I came across an interesting article on www.cnn.com by Les Christie on the increasing amount of deals being signed.
There are multiple reasons for this, but mainly the record low prices due to foreclosures, short sales etc. Normally, it would have been just another article, but it happens to be true for The Glen Russell Team as well. This past december we had more deals than November & January. Granted it's a generally slow time for most realtors, but things are picking up.
I love when people talk about "the market, the market. It's so terrible." Then why are we busy! If you are even remotely considering buying a home, you are absolutely NUTS if your not taking advantage of what's happening right now. The deals to be had are in my opinion once in a lifetime, and I make sure all of my buyers know that.
Here is the article - ENJOY! I hope it's true for many other realtors also.
MAKE IT AN AWESOME DAY!!
NEW YORK (CNNMoney.com) -- Plunging home prices and low mortgage rates pushed homebuying activity higher in December, according to a regular industry report released on Tuesday.
The Pending Home Sales Index, from the National Association of Realtors, measures the number of sales contracts signed each month. It rose 6.3% in December to 87.7, after dropping 4% in November to a record low of 82.5.
The index was 2.1% higher than its December 2007 level.
"Significant uncertainty still clouds the housing market despite improved affordability conditions," said Lawrence Yun, NAR's chief economist, in a written statement. "For a sustainable housing market recovery, and a sustainable economic recovery, we need a significant housing stimulus for qualified borrowers,"
Sales of homes that were repossessed in foreclosure proceedings contributed significantly to the index's improvement. Repossessions and short sales, when homes are sold for less than what borrowers owe on their mortgage, now account for more than 30% of all U.S. home sales, according to real estate Web site Zillow.com.
Sales activity gained the most traction the South, where the index jumped 13% in December. The Midwest was also much higher at 12.8%. The Northeast, however, slipped by 1.7% and the index in the West fell 3.7%.
Home sales also benefited from a drop in mortgage interest rates during the month. The 30-year, fixed-rate loan averaged 5.29% for the month, with the average borrower paying a fee equal to 0.7% of the mortgage principal. That was, by far, the lowest that mortgage rates had been all year.
Cheaper real estate
The lower mortgage rates helped push housing affordability to record levels.
NAR's Housing Affordability index improved to 158.8 in December, up more than 29% year-over-year. That makes buying a home more affordable than any time since NAR started tracking the measure in 1970.
A household earning the median U.S. family income can now afford a home of $277,000, according to NAR. That's well above the national median home price, which was $198,600 in 2008.
Glen Russell 610.792.3000
My Team & I post our listings on over 100 websites! This obviously means that they get a large amount of exposure. There are the usual sites such as: www.realtor.com, or www.homes.com, www.realestatebook.com, & of course www.GlenRussell.com.
But then we also use some less main stream websites such as: www.r-bid.com where you can bid on a house in the comfort of your own home! There is also www.craigslist.com, www.oodle.com, and www.bobvilla.com where not only can you look at homes, you can get great remodeling tips as well.
The other day a colleague of mine mentioned www.backpage.com to me. I checked it out for myself, and now you can find all 35 of our current listings on there! It's very simple to post houses, and anything else your looking to sell.
Normally, I wouldn't think so highly of just another website, but since posting my listings on the site 3 days ago, I've already recieved 6 phone calls from ready to go buyers! The showings are set up, & things are happening.
I encourage realtors to get all of their listings on there fast, Sellers to make sure their realtors are using the site, & buyers to check it out!
Make it an awesome day!!
Glen 610.792.3000
Market Statistics for DECEMBER 2008
Courtesy Of : Glen Russell 610-792-3000
Keller Williams Realty Group 610-792-5900
Monthly Statistics for the Date Range Selected
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Date |
Units Listed |
Listed Volume |
Listed Average |
Pended |
Units Sold |
Sold Volume |
Sold Average |
Average DOM |
|
Dec 2008 |
20 |
6,900,300 |
345,015 |
12 |
11 |
2,715,947 |
246,904 |
70 |
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Totals: |
20 |
6,900,300 |
345,015 |
12 |
11 |
2,715,947 |
246,904 |
70 |
|
|
|
|
|
|
|
|
|
|
Pricing Details of Sold Units for the Date Range Selected
|
Minimum Prices |
Maximum Prices |
Average Prices |
|
Original List Price : $1,667 |
Original List Price: $459,900 |
Original List Price: $255,760 |
|
Sold Price : $1,667 |
Sold Price: $417,000 |
Sold Price: $246,904 |
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Market Statistics Criteria Used |
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Date Range: |
12/2008 to 12/2008 |
|
Price Range: |
$1,000 to $900,000,000 |
|
Property Category: |
All Categories |
|
Area: |
Collegeville Boro |
Compared to......
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Market Statistics for NOVEMBER 2008
Courtesy Of : Glen Russell 610-792-3000 Keller Williams Realty Group 610-792-5900
Monthly Statistics for the Date Range Selected
Pricing Details of Sold Units for the Date Range Selected
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See it for yourself, The market is booming! These small areas have homes selling, and faster than they were 2 months ago. The average days on market being 70, not bad! For more info like this in your area, or for any of your real estate needs, please never hesitate to call.
MAKE IT AN AWESOME DAY!
