My New Blog

Having new statistics to present to you is just about my favorite thing!  I love seeing what the end of each quarter brings, if for no other reason than getting an edge on my competition.  Yes, it’s true! The numbers might not be all “rosy”, but having the numbers before my fellow agents, allows me to position my clients in the best possible way.

Lets look first at what the numbers REALLY say.  Like I mentioned last quarter, you hear so many conflicting stories, its hard to know what is the whole truth versus a smidgen of the truth.

Example #1

Sales were down 19.3% in 3Q2010 compared to 3Q2009 – not so great news, huh?

Well a little perspective for you, the tax credit was just catching on 3Q of 2009 and buyers were starting to buy.  Without the added incentive of $8,000 of course sales are down, but probably more realistic.

Example #2

Foreclosures are down 6.7% from 3Q2009! – great news, huh?

Well a little more perspective… there may not be as many foreclosures but there is a significant rise in short sales.  In fact, total distressed sales (foreclosures + short sales) is on the rise.  That obviously is not great news for a seller – but buyers take note – there are still some great deals out there!

Example #3

Homes are selling on average 86.6% less than their original list price. That’s is outrageous, huh?!

Well here is the best AND worst perspective yet… if you’re home is priced right it sold for 96.9% of list price in 3Q2010…if it was priced wrong it sold for 78.5% of list price!  Which means if your home was listed at $350k and it was in line with the market then it sold for $339,159 last quarter.  However, if your home was over priced at $350k then it ended up finally selling at $274,500 last quarter!  Which side do you want to be on?