the holidays upon us, activity has slowed, just like it does every year. Use this time to get your home in tip-top shape for the first of the year.

In closing, we would like to thank those of you who looked at our new website. Your positive comments were most appreciated.

Finally, we wish all of you a very “Merry Christmas”.

And remember, we love referrals!

www.TheBeechlerGroup.com and www.BestMountainProperties.com for all your real estate needs.

Until next time,

Tom and Kelly

Owner / Broker

Century 21 Best Mountain Properties

Source: Broker Metrics / FMLS

POSTED BY: Tom Beechler AT 10:02 am | Permalink | E-mail this

Saturday, 06 February 2010

Big Canoe Community October '09 Market Trends Report

· Current Home Inventory in Big Canoe is now at 241 vs. 241 in September. Please note inventory numbers below.

· Days on market for October were 154 vs. 65 in September (Homes sold). 228 Days on market (Homes for sale).

· Big Canoe’s overall month’s supply of inventory is … 64.2 months vs. 28.3 last month.

· 64 homes have sold YTD vs. 63 homes YTD October 2008 vs. 88 homes YTD October 2007 vs. 138 homes YTD in October 2006 vs. 172 Homes YTD October 2005.

· The average sales price in October was $347,500 compared to $396,357 in October 2008.

Big Canoe Community Homes Sold YTD 2009:

Price Range	# of Homes Sold in Price Range	% Representing Homes Sold	Homes Listed	% Listed
Less than $200K	11	17%	16	7%
$201K - $250K	5	8%	15	6%
$251K - $300K	10	16%	25	10%
$301K - $350K	10	16%	23	10%
$351K - $400K	8	13%	32	13%
$401K - $450K	5	8%	18	7%
$451K - $500K	2	3%	22	9%
$501K - $550K	8	13%	15	6%
$551K - $600K	2	3%	13	5%
$601K - $700K	2	3%	24	10%
$701K - $800K	1	2%	14	6%
$801.0 >	0	0%	24	10%
TOTAL	64	100%	241	100%

Summary:

Overall volume (dollars) in The Community of Big Canoe is down 25.32% (-$8.2M) vs. YTD 2008.

Although unit sales (64 vs. 63) are up YTD, you can see that the average sales price is down almost $50.0k. And yes, for those of you with homes on the market below $400.0k, we saw 4 more homes close in the month of October. Homes in Big Canoe priced below $400.0k now represent 71% of all closed transactions YTD.

In an effort to create step up home activity in Big Canoe, a couple of things have happened.

#1) The Beechler Group (Tom & Kelly Beecher & Team) have officially launched their new website, www.MountainRealEstateLIfestyles.com. Yes, it’s called Lifestyles, for most of us moved to Big Canoe to change/improve our “Lifestyles”. Check it out, read the blog, tell us what you think of the site. Note: We are still working on the “Local Resources”.

#2) Repeat & First Time Buyer Tax Credits: Did you hear congress extended the First Time Home Buyer Credit AND added a little for those of us who already own real estate? The First Time Home Buyer Credit is up to $8,000 and the Repeat Home Buyer Credit is up to $6,500. If you could purchase a home and get back $8,000 MAYBE it is time to think about making a purchase!

In the meantime, it’s still a buyer’s market and one of our Buyer Specialists would love to help you or someone you know find your first or next home.

Remember, most buyers that look at real estate during the next six weeks are usually very interested. So once again, make sure your home shows at its “Best”!

Finally, we wish all of you a very, very “Happy Thanksgiving”.

And remember, we love referrals!

www.TheBeechlerGroup.com and www.BestMountainProperties.com for all your real estate needs.

Until next time,

Tom and Kelly

Owner / Broker

Century 21 Best Mountain Properties

Source: Broker Metrics / FMLS

POSTED BY: Tom Beechler AT 09:58 am | Permalink | E-mail this