GLEN RUSSELL
610.792.3000
Find a Babysitter for the kids, because this is an event that CONNOT be missed!!
The Sunnybrook Ballroom is hosting a New Years Eve Bash called "BeatleMania Now!"
Tickets are selling for 75$ if pre-ordered and 80$ at the door.
There will be 2 bands, tons of food, and endless fun!
Starting at 7:30 they will begin to serve Hor-devours, at 8:00 BeatleMania begins!!
A cover band will play all your favorites and more.
From 10:15 - 12:00 am there will be a Buffett & Desserts.
Last but not least, a dance band Bill Koss Combo will go on at 10:45 and will help you ring in the new year!
There will be a Cash Bar All Throughout The Night.
This is not your average New Years Party! I hope to see everyone there!!
For More Info or for Tickets, Please Visit: http://www.sunnybrookballroom.net/nye.html
MAKE IT AN AWESOME DAY!
Glen 610.792.3000
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Market Statistics
Courtesy Of : Glen Russell 610-792-3000 Keller Williams Realty Group 610-792-5900
Monthly Statistics for the Date Range Selected
Pricing Details of Sold Units for the Date Range Selected
Make it an awesome day! Glen Russell 610.792.3000 Glen@GlenRussell.Com
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Seving all of Montgomery, Berks and Chester County with a team of 9. My team & I have been the No. 1 Sales Team at Keller Williams Realty Group for 2 consecutive years.
** The Glen Russell Team has been the Number 1 Sales Team at Keller Williams Realty Group for 2 consecutive years! **
* Why hire 1 agent, when you can have an entire team? With the Glen Russell Sales Team, you get a whole team of professionals working for you. We never run out of time for you, because each of us is responsible for a specific process in the purchase of your home. Together, our combined efforts add up to superior customer service
* Glen offers specials & promotions to best fit your needs! These include learning how to sell your property yourself, while it's listed and pay no commission, a flexible commission schedule, the ability to cancel your listing at any time, a "no pressure" presentation, no advanced fees of any kind, and learning how to stage your home.
* There are a variety of offers ONLY Glen can give! Such as: "Your home SOLD or I'll BUY it, GUARANTEED!" "If you are unhappy for Any reason with the home you buy, I will BUY it back or sell it for FREE!" There is also Right Now Access, when you have priority access of every home and/or new listing just as if you were a MLS realtor!
The Glen Russell Team list and sell real estate in: Montgomery, Chester, and Berks County.
ONE SATISFIED CLIENT AFTER THE NEXT....
"The Team excelled at customer service. Getting back to us and answering all of our questions were no problem for them. We would use Keller Williams Realty & The Glen Russell Team again! We couldn't think of one thing they could improve upon." The Faiths
"We had a unique situation and the Team never gave up trying to find the right home for us. We have used the team more than once. Several of my family members have used the Glen Russell team for their real estate needs. They did an excellent job overall and always stayed in touch with us." - The Schaeffer's
"We had found a home we really wanted soon after listing ours. Glen calmed our fears of not being able to move forward by guaranteeing the sale of our home in writing so we could put in a firm offer with no contingency. Even better, the Team sold our home for more than our asking price in time to close on our new house. When we sold our first home with Glen, he offered an 18th month guarantee. If we were not satisfied he would sell our house for free. We decided to move within the 18 months, and his team sold us the home we always wanted - for FREE! Thanks Glen Russell Team!" The Santangelo's
"The very best realtor I've ever had; he's exceptional! Glen Russell helped me out so much. I can't say enough good things about all he did for me. He was always there to answer any question I had, and made me so relaxed during the whole process. He sold both of my homes in 3 days!!!!! The Glen Russell Team will never let you down." Dawn Wrenfrow 2005
"The Glen Russell Team excels at following up with phone calls and attention to detail. I felt like I was taken care of and someone was always in my corner. I would use The Glen Russell Team again. - Megan Bell
"In these uncertain times in the real estate market, we turned to the Glen Russell Team to sell our house. Having used the Glen Russell Team in the past, we knew that Glen and his team would be aggressive in marketing our house. To our delight, we received an acceptable offer within 10 days of listing the house. We were hoping for it to sell quickly, but never dreamed it would have happened so fast. We give thanks and credit to Glen and his team for marketing and ultimately selling our house. The entire selling process could have been a stressful time for our family, but thanks for Glen, it was a seamless transaction. It just goes to show you, if you hire the right realtor, your house will not sit on the market even during a slow period." Yvonne Rantz 2008
"I have had the distinct pleasure of working with the Glen Russell Team twice. The first time was to sell my mother's house. During this extremely stressful time, Glen was always available to take my call and answer every question I had. He had a list of contractors available, and I used several of them to work on the house. They all did great work and were very reasonably priced. Glen made solid suggestions and by following them, the house sold in 2 hours at our asking price. A year later, I went to the team again, but this time to sell and purchase a home for my family. I worked with Coleen and she was always willing to answer any of my questions and handle everything that i threw at her. She was extremely professional and such a pleasure to work with. Again, with the suggestions from Glen we were able to sell our home in 5 days. After a lot of hard work, this team put my family in our dream home! I have been tremendously pleased and satisfied with the energy of the Glen Russell Team. I would recommend this team of professionals to anyone buying or selling a house." Pam Myers 2005
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