This report pertains to residential homes on less than 10 acres sold for the week of Aug 24th to Aug 30th as reported by the Lebanon Board of Realtors MLS.
This week there were 5 homes sold for a total of 650 thousand. The average price of these homes was 130 thousand and the median price at 122 these homes had an average time on the market of 137 days. There are currently 18 homes listed as under contract in the Lebanon MLS and those homes have an average price of 143 thousand.
Year to date there have been 226 homes sold, down from last years 277 during the same time frame, the average price is just over
113 thousand dollars compared to last years 105K; the YTD volume of 25.6 million is under last years 29.1 million. Our average time on the market this year has been 134 days, that’s up some from last years 114 day average.
As of this morning there were 328 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 154 with median asking price of just about 131; these homes have an average time on the market of 126 days.
Well in looking where we stand this year it’s no secret that our market is down. In fact compared to 2006 we are down 21 percent in total sales and 18.5 percent in total dollar volume, and compared to 2005 we are down 28 percent in total sales and 23% in dollar volume. It seems to be markets like these that consumers can really see who in a local Real Estate market understands what it takes to sell homes, regardless of market conditions. Be sure and ask your REALTOR the following questions when you are considering selling your home: What is your list price to sale price ratio? That percentage is the average amount below listed price a home sells for and indicates how well your agent is negotiating on your behalf. Also ask this: What percentage of your listings sell? You might be surprised to find out that there are few who even know these numbers. Make sure you also ask what the averages are for your area so you have something to compare it to. I track these figure on a regular basis so we can stay focused on our goals and ensure we are providing the most professional service around. In a slow market you need experienced, full time, committed executives on your side. We always encourage you to talk with at least 3 realtors because we know that in the end you will see for yourself what - experience excellence means.
Archive for August of 2007
Weekly Market Report 8-31-07
August 31, 2007Weekly Market Report 8-24-07
August 24, 2007
This report pertains to residential homes on less than 10 acres sold for the week of Aug 17th to Aug 23rd as reported by the Lebanon Board of Realtors MLS.
This week there were 8 homes sold for a total of just under 1.1 Million. The average price of these homes was over 135 thousand and the median price at 114 these homes had an average time on the market of 191 days. There are currently 18 homes listed as under contract in the Lebanon MLS and those homes have an average price of 139 thousand.
Year to date there have been 220 homes sold, down from last years 264 during the same time frame, the average price is just over
113 thousand dollars compared to last years 103K; the YTD volume of 24.9 million is under last years 27.3 million. Our average time on the market this year has been 134 days, that’s up some from last years 114 day average.
As of this morning there were 328 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 156 with median asking price of just about 135; these homes have an average time on the market of 126 days.
As you may have heard there’s good news on the national housing front
new-home sales rose 2.8 percent in July, after falling 4 percent in June. The increase in July lifted sales to a seasonally adjusted annual rate of 870,000 units.
In the housing report, the improvement in sales reflected gains in the West and the South, where sales went up by 22.4 percent and 0.6 percent respectively. Sales, however, tumbled 24.3 percent in the Northeast and were down 0.9 percent in the Midwest.
Well what does all this mean for us here in Lebanon, I think it’s a sign that home builders are sick of sitting on finished homes and have offered up enough incentives to motivate people to buy. Guess what, here in Lebanon there are lots of homes on the market with motivated sellers so now is the time to look for a great deal.
This week there were 8 homes sold for a total of just under 1.1 Million. The average price of these homes was over 135 thousand and the median price at 114 these homes had an average time on the market of 191 days. There are currently 18 homes listed as under contract in the Lebanon MLS and those homes have an average price of 139 thousand.
Year to date there have been 220 homes sold, down from last years 264 during the same time frame, the average price is just over
113 thousand dollars compared to last years 103K; the YTD volume of 24.9 million is under last years 27.3 million. Our average time on the market this year has been 134 days, that’s up some from last years 114 day average.
As of this morning there were 328 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 156 with median asking price of just about 135; these homes have an average time on the market of 126 days.
As you may have heard there’s good news on the national housing front
new-home sales rose 2.8 percent in July, after falling 4 percent in June. The increase in July lifted sales to a seasonally adjusted annual rate of 870,000 units.
In the housing report, the improvement in sales reflected gains in the West and the South, where sales went up by 22.4 percent and 0.6 percent respectively. Sales, however, tumbled 24.3 percent in the Northeast and were down 0.9 percent in the Midwest.
Well what does all this mean for us here in Lebanon, I think it’s a sign that home builders are sick of sitting on finished homes and have offered up enough incentives to motivate people to buy. Guess what, here in Lebanon there are lots of homes on the market with motivated sellers so now is the time to look for a great deal.
Weekly Market Report 8-17-07
August 17, 2007
This report pertains to residential homes on less than 10 acres sold for the week of Aug 10th to Aug 16th as reported by the Lebanon Board of Realtors MLS.
