OK folks, it's time for Broker Bryant's June market report for Poinciana FL. Now this month I decided to do things a little different. I am going to fill this report with my "optimistic spin"!! That's right I am going to be Mr. Optimistic. Lately, I've been finding myself slipping over to the "dark side" so, figure I best nip that in the bud. First I'm going to put the facts out there then we'll see what I can do to put the proper "spin" on it. So here goes.
As most of you know, I run the MLS Hotsheet everyday. The Hotsheet gives me the market activity for the prior day i.e. sold listings, pending listings, expired listings, new listings etc. Well, since Friday was the last business day of the month, I decided to wait until today to look at the Hotsheet. I knew there would be quite a few expired listings and I wanted to spend this morning mailing out my expired letter to try and get some new listings. OK, so here's what this morning's Hotsheet looked like. Since Friday June 29th there were:
Market Reality: Well what can I say. Did you notice the 1 sold listing for the last day of the month? How about the 100 expired listings?
Optimistic Spin: Wow!! I have 100 expired listings to solicit. WooHoo!! I'm going to be busy, busy, busy!! I LOVE my job. I'm glad I ordered more signs last week.
Now let's take a look at the month of June in it's entirety. This will be much more fun. Here goes:
In June 2006 there were 158 closings. June 2007 there were 39. That's a 75% decrease.
As of this morning, there are 1706 properties for sale(active) in the 34758 and 34759 zip codes. There are 112 properties under contract(pending). Thus far, this year, there have been 318 closings. Last year same period there were 810. That's a decrease in sales volume of 62%. There is currently 3 years worth of inventory on the market in Poinciana Fl. And values are down approximately 20% and declining steadily. My professional opinion is that the market will continue to decline for 2007 but will hopefully start leveling out by early 2008.
Market Reality: In ain't purdy in Poinciana Fl. From what I've read and seen we could have on
e of the worst markets in the country at this time.
Optimistic Spin: Houses are still selling. If they are priced well and in very good condition they will sell. The only questions are: How long will it take? And for what price? And for my Sellers, you are listed with the top REALTOR® in Poinciana by far. Even though the market is way down I have still managed to close more transactions than any other REALTOR® in my market. So hang in there. I WILL get ‘er done.
So that's it folks, my meager attempt at "spinning" this month's market report. So how are things in your neck of the woods?
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Blog Boy...
While you were mailing out the expired letters Poinciana sales went up to 2! Yay.
I can spin it any way you want it :)
TLW...ROAR!
Showings are up. Contracts are coming in. It seems more like March than the 4th of July. We'll take it!! Sherry
There was some optimism there, LOL! Well your expired letter really kicks butt, so we know you will be busy! :)
Wow, BB, your market really sucks. NY is not NEARLY as bad. I've been hearing about the Florida nightmare- reminds me of Denver in the 1980's. The change snuck up on us out there- it seemed to come out of nowhere. Just as much of a surprise was the turnaround- talk about an elated group of real estate agents. As the builder that I'm working for finishes up this project, I've been carefully watching the Florida market (WCI is based in Florida, and the company is for sale). Investors are CERTAIN that Florida is going to provide them with a financial windfall- and Carl Icahn is an investment genius, leading the buyer pack. Let's all hope he's right about Florida being a goldmine.
BB,
I use campaign graphics in ocala. They do great work!
It sounds like you`ll need to order at least 100 new signs..:)
In the last week it picked up....our office has buyer's for listings and I have ones coming out of the woodwork. Knock on wood.
Come to the 'Dark Side' My father:-) 100 Expired Listings!!!!! I see things as you, opportunity is there just when the door has been perceived as shut. In my neck of the woods, lots of good things happening in the Lehigh Valley, and whispers are that more is to come. Either way, optimism should never be thought of as the same as being a plain fool...there is a difference. I'm sure you've stood out because you know that difference.
BTW, what the heck is grosella?:-)
wow, for a minute there I thought I was watching the "No Spin Zone!"
Well hello everyone. Is my market bad enough for you? I'm still waiting for someone to say their's is worse. May that's not going to happen:(
I do these reports once a month and send all my current and potential Sellers a link. Seems to be working pretty well in helping them to stay informed.
Thanks for stopping by.
Bryant - I just had an expired listing (dang it). Listings here are coming in but selling them is another story. Our city seems to have "pockets" where deals are happening but the rest is slow moving.
Good luck with the 100 expired listings!
Not as bad as your market however our market is not doing much better. There are buyers out there but not for high end homes, I don't blame them who could afford that kinda mortgage?
Hay. I got a call today from a lady that wants a $350,000 or less property in my neighborhood with acreage.
How can I be optomistic about that? Shucks. It's in my neighborhood. I'll sell it myself.
BB Yesterday as I was playing in the Rain, I saw two or more posts about trying to remain postive. I like this one the best. I learned not so long ago, if we look hard enough we can find the pros to the cons.
Here's our hotsheet from today:
9350 Listings
103 New
246 Expired
13 Pending
18 Sold
2 BOM
Alright what is a bunya-bunya???
You know I can't resist a statistic.
Montgomery County, MD, just one of my market areas and one of the most active is showing.
Listings DETACHED ONLY 2971
New Listings 910
Expired in June 87
Pending 563
Sold in June 593
New listings are still almost twice the number of SOLD, but it's not as bad as I expected.
I don't want to look at some counties.
BB,
Thta's hilarious only because we just put in a property of our own and it says all that in the listing as well.
It's nice to see houses still selling, if they sell, I still have a Job.... :0)
Tom
Here is what is happening in Ann Arbor, easier to link than write the whole ugly mess again. OPPS positve situation in Ann Arbor.
