Welcome to 2013! I hope everyone had a great holiday season
and has started 2013 off with a bang; Real Estate in my area sure has after
all. Right now you might be saying “Wait, what's that? Is this guy trying to
tell me that Real Estate has turned the corner? He must be a real estate agent,
because everyone I know says it is terrible.”
I hear that a lot
too. It’s on the news every night; it’s on the radio every day. For awhile in
my area there was another broker who advertised on the radio you could buy
“twice the home for half the price” if you called them and used their ‘system’.
Here is the great thing about the Real Estate sales: Every single transfer or
sale is recorded by the county register of deeds. These records are also public
information. You can learn a lot by studying this information. For example,
although I primarily serve Genesee, Lapeer, Livingston and Oakland Counties the
largest percentage of my business happens in Oakland County. I study the trends
in this county more than any of the others I serve. Here is what happened in
Oakland County from Jan.1st, 2012 through Dec 31st, 2012
· Total sales
volume rose from 17,868 to 18,705 units. This
continued the year-over-year trend of increasing sales numbers.
· The Average Sold
Price jumped 13.5% from $133,479
to $154,258 (That is a big price
increase with relatively stable volume – that is huge! This can also indicate
other trends: 1. Bank owned and foreclosed properties are not as dominant a
force in the market any longer; 2. Buyers may have to compete with other buyers
when writing offers, often having to pay more than asking price; 3. The balance
of sellers and buyers is returning to a symbiotic level, leading to more market
stability and consumer confidence).
· The average days on
the market dropped 14.8% from 88 to 75. (This is an indicator that
inventory levels are continuing to fall. In many local markets, well maintained
homes that were priced appropriately sold in a matter of hours with multiple
offers.)
Hmmm…so 2011 was better than 2010 (it was, I did that homework too – I
will send it to you if you would like me too, send me an email request I will
happily pass it along). In 2012 your home would have sold 15% sooner and for
14% more than the previous year. Sounds like things are getting better, doesn’t
it?
Here is the best part: This information came directly from Oakland
County Public records. I didn’t have to make it up or create any fancy
marketing slogans. All I did have to do was do my homework. It wasn’t glamorous
or fun; it was time-consuming and tedious. It was necessary though. The truth
of the matter is this: success in selling Real Estate, like many other areas in
life, typically comes down to doing your homework.
Do I make nice brochures, signs, internet ads, Facebook postings,
videos, tweets, blogs, posts, status updates, email drips and postcards? Yes I
do. Do I hold open houses and broker tours? Yes I do. But I do my homework
first. And the grades are in – Real Estate is back!
Please feel free to share this blog with family, friends, people you
like or even that obnoxious co-worker who keeps saying how bad everything is in
the Real Estate Market. The only thing better then knowing good news is sharing
it!
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