Four existing or new construction homes have sold in the Ebbets Field Subdivision in Edwardsville, Illinois as of August 26, 2009. One sold home was a re-sale home and three were new construction. The average selling price was $489,900 for new construction and $362,500 for re-sale.
Currently, there are 13 active homes on the market in Ebbets Field and 8 of them are new construction homes. Prices range from a low of $369,900 to a high of $649,900. There are 2 new construction homes currently under contract. The homes for sale have been on the market an average of 227 days.
What does this information tell a seller in Ebbets Field? That your home should be priced correctly and be presented in the best possible condition to rise to the top of the choices in your price category. Don't "test" the market with a price higher than recent comparable sales to "see what happens." What will happen is this: buyers will turn to properly priced properties and write offers while your home lingers on the market.
Thinking of selling your Ebbets Field home? Click here to e-mail me about what your current home might sell for.
Or maybe Ebbet's Field is the perfect neighborhood for your new home? Click here to e-mail me for a list of homes currently available.
Sounds like the title to a tantalizing new mystery book, doesn't it? A book like that might be chock full of suspense with the characters experiencing emotions ranging from confusion to frustration and a maybe even a dash of irritation.
Too bad that what I'm talking about here isn't fiction. For far too many home sellers, this mystery is all too real and common. Every day in our market sellers are wondering "What happened to my REALTOR®?"
Nancy and I handle a lot of sellers who have had their listings expire from the MLS for one reason or another. Sometimes it's price, and other times it's lack of attention from the listing agent. Here's a prime example:
Last summer we visited with a seller that had his home on the market for one year with another agency. His listing had expired and he was interviewing new agents. A really good move on his part - sellers should talk to as many potential agents as possible to find a good fit for both them and the agent. A few days after we talked, he called to tell us that he had chosen another agent but that it was a close call.
His house has now been on the market for over 560 days. When I pulled up the listing history in the MLS, I noticed that the listing had only been touched once over the past year - and that was to extend the listing agreement. In our MLS, agents input prospects to receive listings as they come on the market - the catch is that if your listing is there BEFORE the prospect is entered by the another agent, the prospect doesn't receive your listing. So for approximately 10 months, his listing has sat there unattended and has not been populated into the listing cart of ANY prospect after he was listed.
It's actually sad, isn't it?
The number one complaint I hear from sellers who have had their listing expire is "My REALTOR® stuck a sign in the yard and disappeared. I would have lowered my price if they had taken the time to do a market update every few months. I never heard any feedback from showings, and in the 100 degree summer my house was being marketed with a picture of it with snow on the ground. What gives?"
I believe that there are some agents out there that think the work stops when you get the listing agreement signed. That's just not the case.
The gentleman in my example above took all the right steps, he interviewed multiple agents and he didn't pick his agent based solely on price. So how can Edwardsville and Glen Carbon home sellers avoid becoming the main character in a bad mystery novel? Arm yourself with these 10 questions for any agent you interview.
1. How often will you communicate with me? How will you communciate with me? (If you prefer a call and your agent prefers e-mail, hash that out now. Communication is the foundation for a great team, and you and your agent are a team).
2. How long do you normally take to return a phone call?
3. How long do you normally take to respond to an e-mail?
4. Will you provide me with market updates that compare my house to ones that have closed as well as my active competition?
5. When the seasons change, will you update your marketing materials?
6. Will you set me up in the MLS to receive automatic e-mails when something new comes on the market that my home will be in competition with?
7. Can I deal with you personally when I have a problem, or do I have to go through your assistant?
8. Will you provide me with a monthly status update about where my home is being advertised?
9. Even if you can't reach the other agent for showing feedback, would you please still call me and at least let me know that?
10. Will you change MLS descriptions every few months to give my listing a fresh look?
If you receive an unsatisfactory answer to any of these questions, move on to the next agent. The seller-agent relationship is not like an employer-employee relationship... it truly is a team effort and you must find an agent that matches your style for your home sale to be a success.
Questions about selling your home? Stop by Sacred Grounds Cafe in Edwardsville every Tuesday from 12 - 1 to have them answered. We'll be there talking all things real estate - and we'll even buy the latte.
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About the Author: Kristina Pratt is a REALTOR® with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
Maybe you're thinking of buying your first home to take advantage of the first-time buyer tax credit. Or perhaps you've outgrown your current home or need to downsize. There are any number of reasons why you might be buying a new home. If you're a first-timer you're likely full of questions about how the process works. If you've bought a home before, it might be time for a refresher. Either way, we're here to give you the information you need.
For a limited time, we'll be at Sacred Grounds cafe in downtown Edwardsville from 12 - 1 on Tuesdays to answer your home buying questions. Let us buy you a cup of coffee and chat about everything from your specific needs to how the process works.
No pressure, no obligation - just a great cup of coffee and a chance to pick the brains of two real estate professionals.
Prefer your own private consultation? No problem. Just shoot us an e-mail or give us a call and let us know.
About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
When we were all little and starting to gain our independence, one thing that was a big deal was dressing ourselves. In our haste and excitement, I'm sure most of us were guilty of not paying attention to the order our clothes were supposed to go on. Sometimes, our underwear ended up on the outside of our pants.
Thanks to the first-time home buyer tax credit, our market is starting to hop with first-time buyers. Since we have a few listings in this price range, we get a lot of calls. It seems like in their haste and excitement to buy their first home, some buyers are putting their "pants" on first and their "underwear" on second.
What I mean is this - the first thing a first-time home buyer should do is educate themselves about how the process works. Don't call the listing agent to see every house that meets your needs. See, there is something called agency - and in the home buying business it's really important.
Agency works like this:
As you can see buying a home is a complicated process. It's very important to educate yourself before you start the process. The best place to start? Shop for a good buyer's agent. Many agents will offer you a consultation before your search starts. This allows you to let the agent know what you're looking for, and in turn the agent can explain to you how the process works.
So, first-time buyers - don't wear your underwear on the outside of your pants. If you're starting a home in search in Edwardsville, Glen Carbon, Collinsville, Troy, Maryville or any other Madison County communities give me a shout. We'll sit down for a consultation and get the process started.
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
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