This week there were 6 homes sold for a total of just under 613K. The average price of these homes was over 102 thousand and the median price at 74 these homes had an average time on the market of 120 days. There are currently 20 homes listed as under contract in the Lebanon MLS and those homes have an average price of 120 thousand.
Year to date there have been 209 homes sold, down from last years 254 during the same time frame, the average price is just over
113 thousand dollars compared to last years 104K; the YTD volume of 23.6 million is under last years 26.4 million. Our average time on the market this year has been 132 days, that’s up some from last years 113 day average.
As of this morning there were 325 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 159 with median asking price of just about 136; these homes have an average time on the market of 128 days.
Well it’s been hard to beat the heat this week, unless you live on the river or have a pool in the back yard. In fact its heat like this that makes many people consider putting in a swimming pool. A swimming pool is a great thing to have but make sure you keep in mind all of the factors. In most cases a swimming pool won’t increase the value of your property, there are as many people who will eliminate a home because of a pool as there are those who would enjoy it. Pools come with added responsibility as well, additional maintenance and winter-proofing, plus added liabilities which typically translate to higher insurance rates. If you will enjoy the pool enough to compensate for the cost of putting it in then go for it, but don’t plan on getting that 15 to 40 thousand back when you sell. The compromise might be an above ground pool, and then you can take it with you when you go. When you are planning home improvement and re-sale is a concern, please don’t hesitate to give me a call and I am happy to give you some direction so the improvements you make translate to higher resale profits.
This week there were 6 homes sold for a total of just under 613K. The average price of these homes was over 102 thousand and the median price at 74 these homes had an average time on the market of 120 days. There are currently 20 homes listed as under contract in the Lebanon MLS and those homes have an average price of 120 thousand.
Year to date there have been 209 homes sold, down from last years 254 during the same time frame, the average price is just over
113 thousand dollars compared to last years 104K; the YTD volume of 23.6 million is under last years 26.4 million. Our average time on the market this year has been 132 days, that’s up some from last years 113 day average.
As of this morning there were 325 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 159 with median asking price of just about 136; these homes have an average time on the market of 128 days.
Well it’s been hard to beat the heat this week, unless you live on the river or have a pool in the back yard. In fact its heat like this that makes many people consider putting in a swimming pool. A swimming pool is a great thing to have but make sure you keep in mind all of the factors. In most cases a swimming pool won’t increase the value of your property, there are as many people who will eliminate a home because of a pool as there are those who would enjoy it. Pools come with added responsibility as well, additional maintenance and winter-proofing, plus added liabilities which typically translate to higher insurance rates. If you will enjoy the pool enough to compensate for the cost of putting it in then go for it, but don’t plan on getting that 15 to 40 thousand back when you sell. The compromise might be an above ground pool, and then you can take it with you when you go. When you are planning home improvement and re-sale is a concern, please don’t hesitate to give me a call and I am happy to give you some direction so the improvements you make translate to higher resale profits.
Weekly Market Report 8-11-07
August 11, 2007
This report pertains to residential homes on less than 10 acres sold for the week of Aug 3 to Aug 10th as reported by the Lebanon Board of Realtors MLS.
This week there were 4 homes sold for a total of just over 730K. The average price of these homes was over 182 thousand and the median price at 130 these homes had an average time on the market of 126 days. There are currently 20 homes listed as under contract in the Lebanon MLS and those homes have an average price of 130 thousand.
Year to date there have been 203 homes sold, down from last years 244 during the same time frame, the average price is just over
113 thousand dollars compared to last years 103K; the YTD volume of 23 million is under last years 25.2 million. Our average time on the market this year has been 133 days, that’s up some from last years 113 day average.
As of this morning there were 321 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 157 with median asking price of just about 135; these homes have an average time on the market of 126 days.
Marketing is a subject often over looked by those thinking of selling their home. Be sure you know what your realtor is going to do to market your home. An ad in the paper no longer does the trick; it has to be extensive and compelling. Did you know that 85% of buyers shop for a home on the internet 1st? That’s before they ever talk with an agent. Be sure that when you are shopping for a realtor that you go to their web site and compare it to their competitors. If you are not internet savvy, ask a neighbor or a friend, or come by and ask me I am happy to bring up any web site you want to see and help you navigate through it. Your top professional Realtors in any market should have a comprehensive internet marketing plan that is designed to capture prospects that show interest in your home. Here at Realty Executives we have that and we are excited to announce that we have recently added Video to our marketing plan. A professionally produced video goes a long way toward getting a buyer emotionally engaged in your property before they ever see it. Video is the future of internet marketing, we are there because we are different, and will always be on the cutting edge.
This week there were 4 homes sold for a total of just over 730K. The average price of these homes was over 182 thousand and the median price at 130 these homes had an average time on the market of 126 days. There are currently 20 homes listed as under contract in the Lebanon MLS and those homes have an average price of 130 thousand.
