Thursday, October 11, 2007

October 11, 2007

Not a significant number of changes to report today. However there were 13 new listings on tour yesterday. It's been a strange kind of week in real estate. 13 new listings, however the number of active listings only climbed about 4 houses since last week, the pendings actually fell 1 in the count and the solds climbed 5.

That is indicating some homes must have been removed from the marketplace (either through expiration or being withdrawn). When looking at the big picture, it really doesn't matter right now how a house comes off of the market. Of course if it your house we are talking about your house you would like to see it move to the Pending or Closed category. The big thing right now is to see the number of homes on the market decrease and to stimulate some buying activity.

One mini-trend this week is the number of recent listings (1-14 days) that are seeing a large number of showings and several receiving offers, while most of the older listings are seeing few showings and even fewer offers. We did notice on this weeks tour that several of the new listings were priced exceptionally well (at least two of this weeks tour homes and two from last weeks tour have received offers already).

There are buyers out there that are pre-approved with a lender, have no house to sell and are ready to buy, however sellers have to be realistic with their selling price and have the home completly ready to go when the house comes on the market.

One statement we hear time after time from sellers is "We just want to try it at this price for wo weeks". In a recent training seminar the trainer (David Knox) drove home the imporatnce of correct pricing during thre first two weeks by saying "sure you can try it at your price for two weeks, just not the first two weeks!!". Try to listen to your Real Estate Professional and their suggestions of price.

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