One Reason I Love My Job!

I get to see interesting places and things I wouldn’t see if I sat behind a desk all day.

Today was one of those beautiful spring like days in the Foothills, the sky was blue with wispy white clouds.  The frogs were calling their mates, wake up, wake up.  Daffodils are starting to bloom & the grass is green.  It was a great day to be driving the back roads and my excuse is it’s part of my job, but even better than that I had clients to show around too.   Lots of fun.

Some interesting things I’ve seen the last few weeks:

Have a great week,

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

 

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Real Estate Market Data Numbers, What Do They Tell Us?

I always hear the media ( as I am sure you do too ) throw out numbers regarding the housing market.  Such as 1 million homes in foreclosure!!!  Now 1 million is a big number to most of us, but how big a number is it in relationship to the total number of homes in the US?  1%, 5%, 50%?  The media never seems to report that number or any number that gives us a relationship, a comparison value.  I love numbers, but to me they are meaningless without the back story of how the data was gathered, how big was the data pool, who gathered the data, was it verified………….and so on.  One of my favorite “stories” starts with 2 out 3 people agree that………..- right away I am thinking how many were polled: 5 or 50,000?

So here are some market numbers from MY market in Placer County (Auburn, Foresthill,Colfax, Alta areas)

 

The first graph shows all the listings and sales including pending sales.  I can see pending sales are up (good for sellers).

The second graph shows only regular sales – non distressed homeowners, “normal” sales.  The active inventory compared to the pending and sold numbers is high.  About a 10 month inventory.  (good for buyers)

The third graph is the short sales.  I see a spike in pending sales.  These would be homes that have been in the short sale process for awhile and the lender has give approval to proceed.  (good for buyers and sellers, shows lenders are approving short sales)

The last graph is the bank owned property sales (post foreclosure, REO’s*)  A little spike in pending sales there too.

So you ask what DO the numbers mean?

If I dig a little more into the data, I see that average price per square foot for regular sales is $168, for short sales $134, REO’s $102.   Does this mean REO’s are the best deal? Not necessarily, I know from experience that most REO’s are in poor condition, while most regular sales are in good to excellent condition.   The data also tells me the average REO price is below $200,000., the average short sale price is mid to high $200,000’s and the average regular sale is mid to high $300,000’s.

Where might there be opportunities?

In my opinion there is a lot of competition among buyers for the bank owned properties.  Perception is they are good “deals”.  Reality maybe not, take into consideration repairs, deferred maintenance, unknown issues because you don’t get the history from the non-occupant seller.  Also possibly higher purchase costs, in many cases the buyer is paying for costs usually paid for by sellers in regular sales.

Short sales, can be a good deal for a buyer, if you have the patience to get through the process and can deal with the uncertainty of waiting for the lender to approve the sale and price.

Regular sales, sellers need to evaluate their pricing and make sure they are competitive and realistic, don’t be offended by a low offer: at least the door has opened.  Buyers don’t be shy, if property is overpriced, do your research and make an offer. Some of the best deals may be here if sellers and buyers can come to agreement.

If you like to play with numbers you can access & create market data reports for the greater Sacramento & Foothill areas on my website: www.FoothillsHotProperties.com   I am also happy to create a monthly report for you, call or email me with your criteria.

Have Fun! Question the numbers!

Have Fun!

 

 

 

 

 

 

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What’s Up With Toilets? (Lids, That Is)

I’ve been selling real estate for about 6 years now and I just need to get this off my chest, because I feel like maybe I missed something in my real estate classes, why are toilet seat lids up?  In listing photos, in person, in expensive homes, in fixer homes.  What is up with the lids?

Nicer home, lid up

Nicer home, lid up

My former broker used to say he always knew I had been to a house because the lids would be down.   I just can’t stop myself, I mean does any buyer want to see the inside of the toilet on the first visit? Does it make a good first impression?

The other day I went to show a home, lid up (of course) and 2 dead mice floating in the bowl, Yikes!  No I didn’t take a photo, but I quickly closed the lid, as I was afraid to flush and flood.  Next room please…..

So if someone can tell why the lids are up I will gladly leave them be, but until then you will know I’ve been there if the lids are down.

Combination of lid up and dirty laundry

A winning combination of lid up and dirty laundry, actual listing photo, this home says buy me now, don't you think?

Teri Andrews-Murch, Realtor, Ca DRE 01734030             ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

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Getting Started

That is the big step isn’t it?  Getting Started.

 When I am working with Sellers and Buyers that is what I tell them, you need to get started, usually it is start finding financing or start getting the house ready to sell.  To get to the end you have to start at the beginning.  Simple right? So why has it taken me soooooooo long to start this blog?  I sort of started with Laura Roeder’s Creating Fame classes, ok that gave me the tools and steps I needed but I still had to START doing.

So I finally am listening to my own advice on the 5 steps to a project: (in this example selling your home)

 Desire- Yes I want to do this

Feasibility- Yes I can do this

Action- Yes I am doing this

Completion- Yes I will finish this

Celebrate- Yes I will have fun and take time to enjoy the end

 So here I am and I feel like I did taking that first bike ride, I still have the training wheels on but I am ready for the ride.  I hope you enjoy it too & if not well that is OK,  as the song goes: can’t please everyone…………. you know the rest.

Have a great week and get Started!

Contact info & other stuff:

Teri Andrews-Murch, Realtor, Ca DRE 01734030  ph: 530-798-0215  web: Foothills Hot Properties , Facebook Page: Teri Andrews-Murch, Realtor , working for Lyon Real Estate, Auburn, Ca 

Have Fun!


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