From Avon Indiana:
June Stats
Listed: 121
Active: 564
Sold: 80
Expired: 50
Pending: 108
Every month is the same - some areas in town are selling , it's really random. Still waiting for buyers to take the dive!
BB- Just think if you could get 10 of those 100 expired listings and correctly price them, that will give you 10 more opportunities to to sell a home. Stay away from the "dark side" think positive- positive people make positive things happen.
Love the optimism! LOL! Here's my neckof the woods for today (Just today-not the month)
1 listing sold? I had to read that a couple of time....it seems like it's a great time to buy, I don't know what people are waiting for. I too am due for my marketing report and will have to give it a positive spin as well.....what else?
the graphics have been making me laugh allday - moosewood? (I guess we're no longer FRUITY)
Not sounding all that good to me Broker Bryant. Even with the spin.
That's a pretty horrific drop in closings. Time to perfect a tough-market expireds presentation and go a'callin...
Wow, very interesting! by the way....does anyone know what a "belimbing" is? That is my graphic.
Bryant,
You are in my thoughts. TLW needs shopping money so you are in my prayers too.
My market is pretty good, no complaints. For California ocean view and ocean property, we are still considered a bargain and all the boomers are jumping on board, woohoo.
Fran
Here in Ocala the market is almost as bad, just larger. The challenge we face is it is hard to sell homes for $200K when you have to drive all the way to Mt. Pilot (Gainesville or Orlando) to find work that pays $10 per hour and you can find comparably priced homes in both these cities.
BB- it looks like, in your area, it may be time to get really friendly with the banks and pick up some bank owned...at least they fix them up, so they'll have a good shot at selling eventually. Are the people that you have listed moving within the area, or leaving the area?
Hi everyone. This is great getting to see the different stats. I'm really hoping it's going to be a little busier for the the remainder of the year. I have 25 listings and all are priced very well. Trying to get my inventory up to 40. I'm sure with 40 homes priced right I will get a few sales a month out of it. I get calls everyday with folks ready to sell it's just so many are waaay over financed and at this point I'm not taking anymore short sales on Investor own properties.
I will continue to move forward and do my best. That the only thing I can control. Maybe I'll just go fishing:)
As always I appreciate you stopping by and commenting.
I LOVE the attitude! Even better, you gave me a whole new appreciation for MY market-- it's lookin' pretty good after that! Thanks :)
100 opportunities! That is the highest expired list I have seen and I monitor 4 different zip codes. WOW.
Combined they are no where near that high. If anyone can "Git it done" I know you can Broker Bryant.
Sandi, Glad I could help:)
Alison, Can you believe it? Poinciana is truly suffering right now. Guess I have to start taking listings in Saint Cloud:)
Wow....and I was in a mood to celebrate the holiday! Look at the bright side of things.....we're one week closer to the bottom that we were last week...unless things have started to change??
Bob Mitchell
ValueList Real Estate Services, Inc.
Oh nooo did BB say Fishing?? Remember ~~Duct Tape The Mouth First!
The numbers seem scary but I know that you are Broker Bryant and you will get the job done! Indianapolis seems to be picking up in activity from what it was at the beginning of June. Also, I'm getting more calls regarding "short-sales" too.
BB, I love your optimistic spin on the market in your neck of the woods! It's just plain LUCKY to be in Kentucky! In our market I heard that we were only down 11% compared to a 24% drop in sales nationwide. WooHoo!! I stay busy with buyers. I also have time to give Chanel a much needed bath today.
Lysa, No gators today.....maybe:)
Thanks for the vote of confidence Cynthia. I will certainly do my best. Glad to hear your market is picking up a little.
Lizette, Are you on a Broker Bryant tour this morning? I like it!!! That IS the cutest little dog(child) you have. OK not sure why I hadn't before but I just subscribed to your blog so I don't miss any Chanel and Redneck Kitten stories. I'll try to make it by often but I now have about 150 subscriptions!!!!! My goodness this place is sooooo huge anymore.
BB,
I just had to do one more - it kind of fits here...
WoW! I'm honored to have made it to #151 of your favorite blogs to read! Actually, it was you and your lovely wife that got me back on track with my comments. I appreciate that you do stop by and let me know your thoughts. Chanel would be thrilled as well, but she is recovering from her dreaded bath.
Broker Bryant - I've been in the business 31 years. This is my third down market. Seems to happen about every 10 years or so whether we like it or not. I use the time to do all those things I don't have time to do when I'm flat out crazy with business.
Personally I think you should write a book now when you have the spare time. You won't have the time when the market comes bouncing back. It will.
Patience grasshopper.
Well thank you Andy. I like it!
Lizette, I can relate to Chanel, I don't like to bathe either:)
Linda, Oh I know. Been there done that. When I first started selling in Poinciana 13 years ago you had to bed folks to show listings out there. It's pretty much been like that except for the last few years. So really my market is just back to normal. My plan is to stock up on listings. And yo are right it is the perfect time to organize our businesses and work on side projects. I'm also an investor so prices are starting to look good again. Most of my frustration is for my sellers who really need to sell.
Hey Broker Bryant, nice spin.....spin some of that toward Melbourne, Florida I have a home for sale there!
Wow - that's a tough market you are in. We just came out of our slump and things are moving along nicely .. thank god. We still get alot of expired... but our ratios are no where near yours. Holy Moly I am not sure what i'd do....
How about a post on why we should all retire to Poinciana Florida. Might suck up a few of those listings :)
Bryant,
My area which is vacation homes in Kissimmee, Davenport, and Clermont is picking up a lot specially for buyers of new construction. Resales are not doing as well, I feel sorry for people who HAVE to sell as it might be a long road to closing if they ever get there. On the positive side there are more people looking to buy, how is that for positive?