Year to date there have been 203 homes sold, down from last years 244 during the same time frame, the average price is just over
113 thousand dollars compared to last years 103K; the YTD volume of 23 million is under last years 25.2 million. Our average time on the market this year has been 133 days, that’s up some from last years 113 day average.
As of this morning there were 321 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 157 with median asking price of just about 135; these homes have an average time on the market of 126 days.
Marketing is a subject often over looked by those thinking of selling their home. Be sure you know what your realtor is going to do to market your home. An ad in the paper no longer does the trick; it has to be extensive and compelling. Did you know that 85% of buyers shop for a home on the internet 1st? That’s before they ever talk with an agent. Be sure that when you are shopping for a realtor that you go to their web site and compare it to their competitors. If you are not internet savvy, ask a neighbor or a friend, or come by and ask me I am happy to bring up any web site you want to see and help you navigate through it. Your top professional Realtors in any market should have a comprehensive internet marketing plan that is designed to capture prospects that show interest in your home. Here at Realty Executives we have that and we are excited to announce that we have recently added Video to our marketing plan. A professionally produced video goes a long way toward getting a buyer emotionally engaged in your property before they ever see it. Video is the future of internet marketing, we are there because we are different, and will always be on the cutting edge.
Weekly Market Report 8-3-07
August 03, 2007
This report pertains to residential homes on less than 10 acres sold for the week of July 27th to Aug 2nd as reported by the Lebanon Board of Realtors MLS.
This week there were 11 homes sold for a total of just over 1 million. The average price of these homes was over 95 thousand and the median price at 82 these homes had an average time on the market of 182 days. There are currently 20 homes listed as under contract in the Lebanon MLS and those homes have an average price of 140 thousand.
Year to date there have been 197 homes sold, down from last years 244 during the same time frame, the average price is just over
112 thousand dollars compared to last years 103K; the YTD volume of 22 million is under last years 25.2 million. Our average time on the market this year has been 134 days, that’s up some from last years 113 day average.
As of this morning there were 319 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 158 with median asking price of just about 137; these homes have an average time on the market of 125 days.
Well today I want to talk about the increasing trend in flipping houses. In the past few years I have been asked about flipping houses more often than almost anything and I always try to remind people that there is risk in any investment you make. Finding the right opportunity to make a short term profit on a real estate investment is always going to be the hard part. When those opportunities show up you have to be in a position to move quickly, this also means being educated about housing values and demand. Making a large short term profit in a real estate purchase is much more difficult in a small town; most of the best investments are in larger markets. When you estimate how much it will cost to renovate, upgrade, or repair always assume that number will go up. Very few people are capable of staying on budget; you are almost guaranteed to find an unexpected expense or 2, or 3, or even 10. When you find a good property to flip remember you don’t just have to buy right, you have to sell right, that means offering the renovated property in a way that will attract the highest number of buyers. If you have a property you are looking at and considering it for a short term profit, don’t hesitate to call a competent realtor to look at it, they should be capable of giving you good information about its resale possibilities, and the potential pitfalls, they will also be grateful to have an opportunity to earn your business.
This week there were 11 homes sold for a total of just over 1 million. The average price of these homes was over 95 thousand and the median price at 82 these homes had an average time on the market of 182 days. There are currently 20 homes listed as under contract in the Lebanon MLS and those homes have an average price of 140 thousand.
Year to date there have been 197 homes sold, down from last years 244 during the same time frame, the average price is just over
112 thousand dollars compared to last years 103K; the YTD volume of 22 million is under last years 25.2 million. Our average time on the market this year has been 134 days, that’s up some from last years 113 day average.
As of this morning there were 319 homes with less than 10 acres, listed with the Lebanon MLS. The average asking price is 158 with median asking price of just about 137; these homes have an average time on the market of 125 days.
Well today I want to talk about the increasing trend in flipping houses. In the past few years I have been asked about flipping houses more often than almost anything and I always try to remind people that there is risk in any investment you make. Finding the right opportunity to make a short term profit on a real estate investment is always going to be the hard part. When those opportunities show up you have to be in a position to move quickly, this also means being educated about housing values and demand. Making a large short term profit in a real estate purchase is much more difficult in a small town; most of the best investments are in larger markets. When you estimate how much it will cost to renovate, upgrade, or repair always assume that number will go up. Very few people are capable of staying on budget; you are almost guaranteed to find an unexpected expense or 2, or 3, or even 10. When you find a good property to flip remember you don’t just have to buy right, you have to sell right, that means offering the renovated property in a way that will attract the highest number of buyers. If you have a property you are looking at and considering it for a short term profit, don’t hesitate to call a competent realtor to look at it, they should be capable of giving you good information about its resale possibilities, and the potential pitfalls, they will also be grateful to have an opportunity to earn your business.
