One agent says it is slowest quarter in 3 years but he also agrees that results he is achieving are a direct result of the activities he has participated in the previous 120 days. We all know what we need to do – you just have to do it. Others continue to stay busy. Here is the office activity the last few weeks: 36 sales 14 listing, 18 sales 10 listing, 30 sales 20 listings, and 20 sales 5 listings – a little up and down don’t you think?
Houses have to be jazzed up – granite, stainless, hardwood floors but most importantly price. Buyers want everything in the house with nothing to have to do to fix it up and at the lowest price. Pricing is a fine line today…price it right, not a little high to getter done
Banks are negotiating cash or financing loans to offset the differences. Joe negotiated a deal with bank, they were $250,000 upside down bank wanted $40,000 cash to close – he negotiated $30,000 loan for 10 years no interest or $15,000 cash at any time.
Inventory levels are up – where is the market? Not completely crystalized on the next quarter and what it is going to bring us. Rates need to bump up to get people off the fence – we keep saying they are going up but they are at the lowest point this year. Only things selling are the “good” deals are selling. If nothing grabs the buyer, it is not selling.
New homes are doing really well. Brambleton had a record year last year – 354 sales last year and through the end of April they had sold over 200. Toll Brothers has sold 52 year to date in South Riding. – Broadlands is crushing it too. Pulte at East Market is selling at a record pace because of price and location. Stanley Martin is ahead of last year’s record pace. And NV Homes sold 7 homes in Saranac versus 1 for Brookfield – not many other new homes for sale
Sellers dominate the landscape amongst the agents in Platinum Club. If you need new buyers – hold open houses: 18 people went through one open house last week in Centreville, 47 people went through another one in Fairfax – Home Buying Seminars are working now too, one agent had 50 people attend – internet advertising is working too. You have to be actively involved in the business to get business. Buyers have so many avenues to find properties plus they have access to so much information that they feel they don’t need an agent. You need to develop relationships, get referrals and build the bridge or else you won’t get them – best way is to have a face to face buyer presentation. Therefore, the adage of listers last will ring true for years to come.
First time buyers are getting bumped out who are using FHA loans – cash, conventional and even LFMI loans are beating them out. The first time market continues to be red hot.
You have to meet appraisers now more so than before to get the house to appraise. Most are open to your feedback so show up and do your job to protect your sellers and your contract.
Google yourself and see what happens. Get it? Got it? Good!
Now, go sell something!