Monday, March 11, 2013

A Buyers Market?

If you are thinking of listing your house, do it now. Buyers? If you find a house that meets your needs? Put in an offer or be prepared to lose it.

Waiting will not be moving the market in your favor: "Listings of existing homes for sale were down 14% year-over-year in the first two weeks of January, according to Realtor.com, which tracks 146 markets nationwide."

Don't want to believe me? Then you should believe USA Today, Realtor.com, Coldwell Banker Mother Ship? How about Census figures on new builds: "New home construction is still weak. In each of the past three years, builders completed fewer than 500,000 single-family homes. That's less than half the number built annually between 1993 and 2007, according to the Census Bureau."

Low supply is feeding bidding wars in some parts of SoIL. In Carterville, Waltonville, Woodlawn or Sesser/Valier school districts desirable turnkey, RD, FHA or VA qualifiers will test the limits of bidding. These are "hot" school districts: remember saleability of property has an unbreakable first rule: it is location, location, location. The second rule becomes price...what's the bang for the buck? Remember -- in these locations young families are buying starter homes and established homeowners are moving up to their dream properties.

What will the market bear? Those markets listed above? They will support first time home buyers and those looking for the second, and, even third tier (luxury home with land) homes. Why? Because these are locations within easy commute from major employers in the region. Also the proximity to family, friends... then there is what I think of as the "coming home" factor. Folks who left to pursue career elsewhere come back to the familiar stomping grounds of youth.

Lots of those returning can and do fuel the upper market homes. These folks want to be the "landed gentry" of the area. So, perhaps, they want enough land to hunt without obtaining a license or they want private fishing/picnic/4-wheeler heavens/havens. For serious land deals we have to travel further south and those homes abutting the Shawnee National Forest become the featured paradise of dreams. I could sell a house with four or more acres a little outside of town with 3+ bedrooms and 2+ baths with a heated/cooled 30x30 pole barn in turnkey condition listed for under $120,000 every day of week plus two on Sunday. I'm telling you right now...it ain't gonna happen for ya. Not in those school districts, it ain't. For that price you'd better be willing to put some sweat or money or both into the house or build your own pole barn. I guarantee you it will need work, not just a coat of paint.

Something you have to consider: in large urban areas people can and do commute an hour or more into the city. Here in SoIL those commuters are coming from  rural areas or small towns into "urbanish" centers like Mt Vernon, Carbondale, Marion. Commuters drive into CT, Walgreens, National Rail, any of a half dozen medical centers, banking, law, state jobs like prisons, schools/colleges/universities, publishing and businesses (corporate to small mom & pop) to support the population. I am in this last group:  I am a small business! I hang my license with a Coldwell  franchise; for this privilege, I pay dues/expenses/fees on a quarterly basis. I work "for" my clients. Listing property? Those sellers? They pay commissions that I split with the franchisee and the mother ship -- again:  paying for the privilege of hanging my broker's license in that shop. Rents, if you will, for the privilege of ownership of my own business with a Coldwell Banker mother ship and a franchisee in Carterville.

That's why it is important you get to know me. That you call my cell (618-438-1900) and you actually know that I am working for you whether you are buying or selling. My buyer/seller is my skin in the game -- I get nothing until I get you to the closing table.

That trip to the table can be a saucy jaunt down the Yellow Brick Road with flying baboons ((yeah, I saw the new OZ movie)), biting water fairies, nasty witches, soldiers with battle axes and broken china. It is my mission to try to limit the surprise factor; make sure it is not your dream that gets shattered like so much pottery.

It falls in my lap to explain the facts of (real estate) life to you. Please believe me when I speak...I have no joy in bursting your bubble. Because facts, those pesky things, do tend to bring the party back down to earth and sales of property? They are perking up. If you have a house to sell? Clean it, paint it and make sure everything works. Make sure it shines like a new penny and be ready to help a buyer buy it. If you don't then be prepared to price it lower!

Buyers? Get your finances in order. Don't be surprised if you have to overlook flaws. Know your limits and be prepared to paint, clean, move walls and add baths. And be prepared to offer more!!

Questions? Good! I got answers!

Let's hope they match.

Call me or text anytime: 618-438-1900

I am building a real estate practice and I need your business.







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